Do auctions still work?

From our archive: June 2022. This article records auction-campaign figures reported by Ray White Invercargill at that time. They are historical figures, rather than current performance measures or a forecast for a property.

The campaign figures reported in 2022

The office reported an average of 29 days on market for auction campaigns and a 73.9% clearance rate over 90 days. For private treaty, the reported figures were 27 days and 59.2% respectively.

The auction-campaign figures included properties sold before auction, withdrawn or converted to private treaty, as well as those taken to the auction room. They describe the wider campaign group and should not be read as a sale-under-the-hammer rate. The original article did not provide a full methodology or sample size.

Considering an auction today

An auction sets a date and process around which buyers and sellers can prepare. A property may sell beforehand where the campaign terms allow it, at auction, or through negotiation afterwards. The appropriate method depends on the property, likely buyers and the seller’s circumstances.

For current information, read our sale-method guide or talk with our team about your property. Historical office figures should be considered in their original context when comparing options today.