While the mid-winter months of July and August are usually associated with a ‘hibernation’ of activity in the residential property market around New Zealand, the scenario has been completely the opposite for Auckland inner-west real estate sales professional Blair Haddow.
After completing six substantial sales in six weeks – an achievement any real estate agent would be envious of achieving in a booming property cycle, let alone the current market – Blair Haddow’s portfolio of successful sales through Bayleys Ponsonby has confounded the market.
And Bayleys’ well-honed auction marketing programme and processes are being credited for driving the sales. Blair’s trail of trend-defying list of sales over July and August includes:
18 Bayfield Road in Ponsonby – a totally remodelled and elegant four-bedroom/two-living room/two-bathroom split level villa featuring a huge open plan living and entertaining area leading out to the private back deck and hedged garden which was being marketed for sale through an auction process until the vendors accepted a pre-auction offer of $3.5 million.
Penthouse 11D in Highgate Tower at 8 Howe Street in Freemans Bay – a three-bedroom/two-bathroom two-level penthouse apartment with stunning unobstructed views over the city immediately below, and the Waitematā Harbour beyond – which was sold post auction after being advertised at $2.250 million. The sale figure ranked as the second highest price ever achieved for an apartment sale in Highgate Tower.
12 Dryden Street in Grey Lynn – an immaculately presented three bedroom, early-1900s villa which was taken to auction earlier in the year but didn’t sell at that stage, even though there was bidding in the room and offers shortly afterwards. However, just hours before the next round of marketing was about to begin on a follow up auction campaign, an unconditional cash offer came in which was accepted by the vendors who were happy that they had followed Blair’s marketing advice.
Apartment 1005 at 8 Hereford Street in Freemans Bay – a very chic three-bedroom/two-bathroom corner apartment on the 10th floor of the Hereford Residences Tower, complete with two secure car parks – which sold at auction of $2.125 million.
233 Jervois Road in Herne Bay – a gigantic six-bedroom/four-bathroom family bungalow home of some 490 sq m, offering a raft of room configurations and uses including work from home office space, complete with garaging for four cars, and an in-ground swimming pool at the rear – which was sold after being advertised for $5.895 million.
3A Umere Crescent in Ellerslie – a four-bedroom/three-bathroom two storey executive residence which was taken to auction in May this year. It didn’t sell under the auctioneer’s hammer at that stage, but a second auction for the home saw it sell under the hammer recently for $2.908 million – some $200,000 more than the bid which the eventual buyer registered at the first auction.
Sales data just released by Bayleys Real Estate’s head office shows that if a residential property fails to initially sell directly under the auctioneer’s hammer, it is 121% more likely to sell within the ensuing 30 days than any other method of marketing – such as by negotiation, with a fixed price or by tender.
Additionally, the Bayleys’ statistics highlight that a residential property which fails to initially sell directly under the auctioneer’s hammer is 43% more likely to sell within 90 days compared to any other ongoing form of marketing.
“The agency stats, in conjunction with my July/August sales, are clear evidence that the auction process is incredibly efficient at delivering desired results for vendors – either directly under the hammer, or during the ensuing period where the value of utilising a hard-working real estate agent really comes to the fore,” said Blair, who specialises selling residences in the Ponsonby, Herne Bay, Westmere, Grey Lynn and Pt Chevalier locales.
“With such a high turnover of properties, the challenge for me is constantly having to find new stock to put before buyers – many of whom are under-bidders on my listing auctions, so I know exactly what they are looking for, and what price range they are positioned in. That is powerful information which I am happy to share with potential vendors looking at who to list their home with to sell.”
Blair had two other listings going up for sale under the Bayleys auctioneer’s hammer as this edition of Ponsonby News was going to press. Keep an eye out in the October edition of Ponsonby News for coverage on how these campaigns rolled out. (Blair Haddow)
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Published: August 2023