The Auckland apartment market got off to a flying start at Ray White City Apartments' first auction of the year, with a Parnell apartment's price increasing by 55% in less than three years.
There were only two apartments offered for sale at the auction, both of which were likely to appeal to owner-occupiers.
The hot summer's day did not deter potential buyers from turning out and there was competitive bidding on both units.
The whole show was over in 10 minutes, with both units selling under the hammer, allowing all concerned to adjourn to the beach or their favourite watering hole for the afternoon.
Details of both sales are below:
6/27 Cheshire St, Parnell. Aero building. A 45 square metre, one bedroom apartment with a narrow balcony and a basement car park. Vacant. It had an interesting sales history. According to QV.co.nz it was first purchased in March 2012 for $240,000, then sold again in June last year for $310,000. It was subsequently given a makeover, dressed to within an inch of its life and put back on the market in November, selling at this week's auction for $365,000. It's rates were $1249 and the body corporate levy $3362. The agent was Donald Gibbs.
4e/22 Emily Place. Four Seasons building. An 83 square metre, two bedroom unit in a high stud character building. Vacant. Sold for $565,000. According to QV.co.nz it was last sold for $290,000 in 2004. Rates were $1395 and the body corporate levy $7245. The agent was Gillian Gibson.
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