Full in-rooms and high clearance rates the norm in Christchurch

PACKED in-room auction events and high clearance rates have proved to be the new normal as property around Christchurch continued to be a hot commodity under the hammer.

Six out of eight properties successfully sold on the day to the tune of NZ$3,128,500 and Ray White New Zealand South Island Regional Manager Jane Meyer said standing room only (as seen above) at in-room auction events was now a weekly occurrence.

“The strength in the Christchurch property market is incredible right now and that’s evidenced by in-room auctions continuously being packed, with high clearance rates,” Ms Meyer said.

“This really is the new normal for Christchurch and the market is particularly hot when it comes to first home buyers and investors wanting to secure properties as quickly as possible.

“There was bidding on all eight properties, and with clearance rates so high buyers are seeing the value of selling now and they’re asking themselves, what are you waiting for?”

The highlight came at the hands of Ray White Metro Salespeople Bronwyn Williams and Jasmine Rohland as they sold 49 Gilby Street (above) in Linwood for NZ$460,000.

“The auction was called forward after just eight days on the market. In that time, the property had seen 106 visits from 81 separate groups, with 21 expressing interest and five in a position to bid on the day,” Ms Williams said.

“Opening at the NZ$435,000 pre-auction offer, there was a fierce bidding war between four registered buyers, before the hammer fell.

“It was a great result selling NZ$85,000 over teh current rateable value. We had a very happy vendor and joyful buyers - ecstatic over securing their dream home.”

Elsewhere, Halswell’s 27 Brigham Drive sold for NZ$687,000, 37 Bottle Lake Drive in Parklands sold for NZ$675,000, Russley’s 2 Larkhill Place sold for NZ$560,000, 198 Pacific Road in North New Brighton sold for NZ$385,000, and finally, Spreydon’s 2/332 Lyttleton Street sold for NZ$361,500.