Leasehold unit in Parnell sells for $207,500 and a 1 bedroom unit in a leaky building on Queen St fetches $181,000

Results varied widely at this week's main Auckland apartment auctions, with apartments that may be suitable for owner-occupiers tending to sell more readily than traditional investor fare.

At City Sales' regular auction three apartments were offered and two sold under the hammer, with one attracting multiple bidders and just a single bidder on the other.

The apartment that was passed in was part of the Quest hotel complex in Newmarket.

At Barfoot & Thompson's auction five apartments were offered, one with a pre-auction bid of $410,000 which had been accepted subject to higher bids being received at the auction.

However there were other potential buyers prepared to bid more and it ended up selling under the hammer for $439,000, so taking it through to auction to test the market had been a worthwhile exercise.

However all of the remaining four apartments were passed in.

Ray White City Apartments had 11 apartments on offer this week and seven were sold under the hammer, including one in a leaky building at the top of Queen St, which went for $181,000 and a leasehold unit in a building at the bottom of Parnell that went for $207,500.

So although the market is quieter than it was a few months ago, apartments are still selling if vendors are realistic in their price expectations.

You can see the full results from all three auctions, including the prices achieved on those that sold, on our Auction/Sales Results page.

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