Auction Report 5 September 2023

The start of this month – September – recognised the start of Spring and the auction activity, as with past recent weeks, showed there is a spring in the steps of buyers who recognise that the real estate market price level has settled and that the next three months are vital to focusing on requirements for the new year, be that for schooling requirements, size of home or lifestyle. Our Eastern Beaches area offers buyers quality real estate options and quality buying real estate assets.

Again, it was our pleasure to welcome a pleasing attendance to the Headsail room of the Bucklands Beach Yacht Club, the home of Ray White Auctions. Those attending included people who had registered bidding interest, those who had expressed conditional buying interest and obviously those who came along to see what is selling and for what price to give an idea of what is happening very currently in the real estate market.

The portfolio included quality properties across our residential areas of Pakuranga, Half Moon Bay, Cockle Bay, Shamrock Park, Huntington Park plus Mt Wellington and Waiuku.

It was so pleasing to see vendors achieving excellent sale results that allowed them to move on to enjoy their current requirements and buyers delighted to have the opportunity to buy quality properties, or vendors finding a very accurate buyer driven price indication.

It was also evident that being able to place properties “on the market “to sell “under the hammer” was the key factor in vendors being rewarded with further bidding and achieving the pleasing final prices.

It was also notable that the properties that were brought forward from their designated auction date, due to unconditional offers presented to vendors and accepted subject being submitted to auction, attracted additional positive buyer interest resulting in excited bidding competition.

Highlights throughout the evening:

24 Cottesmore Place Huntington Park was brought forward from its 22 September designated auction date due to an unconditional offer that was presented to our vendors and accepted subject the property being submitted to auction at this earlier auction date. This one level 3-bedroom brick and tile clad home offered buyers an opportunity to secure a home of excellent contemporary presentation that enjoys easier access to the Botany Town Centre.  It was subsequently sold “under the hammer “at $1,400,000.

27B Prince Regent Drive Half Moon Bay was also brought forward from its 3 October designated auction date due to an unconditional offer that was presented to our vendors and accepted subject the property being submitted to auction at this earlier auction date. The highlights of this home were its very appealing contemporary presentation, throughout its one level floor plan design and easier care section aspects, plus, its location so close to the Half Moon Bay Marina shopping and ferry services. A positive $985,000 start, 4 active bidders, and, with some 10 bids later, resulted in a sale “under the hammer “at $1,058,000.

13 Chesley Place Half Moon Bay was also brought forward from its 12 September designated auction date due to an unconditional offer that was presented to our vendors and accepted subject the property being submitted to auction at this earlier auction date.This was another home that attracted buyer interest due to its pleasing upgraded presentation throughout the 3 bedrooms more traditionally built and floor plan designed home surrounded by a 629m2 section. Located within a highly sought after school zone would also have been of high interest to the 8 buyers who registered to bid. From its positive $1,300,000 start and some highly competitive 57 bids, it sold “under the hammer “at $1,434,000.

2/ 81 Udys Road Pakuranga attracted extremely pleasing Open Home inspections each weekend through the 3 weeks of marketing. Away from the street frontage, appealing presentation, elevated indoor/outdoor living, and a practical floor plan that provides 3 bedrooms were highlights that attracted 4 registered bidders who positively competed through some 19 bids, resulting in a sale “under the hammer “at $1,028,000.

71 Cockle Bay Road Cockle Bay attracted bidding interest of some 7 bids, which did not reach vendor price expectations to sell “under the hammer “, however, at the time of completing this report we are continuing to work with the buying interest.

Likewise, we continue to work with the balance of the portfolio, which while attracted buying interest, were not able to register to bid on an unconditional basis , so we continue to work with these interests to secure a sale that is satisfactory to our vendors.

So, after three weeks of marketing, extremely pleasing, positive, response to the three weeks of marketing. A market confidence result, however, it needs to be acknowledged that the sales provided buyers with an opportunity to buy quality real estate assets knowing that while having to competitively bid/ buy to be the “winner” they were bidding/buying property that was also the first choice for a number of other buyers.

The excellent prices achieved confirmed our ability to maximise price for our vendors, however, to achieve such results, buyer interest, working with our mortgage broker partners, bidding registrations and actual competitive bidding are the components to achieving great results.

Ken Ralph

Auction Services Manager