Ray White Now New Zealand 19.10.2020 Version 22 - 19 October 2020 - Page 11

Coupled with high levels of confidence , the removal of LVRs back in March , investors looking for better returns and fears that prices may keep rising all contribute to the high level of activity we are seeing in the market now .
In the last seven days , Ray White offered 116 properties for auction , up 78.5 per cent on last year , with an auction day clearance rate of 80.2 per cent . In addition to this , on average the properties offered for sale by auction attracted 4.3 registered bidders per property .
There are several considerations we observe when looking at the number of buyers active in the market .
Total available listings This chart illustrates how the number of new listings to the market has recovered as of 19 October 2020 to be slightly above last year .
9,000 8,000 7,000
# Total Listings
6,000 5,000 4,000 3,000 2,000 1,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
7.0 6.0 5.0
2020
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
2019 2020
Source : Ray White Listings Data
Bidding by month This chart illustrates that the average number of bidders per auction has remained consistent through 2020 as of 19 October 2020 , which is up on last year . This is certainly an area that is underpinning prices continuing at strong levels .
# / 28 days
4.0 3.0 2.0 1.0
Avg . Active Bidders per Auction
11
Avg . Reg . Bidders per Auction
Source : Ray White EARS Auction Reporting System