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Prices of two bedroom properties ranged from $315,000 to $1.03m, townhouse sells for $3.5m at Bayleys' auctions

Property
Prices of two bedroom properties ranged from $315,000 to $1.03m, townhouse sells for $3.5m at Bayleys' auctions

There was a swag of two bedroom properties auctioned last week by Bayleys and their prices ranged from $315,000 for a two bedroom apartment above a block of shops at Albany on the North Shore, to $1.03 million for a two bedroom house in Onehunga.

The top price of the week was $3.5 million for a new home in Epsom.

See below for the full results of Bayleys residential auctions last week with details and photos of all properties, including those that didn't sell.

Two bedroom properties auctioned by Bayleys last week: 

4A Park Ave, Birkenhead (below)A 1970's, two bedroom brick and tile unit with large basement and a half share of an 1128 square metre section.

Sold for $706,000.

23/239 Rosedale Rd, Albany (below). A two bedroom unit with two decks, on the upper level above a block of shops. Sold for $315,000.

2/459 Glenfield Rd, Glenfield (below): A two bedroom unit with two decks. Sold for $590,000. 

9G/11 Howe St, Freemans Bay, Auckland (below). A two bedroom, two bathroom , penthouse apartment on two levels, with a car park and harbour views. Sold for $602,000.

1/111 Trafalgar St, Onehunga, Auckland (below). A two bedroom house. Sold for $731,000.

32 Mariri Rd, Onehunga, Auckland (below). A two bedroom house. Sold for $1.03 million.

1/31 Gulf Crest, Bucklands Beach (below). A two bedroom unit with single garage. One of two in the same block auctioned on the same day. Sold for $720,000.

2/31 Gulf Crest, Bucklands Beach (below). A two bedroom unit with a single garage (in the same block as the unit above). Sold for $700,000.

Below: All residential properties auctioned by Bayleys last week:

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7 Comments

Words just don't do any justice whatsoever for a while now... and trying to silently shake my head has now failed too.

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Market crash and bubble predicting experts on interest.co.nz, we solicite your view.

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It's going to go up and up and up for ever, ever and ever

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It's going to go up and up and up for ever, ever and ever

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4-6mths post Dec 2014 Russian stock market crash, selling by Russian investors in London residential property became apparent and is becoming a deluge. Would expect the same to start showing up in Auckland due to Shanghai stock exchange rout near the end of the year. These investors are leveraged and will be getting margin calls on share portfolios, their businesses will be in trouble and it will get ugly. Even if offshore funds dry up the Auckland market will fall, no more crazy auction comparables for valuers to base registered valuations on. It will get nasty especially so if you throw forced selling into this mix. A lot of these Chinese based loans are denominated in US dollars that in combination with a falling NZ dollar will exacerbate the problems.

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41% brought in june by investors, once the confidence goes out of the market and the banks tighten for investors I.E higher LVR and interest rates who will be left to buy and sell these houses

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Interest rates are going down - sub 4% soon. LVR of 20% across NZ in place for last 12 months has seen prices increase, not decrease. 30% investor LVR in Auckland will make no difference to established investors.

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