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Buyers out in force at latest apartment auctions by Ray White and City Sales

Property
Buyers out in force at latest apartment auctions by Ray White and City Sales

There was a good turnout by both investors and potential owner-occupiers at the latest Auckland apartment auctions, resulting in plenty of competitive bidding.

At Ray White City Apartments' rooms on Lorne St, 11 units were up for grabs and they ranged from apartments in the luxurious Metropolis building to leasehold shoe boxes in student accommodation blocks, so there was something for everyone.

Two apartments in the Metropolis building were offered, with a two bedroom unit with a car park selling under the hammer for $706,000 while a one bedroom unit with no car park was passed for sale by negotiation.

A one bedroom unit with no car park in the character Hampton Court building near St Matthew-in-the-City on Federal St sold for $430,000, and two leasehold studios in the Unilodge student accommodation building were offered as a single lot which sold for $80,000 plus GST if any ($40,000 plus GST each).

All up, six of the apartments on offer were sold under the hammer with five passed in for sale by negotiation.

At City Sales' latest auction, only one apartment was on offer, a two bedroom unit in the Eclipse building on Vincent St, but several bidders competed fiercely for it until one by one the fell by the wayside and the two remaining bidders slugged it out, each increasing their bids by $250 increments until it sold under the hammer for $525,250.

To see all of the latest auction results form City Sales and Ray White City Apartments, with details and photos of all properties including those that didn't sell, go to our Auction Results page by hovering your cursor over the Property tab just under the banner at the top of this page and select "Auction/Sales Results" from the drop down menu, or simply click on this link.

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9 Comments

Nick Smith on the Nation Sat morning.....what a disaster..wriggle wriggle deny deny deny. Pathetic

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Really?

The interview must have been rehearsed or Nick Smith is too slippery for Gower
Watched the first 10 minutes - Gower was pointing the finger right in Smith's face, waving his arms and hands and generally trying to get up Smith's nose

Slick Smith didn't miss a beat, didn't stumble, most composed, with political spin

Uttered a lot of BS that Gower couldn't and didnt counter

Have another look
http://www.newshub.co.nz/tvshows/thenation/interview-nick-smith-2016082…

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I expected Gower to challenge him about foreign buyer "stats" but he did not even look like doing it, I thought Gower did not do a great job at all.

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John Campbell should be hosting one of these programs. He is doing a great job on RNZ. But it doesn't get the exposure of a TV show. These 7pm TV shows should be doing these type of interviews, but they are not just magazine programs, which isn't good for democracy in NZ.

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Ruddy will be spending several hours a week in "media training".

He still isn't fooling many.

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Really smith came across in that interview as a slippery eel who really couldn't give a toss about the housing situation. Is this the Brighter Future we were promised?

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Really smith came across in that interview as a slippery eel who really couldn't give a toss about the housing situation. Is this the Brighter Future we were promised?

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Yes

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I thought Smith's continuing argument that house prices would continue up at 'single-digit' price increases was morally bankrupt. It implies that govt expects house prices to increase at a rate that exceeds the directions it provides to the Reserve Bank to maintain inflation at the 0-3% range. It would have been easy to say we expect limited further housing price increases for the next ten years, or in line with the reserve bank inflation expectations. That would have at least been justifiable in a political sense. He could also have sent a warning to new home purchasers that there was a rise of falling prices. However, he continues the myth and the ponzi scheme of Auckland house prices never declining - which makes the whole market more dangerous

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