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The unprecedented success of the first Ray White Auction Spectacular in March this year means the landmark series of trans-Tasman super auctions is here to stay. Numerous desirable properties went under the hammer in 25 locations across Australia and New Zealand in events that attracted enormous media attention and achieved extraordinary success in a difficult economic climate.

Over 700 properties were listed for sale and excellent clearance rates achieved across the board, with NZ’s auction generating over $49 million in sales. The event contributed to an outstanding March, during which Ray White generated record sales of $2.57 billion!

The Auction Spectacular brings together the strength of every arm of the Ray White Group, including Residential, Commercial, Rural, Property Management, Loan Market Group and Ray White Concierge.


Any vendors sitting back or adopting a ‘wait and see’ approach are strongly advised to take advantage of interest rates at a 45-year low and plummeting mortgage rates. Strong buying opportunities combined with the fact that selling and buying in the same market generally procures the same net result, make now the ideal time to upgrade or re-locate, with the added advantage of capital growth as the market strengthens.

The stunning success of the first Ray White Auction Spectacular also illustrates that property auctions continue to offer many advantages over private treaty sale. Whether selling a home or commercial property, the auction process has been proven to be the most likely method to attract genuine buyers.

Well-marketed properties presented at auction sell much faster (in around 30% less time) than those sold through a private sale.

Property auctions, particularly in unpredictable markets, are proven to be the best way to find the real value of a property – for both the vendor and the purchaser.

Victoria’s next Auction Spectacular is being held on Sunday, June 21st at the Sofitel Melbourne on Collins. Vendors interested in taking advantage of this promising opportunity, whether in Victoria or anywhere in Australia or New Zealand, should contact their local Ray White agent or visit as soon as possible.

Written by Ray White New Zealand

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