-May 29, 2024 By City Sales Ltd

The Sale Details That You Won’t Find Elsewhere: A Recap of Our Latest Auction 29 May

The Market Pulse: Full House, Few Properties

Despite a limited number of properties up for grabs, our auction room has been bustling with energy. Both sellers and buyers are showing up in person, signaling serious intentions from both sides. The atmosphere is electric, with everyone keen to seal a deal under the hammer.

Buyers On the Hunt: In-Person and Online Engagement

Our auctions are attracting a diverse mix of in-person attendees and online participants. It's not just about being present; it's about being ready to make a move. We're seeing multiple buyers registered for each property, keeping our entire team busy with phone bids and on-site assistance. Buyers are eager, prepared, and looking for incredible deals.

Bargains in Demand: The New Normal for Opening Bids

Today's buyers are hunting for next-level bargains. The opening bids might start at laughable figures, but they reflect current buyer perceptions of value. While we used to smirk at a $100k opening bid, today we see bids starting as low as $20k. Surprisingly, these bids are being taken seriously, leading to active negotiations.

Highlight Sales: Unexpected Wins for Buyers

  • Auckland CBD: A 3-bedroom property opened at $25k. Affordable housing in Auckland? It’s happening.
  • Dovedale: Opened at $20k. 

    Both sold under the hammer

What This Means for You: Seize the Opportunity

If you have some spare change, now is the time to talk to a City Sales broker. With the market offering unexpected bargains, there’s a real opportunity to secure a property at a favorable price.

First Home Buyers and Mortgage Strugglers: Look at Apartments

With current trends, apartments are becoming an increasingly viable option for first home buyers and those struggling with mortgages. We can help you navigate these opportunities and find a property that fits your needs.

 

Ready to Explore Your Options?

Connect with a City Sales broker today. Let’s find the deal that works for you in this dynamic market.

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