the Southern | Market Update July ’22

Action at this week’s auctions was reminiscent of last year’s boom after eight bidders generated a whooping 246 bids to produce a $1,213,500 result in 173 Portage Road in Papatoetoe.

Notably, 171 of those bids came after the property was announced on the market at a level reflecting buyer feedback over the 3-week campaign leading up.

The vital lesson coming out of it is this: auction remains the best method of sale even under subdued market conditions if you don’t want to run the risk of underselling your property and a quicker sale is desired.

Congratulations to the listing agents Denise Wong and Rose Pham for their exceptional work on the campaign.

The result capped off a month that not only started strong but in a week that contradicted negative media sentiment with 66 per cent of our auction stock clearing and 100 per cent of that stock attracting competitive bids.

Contrast and compare that activity with our nearest competitor which, in the same week, recorded a mediocre 13% clearance rate and of that stock, only 53% attracted bids. 

Clients are recognising now more than ever, the importance of placing their property in the hands of high-performing agents underpinned by South Auckland’s most dominant agency to achieve premium outcomes that position them to make the next move in life.

Our in-house auctioneer, Sam Steele, said it best “South Auckland is still very buoyant, but only if you list and sell with the best in the business!”