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Auction

Auction Report 19 April 2021

Our 19 April portfolio, was the 13th portfolio for 2021 where we welcomed a pleasing attendance to the Headsail room of the Bucklands Beach Yacht Club, the home of Ray White Auctions,  including 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 and to get an idea of what is happening currently in the real estate market.

The portfolio offered included a range of 14 quality properties across our residential areas of Pakuranga, Farm Cove, Half Moon Bay, Cockle Bay, Botany Downs, Dannemora, East Tamaki Heights, Flat Bush, an investment property in Otara and a new townhouse (part of a townhouse complex) opposite the Mt Wellington War Memorial reserve.

It was pleasing to attract active bidding, particularly active for a number of properties, which resulted in pleasing results for our vendors who achieved an unconditional sale by evening’s end.

As noted in last week’s report placing 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.

Highlights throughout the evening:

64 Takutai Avenue, Half Moon Bay started the evening on a positive note, with a very positive starting bid to go on to attract another 8 bids and to sell “under the hammer “at $2,400,000 and a great reward for a near new quality build and furnished home.

12A Kurnell Drive, Botany Downs was next to sell “under the hammer “at $1,510,000 after some     14 bids.

2/23 Prince Regent Drive, Half Moon Bay was the next to draw considerable bidder attention selling “under the hammer “after some 17 bids at $1,100,000.

Amongst the highlights of the evening, 4 Burnaston Court, Dannemora firstly attracted considerable attention during the three week marketing programme, which resulted in 18 bidding registrations and after some 46 competitive bids sold “under the hammer “at $2,425,000.  A sale result that reflected the presentation, ambience, and neighbourhood address.

5 Treeway, Farm Cove also attracted a competitive 12 bids selling “under the hammer” at $1,860,000.

21 Robbies Road, Cockle Bay attracted 9 bids to reach an “under the hammer” sale at $1,195,000.

7/27 Dunkirk Road, Panmure attracted bidding interest reflecting the interest in new efficient townhouse design to meet contemporary lifestyle requirements. After 17 bids it sold “under the hammer“ at $1,085,000.

14 Gilford Place, East Tamaki attracted bidder interest for those seeking a one level floor plan design, close to services. It sold “under the hammer “after some 24 bids at $1,462,000.

23 Piako Street Otara offered investment buying, selling “under the hammer “at $830,000 after some 7 bids.

12 Larne Avenue, Pakuranga was brought forward from its 28 April designated auction date and it sold “under the hammer “at $875,000.

Post auction negotiations with the highest bidder for 20 Majesty Place, Half Moon Bay and 140 Edgewater Drive, Pakuranga resulted in a sale for our Vendors before the evening finished.

We continue to work with buyer interest for the balance of the portfolio to secure a sale that is satisfactory to our vendors.

12 sold from 14 with continuing work with the remaining 2.

So, after three plus weeks of marketing, extremely pleasing, positive, competitive bidding, for the properties sold during the evening, great results were achieved for our vendors whose properties sold under the hammer, but also, 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 still remain the key components to achieving great results.

14 April 2021

8/27 Dunkirk Road, Panmure was brought forward from its 19 April designated auction date due to an unconditional offer that was presented to our vendor and accepted subject to the property being submitted to auction at the earlier auction date. From the preauction offer of $1,100,000 and some 23 further bids it sold “under the hammer “at $1,215,000

15 April 2021

22 Glencullen Place, Dannemora was also brought forward due to an unconditional offer that was accepted subject to the property being submitted to auction at the earlier auction date.

From the pre-auction offer of $1,350,000 and 10 further bids it sold “under the hammer “at $1,422,000.

21 April 2021

114B Litten Road, Cockle Bay was also brought forward from its 3 May designated auction date due to an unconditional offer that was presented to our vendors and accepted subject to the property being offered to all interested buyers at the earlier auction date. It sold “under the hammer“ at $1,440,000.

8 Pandora Place, Pakuranga attracted buying interest, no doubt through the property offering traditional weatherboard construction, 3 bedroom accommodation, surrounded by a 693m2 section with a Mixed Housing Suburban Zone classification. The interest reflected the resurgence of Pakuranga property with 70 bids resulting in a sale “under the hammer“ at $1,206,000.

Ken Ralph
Auction Services Manager