Ray White City Apartments

Leaky apartments are often the best sellers at auction but they are selling for savagely discounted prices

Leaky apartments are often the best sellers at auction but they are selling for savagely discounted prices

The average auction sales rate has increased despite the onset of winter

The average auction sales rate has increased despite the onset of winter

Sales rate of 89% at Auckland apartment auction with investors and owner-occupiers both showing more interest

Sales rate of 89% at Auckland apartment auction with investors and owner-occupiers both showing more interest

Better quality apartments in central Auckland haven't suffered the big price falls of their shoe-boxy cousins, but they generally haven't had big capital gains either

Better quality apartments in central Auckland haven't suffered the big price falls of their shoe-boxy cousins, but they generally haven't had big capital gains either

The opening bid for a waterfront apartment in downtown Auckland was just $500 and it sold under the hammer for $5000

The opening bid for a waterfront apartment in downtown Auckland was just $500 and it sold under the hammer for $5000

A 71% sales rate overall at Auckland housing auctions but things were slower at the apartment auctions

A 71% sales rate overall at Auckland housing auctions but things were slower at the apartment auctions

With hundreds of fixed term rental agreements on Auckland CBD apartments about to expire, investors are worried about the potential for rising vacancy levels and falling rents

With hundreds of fixed term rental agreements on Auckland CBD apartments about to expire, investors are worried about the potential for rising vacancy levels and falling rents

Leasehold units were top sellers at recent apartment auctions but they went for rock bottom prices while art deco apartment fetched top dollar

Leasehold units were top sellers at recent apartment auctions but they went for rock bottom prices while art deco apartment fetched top dollar

Bargain basement prices for meth contaminated apartment and teeny weeny office suite at Auckland CBD auction

Bargain basement prices for meth contaminated apartment and teeny weeny office suite at Auckland CBD auction

Sales achieved on 58% of the properties at auctions monitored by interest.co.nz

Sales achieved on 58% of the properties at auctions monitored by interest.co.nz

Eight out of 10 apartments passed in at auction suggests significant differences between vendors' and buyers' price expectations

Eight out of 10 apartments passed in at auction suggests significant differences between vendors' and buyers' price expectations

Apartments with remediation issues are fetching particularly low prices - one sold for just $35,000 while another with a declared reserve of just one dollar was passed in

Apartments with remediation issues are fetching particularly low prices - one sold for just $35,000 while another with a declared reserve of just one dollar was passed in

There was no shortage of bids at the latest Auckland apartment auctions but buyers were very cautious on price

There was no shortage of bids at the latest Auckland apartment auctions but buyers were very cautious on price

At recent Auckland apartment auctions there were plenty of potential buyers and they weren't afraid to bid but everything that sold went for less than its rating valuation

At recent Auckland apartment auctions there were plenty of potential buyers and they weren't afraid to bid but everything that sold went for less than its rating valuation

Auction numbers may still be low but there are plenty of bidders out there and properties are selling although results are mixed

Auction numbers may still be low but there are plenty of bidders out there and properties are selling although results are mixed