Christchurch auctions hammer home over $6.5M

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Auction in-room success for Ray White offices across Christchurch continues to impress as 10 properties sold under the hammer for more than $6.5 million combined.
 
Innovative internal auction data from Australasia’s leading property group, Ray White, showed the Garden City had enjoyed an auction day clearance rate of 88.4 per cent under the hammer since the start of the year.
 
“All eyes continue to be on the incredible prices achieved in Auckland, but the auction success in Christchurch is just as incredible,” said Ray White New Zealand Auctioneer Ben East.
 
“Nine in every 10 of our properties that have an auction campaign successfully sell, and as we have seen many times, that has led to tremendous outcomes for our sellers.”
 
One of the highlights of the week came courtesy of Ray White Metro Salesperson Racheal Milne as she sold Woolston’s 2/70 St Johns Street (pictured above) for $460,000.

“This campaign was attracting both investors and young families and that led to two of the registered buyers actively competing against each-other,” Ms Milne said.
 
“The market remains strong and we’re still seeing the demand for stock outstripping the supply and buyers are still wanting to purchase.”
 
Another stand-out came via Ray White Metro Salesperson Rebecca Toone as she successfully sold 136 McFaddens Road (pictured above) in St Albans for $440,000.
 
“We had 21 groups through during the open homes with three of the registered buyers being a mix of land bankers and developers,” Ms Toone said.
 
“From what we can see on the ground, we’re not witnessing any effect on the market from the recent changes in LVR by the New Zealand Government.”