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Auction Report for 9 November 2020

The “Spring Market” is producing a volume of quality properties which have enabled us, once again for the second week in November, to provide a portfolio of properties across our residential areas of Pakuranga, Sunnyhills, Farm Cove, Mellons Bay, Howick, Cockle Bay, Burswood, Dannemora and Flat Bush, plus a unit in Greenlane.  Our auction venue at the Bucklands Beach Yacht Club attracted bidding interest which ensured that our 9 November portfolio benefited from the bidding buyer activity we have experienced over recent months.

Highlights included:

16 Wheatley Avenue in Pakuranga, which was brought forward from its designated 16 November auction date due to an unconditional, pre-auction offer having been accepted by the vendor, subject to the property being submitted to auction on the earlier date.  It sold ‘under the hammer’ for $1,050,000.

112/24 Wellington Street, Howick, a best positioned apartment in The Terraces, sold ‘under the hammer’ for $1,010,000.

38 Kestev Drive in Flat Bush attracted 13 competitive bids, selling ‘under the hammer’ for $1,363,000.

32 and 32A Tiraumea Drive, Pakuranga also sold ‘under the hammer’ for $1,292,000.

131 Burswood Drive in Burswood was rewarded for its detailed presentation and, after some 67 bids, sold ‘under the hammer’ for $1,321,000.

13 Rodney Street, Howick was another property rewarded for a contemporary presentation and, after some 17 bids, sold ‘under the hammer’ for $1,315,000.

8 Ellesmere Crescent in Pakuranga also attracted competitive bidding to sell ‘under the hammer’ for $1,330,000.

3/11 Matai Road, Greenlane offered new ownership refurbishing potential and, after some highly competitive 112 bids sold ‘under the hammer’, for $1,415,000.

Post negotiations for Pine Terrace in Howick and 20 Stannilands Street in Sunnyhills have resulted in a sale for our vendors, while post auction negotiations continue with the bidding and buyer interest for the balance of the portfolio, to affect a successful sale for our vendors.

So, after more than three weeks of marketing we have achieved extremely pleasing, positive and competitive bidding, providing great results for our vendors whose properties sold under the hammer.  However, it should also be acknowledged that the sales provided buyers with an opportunity to purchase quality real estate assets knowing that, while having to competitively bid/buy to be the ‘winner’, they were bidding/buying property which 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.

With just two portfolios left for November and two for December, the year is disappearing quickly.  Nonetheless, these last 2020 portfolios will give buyers an opportunity to evaluate the buying options for quality properties, along with our ability to give prospective buyers direct access to a highly experienced, award winning team of mortgage advisors, who have access to a variety of lending institutions and their very favourable mortgage conditions.

As a foot note, I keep an eye on Australian trends through reports published by Williams Media.

There has been no auction summary content across the main cities this week.

Ken Ralph

Auction Services Manager