Auction Report 27 September 2022

We highlighted in last weeks report positive buyer activity which was again demonstrated this week with, again, very active bidding resulting in very pleasing “under the hammer” sales for our Vendors.
The buyer response to this portfolio was continued confirmation that buyers recognise that the real estate market price level has settled. With the last quarter of this year very evident, buyers will be focused on requirements for the new year, be that for schooling requirements, size of home or lifestyle. Our Eastern Beaches area offers buyers quality real estate options and quality buying real estate assets.

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. 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 Half Moon Bay, Bucklands Beach, Howick, Cockle Bay but also Papatoetoe and Manukau.

It was so pleasing to see vendors achieving excellent sale results that allowed them to move on to enjoy their current requirements and buyers delighted to have the opportunity to buy quality properties. As indicated above, people taking a positive attitude, not waiting for life to pass them by or waiting to wait.

It was also evident that being able to place 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:

14 Proteus Place Half Moon Bay brought forward from its 4 October designated auction date due to an unconditional offer that was presented to our vendors and accepted subject the property being submitted to auction at this earlier auction date. This 4 bedroom townhouse offered buyers an opportunity to secure easier care living within an up to date indoor presentation and views towards the Marina and beyond. It was subsequently sold “under the hammer” at $1,515,000.

1/17 Seneca Court Golflands offered a brick and tile constructed home set on a 656m² section site, located within the highly sought after Golflands housing estate. The floor plan provides 3 bedrooms lounge and family living complimented by a very pleasing presentation. A positive start and with some 9 bids later resulted in a sale “under the hammer” at $1,118,000.

2/9 Marina Heights Half Moon Bay offered buyers a rare opportunity to move into a highly sought after cul de sac neighbourhood. Brick and tile covers a one level floor plan that provides 3 bedrooms kitchen dining and lounge settings which open out to private outdoor living within a more easier care section size. During the 3 week marketing campaign this property attracted immediate inspection attention from an extraordinary number of potential buyers which highlighted the reputation of this Half Moon Bay neighbourhood. 8 bidders registered for auction, and after some highly competitive 33 bids, it sold “under the hammer” at $1,380,000.

65 Angelo Avenue Howick offered buyers a traditionally built home that radiates its own personality through its very appealing presentation of upgraded kitchen and bathroom complimenting the 3 bedrooms and lounge living. The 680m² section and Howick location may offer future options. 15 competitive bids resulted in a sale “under the hammer” sale at $1,220,000.

7B Nimrod Place Half Moon Bay was another property that drew attention due to its sought after cul de sac address. This one level floor plan unit offers pleasing living space and 2 good sized bedrooms. The comfortable presentation offers new ownership exciting potential to refurbish to new ownership preferences. The easier care sized section is complimented by neighbourhood recreation with Nimrod Park at the end of the cul de sac and adjacent Falstaff Place accessing Falstaff Reserve. Justified determined ownership resulted in another sale “under the hammer” at $945,000.

The balance of the portfolio has attracted buying interest that was not able to register to bid on an unconditional basis , so we continue to work with these interests to secure a sale that is satisfactory to our vendors.

So, after three weeks of marketing, extremely pleasing, positive, response to the three weeks of marketing. A market confidence result, however, 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
Auction Services Manager