Confidence grows with easing inventory
Sam Steele Head Auctioneer , Ray White New Zealand
The central bank ’ s recent decision to lower the Official Cash Rate ( OCR ), coupled with rising public confidence and easing inventory levels , has created an environment primed for increased activity across our Ray White auction network .
November saw a meaningful rise in auction volumes across the national network , building on the positive momentum from previous months . Property owners seized the opportunity of the traditionally busy summer selling season , capitalising on the transparency and competitive advantages auctions provide .
“ November ’ s results highlight the growing confidence of both buyers and sellers .”
– Sam Steele , Ray White New Zealand , Head Auctioneer
Auctions gained significant traction , making up nearly one-third of all listings across New Zealand , with a 32.40 per cent share of new property listings .
Ray White hosted 902 auctions nationwide in November , reflecting a 41.80 per cent increase from October . With a clearance rate of 57.60 per cent , the results highlight the growing confidence of both buyers and sellers . Notably , the average number of registered bidders per auction rose to 2.5 – up from 1.8 in October .
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