The red-hot auction market in Christchurch continued to fire last week as Ray White offices sold a whopping 20 out of 21 properties under the hammer for more than $12.9 million.
The Garden City has enjoyed sustained auction success since the beginning of the year with an outstanding auction day clearance rate of 92.9 per cent, as per innovative internal data from Australasia’s leading real estate group.
“This really was a landmark week for auction outcomes in the great city of Christchurch with some truly incredible results for our sellers,” said Ray White New Zealand Auctioneer Ben East.
“These properties had everything from strong enquiry and open home attendances, through to multiple bidders and sale prices that far exceeded the hopes of our valued sellers.”
The highest in-room auction sale came courtesy of Ray White New Brighton Salespeople James and Georgina Wells as they sold 89 Travis Country Drive (above) in Burwood for $985,000.
“There was strong interest in this property with four of the seven registered buyers actively competing against each-other once the auction kicked off,” Mr Wells said.
“This was a large family home and buyers were looking at getting into the school zone. The supply of property is still low and that is helping to create competition during campaigns.”
Another stand-out sale came in Bishopdale as Ray White Next Step Salespeople Elpi Lakakis and Rebecca Adendoff successfully sold 18 Leacroft Street (above) for $875,000.
“This auction was brought forward at $650,000 and subsequently sold under the hammer 21 bids later for $875,000,” Ms Lakakis said.
“We had 14 buyers registered and a dozen of them raised their paddles to compete. The price is an indication that the developer market is still strong.”