A rising market
Sam Steele Head Auctioneer Ray White New Zealand
The central bank ’ s recent decision to lower the Official Cash Rate ( OCR ), combined with rising public confidence and traditional active market seasonality , has created a market environment ripe for increased prosperity across the Ray White ’ s auction network .
February saw an uplift in auction volumes nationwide , building on the positive momentum of previous months . Property owners capitalised on the traditionally active summer selling season , leveraging auctions ’ transparency and competitive advantages .
Ray White saw 918 scheduled auctions across New Zealand in February – marking a 3.85 per cent increase over the same period last year .
A rising clearance rate of 53.8 per cent also underscores growing confidence among both buyers and sellers . Notably , the average number of registered bidders per auction climbed to 2.40 , up from 1.90 the previous month .
Auctions gained considerable traction , accounting for more than one-third of all new property listings nationwide , with a 34.30 per cent share .
Source : Source : Ray White Auctions
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