May 2023 National Update

Auction exposure generates new listings for Apollo clients as the market turns!

It will come as no surprise that as we look back on Apollo Auctions NZ May statistics, that there was a lift in activity and clearance across the board. Even the media has followed suit reporting a turn in the market, with suggestions of some balance ahead.

Auckland saw a lift on the average active bidding number to 2, and for the first time in a while - over 60% unconditional clearance within a 42 day period. Just shy of 10% of properties were placed under contract in the same time frame, giving a 69.9% combined result.

The regions also saw positive lifts in combined clearance - Northland (78.1%) , Central North Island (57.7%) and the standout, Canterbury (100%).

The most positive and encouraging stories from the market however, have been the growth in new listings our clients are seeing from taking properties to auction as the market lifts. Pipeline owners that are making decisions for spring time are attending auctions, watching the teams work, and listing on the spot in some cases!

Stories and videos with multiple bidders and unexpected results are also being shared, sparking a glimmer of hope into those considering a move in the next 6 months.

There is no other method of sale that enables the market to physically watch the work being done to achieve the result. Other methods are behind closed doors and lack the same ability to convert prospective vendors.

As the market gains momentum out of the slump, now is better than ever to open the doors to the public and let them marvel at the process. Interestingly, even properties that are being passed in have had owners intrigued around how the process works in a tougher market.

If you would like to know more about how to run successful auction campaigns for your office or team, please touch base with one of our award winning auctioneers in your location.

Rob & Tim

Well, what a month it's been. Paul Glover competing in the Rising Star competition at this years REINZ Auction Champs. Mike Wilson competing in the Open Division. Robert Tulp our seasoned veteran who once again made the final of the Premier Division, and of course Johnny Bright who took out the top spot by winning the Open Division. Congratulations to you all. We are all very proud of your achievements.

https://www.apolloauctions.co.nz/