Activity builds confidence
Sam Steele Head Auctioneer Ray White New Zealand
The Reserve Bank of New Zealand’ s( RBNZ’ s) recent adjustment to monetary policy has provided a meaningful boost to market confidence and auction activity, says Sam Steele, Ray White New Zealand Head Auctioneer.
“ With mortgage lending rates now being offered below four per cent, improved affordability and easing debt-servicing pressures are reigniting buyer confidence and participation across the country.”
Ray White New Zealand’ s auction results through spring have reflected these strengthening dynamics. Buyer engagement remains robust, with competitive bidding and growing momentum across the network’ s national auction events.
In October, Ray White conducted 644 auctions nationwide, achieving a clearance rate of 56.70 per cent. Increased listing volumes have expanded buyer choice, while average bidder registrations lifted to 2.40 per auction.
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