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$10.6 Mil Auction Success Bodes Well for Summer

NEWS RELEASE

$10.6 Million Auction Success Bodes Well for Summer According to Top National Auctioneer

For Release: 11 October 2005

If what’s happening in a Christchurch property auction room is anything to go by, the traditional “Spring rush” which sets the scene for a busy summer ahead has taken off, according to New Zealand Auction Champion, Roger Dawson of Harcourts Grenadier Christchurch.

Mr Dawson reported that in the last three Thursdays alone, $10,648,000 of property had sold ‘under the hammer’ at their state of the art auction rooms in Harcourts’ Madras St office.

“Auction sales are very strong at present with vigorous buyer enquiry. Of the 27 properties offered in the last three weeks, 2 sold prior and 20 sold under the hammer with prices ranging from $185,000 to over $1.4 million for a total sales value of $10,648,000.” He added that a number of the homes had four or five bidders competing for them, with the five remaining properties attracting strong interest.

Mr Dawson said that while Winter traditionally saw auction activity slow, their auction rooms saw 28 auctions conducted in July, followed by 23 in August, jumping to 41 in September with early indications showing October numbers would also be in excess of 40.

“We have definitely noticed an increasing trend towards auction, with our numbers almost double what they were three years ago.”

Harcourts Grenadier has invested heavily in its auction facilities, with a new state of the art auction room re-opening earlier this year providing upmarket hi-tech facilities to the public at the 1pm Thursday auctions as well as broadcasting them live on the Internet for international viewing.

ENDS

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