Bid Day Out

PHOTO: Property Brokers.

Now in its second year, the Bid Day Out auctions have again attracted buyers and investors from far and wide across provincial New Zealand.

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Having already completed more than 240 auctions since February 1st, Property Brokers is gearing up for another great month of property transactions despite media reports of a slow start to the housing market for 2024.

“The clearance rate is likely north of 50% for our Hawke’s Bay, Manawatu, Wairarapa and Waikato regions,” said Property Brokers’ Managing Director, Guy Mordaunt. “It’s been a fantastic start to our Bid Day Out auction events. The team are buzzing, and buyers and vendors are thrilled.”

The Bid Day Out auction events showcased a diverse range of quality provincial properties, garnering lots of interest, from residential homes to commercial properties, catering to the needs of all buyers. The auction events offer vendors a chance to present their properties to a wide audience and secure great prices.

Simon Short, Property Brokers’ Bay of Plenty and South Waikato Regional Manager, said, “We couldn’t be more thrilled with the outcome of our auction events. We closed our auctions with over $10 million done under the hammer. This speaks volumes about the strength and vitality of our market.”

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According to the Real Estate Institute of New Zealand, 2995 residential properties were sold in January 2024, with reporting sales at their second-lowest level in the last 32 years. However, Property Brokers’ sales performance in January 2024 bucked the national trend.

Property Brokers’ Hawkes Bay/Gisborne Regional Manager, Joe Snee, said, “We had twenty-eight quality properties programmed for sale and successfully sold fourteen on the day, with four more currently under negotiation. The turnout was exceptional.”

Backed by the strength of a 37-year track record in provincial New Zealand, Property Brokers combines local knowledge with comprehensive marketing campaigns and the unique network of Property Brokers’ nationwide salespeople working as a True Team to deliver outcomes that consistently exceed vendors’ expectations.

Property Brokers’ Managing Director, Guy Mordaunt, said, “The start of this year saw a 22% increase in property sales compared to January 2023. Our open homes have been very well attended, too. We anticipate a very active year if January and February are anything to go by. We are thrilled for all our vendors and buyers.”

“A standout highlight has undoubtedly been the Bid Day Out Auction events. We’re enormously proud to bring diverse properties to market, offering buyers a wide range of options.”