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Auction

Auction Report 17 May 2021

Our 17 May portfolio , was the 17th for 2021, and 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, Bucklands Beach, Eastern Beach, Cockle Bay, Flat Bush and properties from outside of our Eastern Beaches residential area – Panmure , Otara and Papatoetoe.

Joining this portfolio were 77B Litten Road, Cockle Bay and 17 Eastern Beach Road, Eastern Beach which were brought forward from their designated 24 May auction date.

A highlight of the evening and pleasing for vendors, was the very active number of bids from multi bidding registrations.  As highlighted in my recent reports, it was so pleasing to see vendors achieving sale results that allowed them to move on to enjoy their current requirements and buyers delighted to have the opportunity to buy quality properties. People taking a positive attitude, not waiting for life to pass them by or waiting to wait.

As noted in previous weeks reports 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:

77B Litten Road, Cockle Bay got the evening off to a positive start having been brought forward from its 24 May designated auction date due to an unconditional offer that was presented to our vendors and accepted subject the property being submitted to auction at the earlier auction date. From its preauction offer of $1,478,000 and some further 8 bids, it sold “under the hammer “at $1,510,000.

17 Eastern Beach Road, Eastern Beach followed also having been brought forward from its 24 May designated auction date due to an unconditional offer that was presented to our vendors and accepted subject the property being submitted to auction at the earlier auction date.

Our Vendors were certainly rewarded for the impressive presentation of their home and outdoor living, from its positive preauction offer of $1,810,000 and some further 12 bids, it sold “under the hammer “at $1,925,000.

141 Clovelly Road, Bucklands Beach reflected the continuing demand for refurbish or redevelopment opportunities. After some 18 bids it sold “under the hammer “at $2,140,000.

9 Alton Terrace, Pakuranga was placed to sell after a 50-year ownership, a home built by our Vendors surrounded by a 1146m2 section. It was pleasing that buyers responded to the attributes of this home with 32 bids ending in a sale “under the hammer “at $1,710,000.

27 Carole Crescent, Pakuranga is a corner section sited 731m2 with its zone status offering future options. Bidders perhaps concentrated on the zoning rather than just the three-bedroom home with after 38 highly competitive bids, its sold “under the hammer “at $1,681,000.

52 Churchill Road, Cockle Bay offered buyers distinctive design features, sea views and excellent presentation. Very competitive 29 bids eventually secured a sale “under the hammer” sale at $1,866,000.

27 Dunkirk Road, Panmure.

Buyers were offered the opportunity to buy the balance of this eight-townhouse development. At earlier auction dates four of these townhouses were sold” under the hammer “. These brand new townhouses within this townhouse complex are situated opposite the Mt Wellington War Memorial Reserve bordering the Tamaki River, with buyer interest demonstrating the demand for quality contemporary easy care living to meet modern lifestyle requirements.

3/27 Dunkirk Road sold “under the hammer “after some 19 bids at $1,132,000

4/27 Dunkirk Road sold “under the hammer “after some 5 bids at $1,105,000

6/27 Dunkirk Road sold “under the hammer “after some 23 bids at $1,116,000

Three properties received bids that did not result in sales “under the hammer “and negotiations continue for these and the balance of the portfolio.  At the time of completing this report we continue to work with buyer interest to secure a sale that is satisfactory to our vendors.

So, after three weeks of marketing, extremely pleasing, positive and competitive bidding resulted in properties being sold under the hammer.  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

Auctions Services Manager