Month of more delivers auction results
Sam Steele Head Auctioneer , Ray White New Zealand
September has been anything but typical for New Zealand ’ s property market , as Ray White ’ s ‘ Month of More ’ national auction drive ignited a surge in auction activity that defied the usual seasonal pattern .
Instead of the expected lull as buyers and sellers prepare for spring , a wave of public confidence , stabilising property inventory , and desire for a quick transparent sale has fuelled a significant increase in auction volumes nationwide .
Recent results clearly demonstrate that auctions have now emerged as the go-to strategy for buyers and sellers eager to capitalise on a market full of opportunity . This renewed vigour signals a shift , positioning auctions as a dynamic , competitive platform for those seeking swift , decisive outcomes in property transactions .
In September alone , Ray White members scheduled an impressive 660 auctions across the country – an extraordinary 48 per cent increase in volume , driven by the success of our ‘ Month of More ’ campaign and ongoing mega auction events .
This surge was further amplified by the first interest rate reduction from the Reserve Bank of New Zealand ( RBNZ ) to the Official Cash Rate ( OCR ) in four years , which came in September .
The immediate impact on the auction market was undeniable , setting the stage for a significant rise in buyer engagement and bidding intensity .
The average number of registered bidders per auction jumped from 1.8 in June to 2.4 in September , a clear sign that more buyers are ready to act in a competitive environment .
Auctions with four or more registered bidders were particularly successful , achieving clearance rates that soared above 90 per cent . This high level of participation highlights the increasing appeal of auctions and signals a broader trend : buyers and sellers alike are turning to this method for its speed , transparency , and ability to deliver results in a short timeframe .
The numbers speak for themselves .
Auctions accounted for 38.3 per cent of all new property listings across the country in September , outpacing more traditional sales methods . Properties sold via auction moved off the market in an average of 28 days – nearly twice as fast as the 54-day average for private treaty sales . This efficiency highlights the auction process as a standout option for those looking to secure competitive outcomes in the current real estate climate .
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