Auction Report 4 February 2021
Before looking at our 4 February portfolio, we finalised the following two sales:
15 Meadowland Drive, Somerville was brought forward from its designated 4 February auction date due to an unconditional pre-auction offer that was accepted by the vendor subject to the property being submitted to auction at the earlier auction date. Bidding commenced at the pre-auction of $1, 500,000 and after some 49 competitive bids sold “under the hammer” at $1,812,000.
We were asked to market a four bedroom contemporary styled home in Patumahoe at 10 Henry Lane, which was brought forward from its designated 10 February auction date due to an offer that was presented to our Vendor and accepted subject to it being submitted to auction at the earlier auction date. Bidding commenced at the pre-auction of $830,000 and after some 15 competitive bids sold “under the hammer” at $883,000.
Our 4 February portfolio was the 2nd for 2021 and included a quality 10 properties, however as 15 Meadowland Drive was sold on 29 January, that left 9 properties across our residential areas of Pakuranga, Sunnyhills, Half Moon Bay, Howick, Botany Downs, Highland Park, Burswood, Northpark, for bidding attention.
The Headsail Room at the Bucklands Beach Yacht Club, the home of Ray White Auctions, again, attracted an extremely pleasing number of people including people who had registered bidding interest, those who had expressed conditional buying interest and obviously quite a number of people who came along to see what is selling and for what price at this start in 2021, to give an idea of what is happening very currently in the real estate market.
Very active bidding and a very pleasing level of “under the hammer” sales was clearly evident.
8 of the 9 properties sold “under the hammer” and I anticipate that with multi offers being presented for the remaining property this evening, we will have achieved for our Vendor clients a 100% clearance.
There were many highlights throughout the evening:
So, after three plus weeks of marketing, in some cases a marketing period of less than three weeks, extremely pleasing, positive, competitive bidding, great results 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 prices achieved confirmed our ability to maximise price for our vendors, however, to achieve such results, buyer interest, bidding registrations and actual competitive bidding are the components to achieving great results.
Auction Services Manager