Auction

Results from our 13 August Auction

Three unconditional sales in 30 minutes of real estate bidding activity just confirms my comments from the previous week’s auction report of what has been a pleasing aspect of recent real estate activity, with the noticeable increase in Open Home attendances across most parts of our residential areas, and the more decisive action to buy property.

That was certainly evident with the reaction to our auction portfolio of properties located in Pakuranga, Highland Park and Howick this week.

Although this portfolio included just five properties, one property at 6 Willow Way, Sunnyhills, was sold at the earlier auction date of 1 August, selling “under the hammer” at $1,295,000.

This left four properties for buyer interest for the evening of 13 August where we saw a larger than expected number of people filling the Headsail room of the Bucklands Beach Yacht Club, the home of Ray White Auctions; either to take part in the buying process for the properties within this 28th auction portfolio for this year or just came along to see what was selling and for what price, in order to get an idea of what is happening very currently in the real estate market.

Competitive bidding resulted in “under the hammer” sales for the following:

  • 25B Drake Street, Howick – starting the evening on a very positive note and selling after some 14 bids at $940,000
  • 1/45 Hope Farm Avenue, Pakuranga Heights – $765,000 after 9 bids
  • 1/30 Cromdale Avenue, Highland Park – $846,000 after 17 bids

Once again, it was a very pleasing result for our vendor clients, and an excellent clearance rate after three weeks of marketing; but also a great result for buyers who were able to secure quality homes in very popular residential neighbourhoods.

We are still working with buyer interest for 8 Caldbeck Rise, Northpark.

There are always various reasons why potential buyers cannot meet the terms of an Auction For Sale and Purchase Agreement which is a totally unconditional agreement, however we try and work with these potential buyers to attract the best conditional sale for our vendor clients.

Ken Ralph

Company Auctioneer