As we go to print , auction clearance rates across the network are circa 63 per cent , reflecting an increase of 14 per cent year-on-year – 9 per cent above the industry average .
Auctions are gaining in popularity as the market conditions improve . Our skilled salespeople , alongside a team of auctioneers , continue to deliver the best value under the hammer , with properties attracting multiple bidders whilst instilling all-important confidence as the market moves into cyclical recovery .
Many view a sale by auction as the best means of ascertaining market value while minimising the risk of underpricing a property . At the same time , it avoids buyer disengagement by unintentionally overpricing at a pivotal time for market activity .
Over the next month , we expect this momentum to continue despite economic challenges looming large in the distance .
We trust that this document will help you to gain a deeper understanding of present market conditions , and we are proud to share our observations and deep data set in this latest edition of Ray White Now .
Our dedicated real estate experts are working harder to bring you the knowledge and latest information to support informed decision-making , and we remain on-call through any of our 197 New Zealand branches for all of your property-related requirements .
Please enjoy our 63rd edition of Ray White Now .
Regards ,
Daniel Coulson Chief Executive , Ray White New Zealand
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