Property owners leveraged the winter market to make crucial decisions , benefiting from the transparency of the auction process . This contributed to 588 scheduled auctions nationally , marking a significant 22.70 per cent increase in volume from the previous year .
The clearance rate of 43.20 per cent underscored increased stock levels and the choices available to buyers , while an average of 1.80 registered bidders per auction confirmed this trend .
Auctions with four or more registered bidders achieved success rates exceeding 91 per cent – showcasing exceptional outcomes amid tighter financial conditions and public austerity .
“ Auctions with four or more registered bidders achieved success rates exceeding 91 per cent – showcasing exceptional outcomes amid tighter financial conditions and public austerity .”
Sam Steele Head Auctioneer , Ray White New Zealand
A notable shift was observed in the growing preference for the auction sale method , which commanded more than a third of all listings nationwide , with a 36.10 per cent share of newly listed properties .
Auctions continued to outperform other sales methods throughout the month consistently .
The average time on the market in June was just 38 days for auctions , compared to 48 days for private treaty sales . This underscores the importance of selecting the right sales approach in today ’ s fast-paced marketplace .
Our sales teams observed improved sentiment among cautious yet engaged buyers alongside an influx of fresh inventory .
Across the marketplace , especially in variable economic conditions , auctions ’ transparent and competitive nature continues to be highly valued , mainly as they deliver positive outcomes and boost consumer confidence .
Ray White New Zealand ’ s strategic sentiment positions it as a steadfast advocate for auctions as the preferred sales method , fostering increased engagement and confidence among buyers and sellers as we transition into traditional seasonal market patterns .
BIDDING BY MONTH This chart illustrates the number of registered bidders and active bidders per auction for June 2024 .
Source : Ray White Online Analytics
Photo : 36 Rue D ’ Amarres , Gulf Harbour , Rodney | Proudly marketed by Ross Hawkins , Ray White Epsom 21