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Auction

Auction Report 19 July 2021

Our 19 July portfolio attracted very pleasing active bidding which resulted in

“under the hammer“ sales for 6 of the 7 properties.

This was our 26th Auction Portfolio for this year and 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, 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 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, Sunnyhills, Howick, Cockle Bay but also a redevelopment opportunity in Mt Wellington.

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 wanting to wait.

As also 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:

78 Stanniland Street Sunnyhills got the evening off to a positive start having been brought forward from its 26 July designated auction date due to an unconditional offer that was presented to our vendors and accepted subject to the property being submitted to auction at the earlier auction date. The three bedroom home is surrounded by a 619m2 section which attracted  family buyers who also recognised the opportunity to join a sought after junior to senior school zone neighbourhood. After the pre-auction offer of $1,580,000 and some 15 bids, it sold “under the hammer “ at $1,667,000.

5/3 Picton Street Howick offered buyers a more rare opportunity to buy a very easy care one bedroom unit right at the edge of the heart of Howick Village and also to buy in a very rare sensible price level. After 6 bids it sold “under the hammer “at $543,000.

36A Kentigern Close Pakuranga offered new ownership of a home of unit style that offered easier care aspects, a very private position that absorbed Tamaki Estuary views from the living room and decking. A positive start and with another 11 bids it sold “under the hammer” at $1,155,000.

3/5 John Gill Road Cockle Bay was another more rare easier care unit in a popular neighbourhood of predominantly family sized residences. Besides its fresh bright presentation new owners will enjoy the decked outdoor living and the natural belt of landscaping at the boundary enclosing a very private setting. It sold “under the hammer” after 11 bids at $850,000.

1 Paradise Place Pakuranga offered buyers a lot of exterior style and landscaping but also interior design elements that provided very pleasing lounge and dining spaces, 3 bedrooms but also a sky lit mezzanine room that offers utilisation options. It sold into new ownership after some 31 very competitive bids selling “under the hammer” at $1,460,000.

107 Mount Wellington Highway Mount Wellington attracted attention from buyers who could see future value in a three bedroom home surrounded by a 671m2 regular shaped section. After some 26 very competitive bids it sold “under the hammer” at $940,000.

So, after three weeks of marketing, extremely pleasing, positive, competitive bidding, for the six 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 on/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.

16 July

85 Second Avenue Beachlands attracted buying interest that resulted in the property being brought forward from its 26 July designated auction date due to an unconditional offer that was presented to our vendors and accepted subject to the property being submitted to auction at the earlier auction date.  The buying interest again emphasised the demand from young and older alike to move to part of our Eastern Beaches area that continues to witness positive growth.

From the pre-auction of $1,090,000 and a further 40 very competitive bids it sold “under the hammer” at $1,152,000.

Ken Ralph

Auction Services Manager