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Auction

Auction Report 11 February 2021

Before looking at our 11 February portfolio, we finished the previous week and started this week with very positive activity.

5 February

22 Caldwell Road, East Tamaki Heights was brought forward from its designated 12 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 offer of $2,850,000 and after some 49 competitive bids from 4 registered bidders, sold “under the hammer” at $3,500,000. This sale highlighted the confidence to buy very well presented home that offered an outstanding viewing landscape, with the bonus for this property, the inclusion of a separate guest unit.

14 Atworth Way, Burswood was brought forward from its designated 11 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 offer of $1,200,000 and after some 31 competitive bids sold “under the hammer” at $1,430,000.

10 February

175 East Tamaki Road, Otara was brought forward from its designated 15 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 offer of $1,050,000 and after some 50 competitive bids sold “under the hammer” at $1,455,000

124 Union Road, Howick was also brought forward from its designated 15 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.

It sold “under the hammer” at $1,220,000.

11 February 2021

Our 11 February portfolio was the 3rd for 2021 and included a quality 11 properties across our residential areas of Pakuranga, Bucklands Beach, Mellons Bay, Botany Downs, Highland Park, Dannemora plus Point England and Papakura, for bidding attention.

The Headsail Room at the Bucklands Beach Yacht Club, the home of Ray White Auctions, again, attracted a 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. There were many highlights throughout the evening:

  • 30 Swan Crescent, Pakuranga faced a lot of competitive bidding and after some 26 bids sold “under the hammer” at $1,500,000 and reflected the demand to secure a very appealing home surrounded by 708m2 of landscaping that has featured as an award winning garden in Home & Garden magazines, and also recognised its special waterfront
  • 1/41 Hattaway Avenue, Bucklands Beach also got away to a positive start selling “under the hammer” at $1,395,000 after some very competitive 43 bids
  • 87 Beechdale Crescent, Pakuranga, attracted another burst of bidding energy once placed “on the market to sell”, and after some very competitive 39 bids sold “under the hammer” at $1,415,000
  • 5 Wynn Place, Howick also attracted competitive bidding, selling “under the hammer” at $1,300,000 after some 19 competitive bids
  • 3 Pirangi Street Point, England attracted a number of registered bidders which reflected the changing face of this area so close to the Tamaki River waterfront with buying interest from both home buyers and redevelopment It sold “under the hammer” at $1,500,000 after some  very competitive 32 bids
  • 1/ 4 Ballycullanie Place, Dannemora also attracted interest from buyers seeking a popular cul de sac close to services. It sold “under the hammer” at $1,440,000 after some 20 bids
  • 11 Cascades Road, Pakuranga sold post auction to the highest bidder resulting in a very satisfactory sale for our vendor.
  • 34 Kelvin Place, Papakura attracted bidding interest but to a level that satisfied vendors to sell “under the hammer”, however, negotiations continue with the bidding interest. We continue to work with the balance of the portfolio and the conditional buying interest to secure a sale for our vendors.

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.

Ken Ralph

Auction Services Manager