The auction market in Christchurch showed no sign of slowing down for Ray White offices last week as a delightful dozen sales were achieved under the hammer for more than $9.59 million.
It really was a terrific week for sellers in the Garden City with innovative internal data showing a 100 per cent auction day clearance rate for the weekly in-room under the hammer event (above).
Ray White New Zealand Auctioneer Ben East said the property market in Christchurch was remarkable with the competition intensifying between bidders and buyers week-on-week.
“The atmosphere at the in-room is incredible. Generally packed to the rafters, most properties are attracting multiple bidders, and that’s achieving some outstanding outcomes. We’re also seeing a lot of interest from outside the city wanting to purchase,” Mr East said.
One of the highlights of the week came in Marshlands as Ray White Full Circle Salespeople Sid Charoenpornsavat and Deepak Gangar sold 36 Karere Avenue (above) for $805,000.
“We had eight registered buyers for this property, including two phone bidders from Auckland. Prices are being blown out of the water with strong interest outside of Christchurch and the demand is outstripping the supply of property at the moment,” Mr Charoenpornsavat said.
Another stand-out result came in Hoon Hay as Ray White Metro Salesperson Racheal Milne successfully managed the $540,000 sale of 51 Leicester Crescent.
“We had 70 groups through the open homes and that led to three registered buyers for this one. Up and coming areas are becoming highly sought-after in Christchurch,” Ms Milne said.