A block of three home units in Papakura that sold for $1.07 million, a large bach on an 864 square metre section in Muriwai that fetched $400,000, and a do up in Sandringham that went for $1.44 million, were some of the highlights at Bayleys' Auckland residential auctions this week.
The Papakura flats (pictured) were standard investor fare: three brick and tile, two bedroom units on a 1012 square metre site.
The Muriwai property had started out as a typical bach but had been extended many times over the years and the Sandringham do-up was a four bedroom villa that had been reconverted back to a single dwelling after previously being carved up as two flats.
Other sales from around the region included a recently renovated three bedder in Avondale that sold for $590,000, a five bedroom house with pool in Flat Bush that went for $1.62 million, a Cheltenham villa that achieved $2.65 million, a house adjoining the Rothesay Bay Beach Reserve that was knocked down for $1.83 million, and Birkdale pad that made $656,000.
To see the full details of Bayleys Auckland residential auctions this week, with photos and details of all properties offered, including those that didn't sell, click on this link.
6 Comments
17 sales out of 30 lots is only a success rate of 57% under the hammer. There's nothing great about that.
Also, although i didn't personally attend the Barfoots morning auctions this week, i was informed by a B&T agent that only 3 sold under the hammer - that is abysmal.
There is a huge amount of new stock listed recently on the market - see the size of the property press. And plenty of the open homes I've visited are very quiet.
I know it's difficult, but i suggest people do their best not to get caught up in the media hype.
Interestingly, I came home late last year and saw our old home on the market which we sold about 3 years ago . They were asking roughly 60% more than what we got for it, apart from new paint work and kitchen not much had changed.. It didn't sell, perhaps somebody are more optimistic than others.
A few weeks ago my wife and i went through a number of open homes and some were busy and some were dead quiet. The market seems hot and cold, but it was no frenzy that's for sure. If i listened to the media i would believe every property for sale was hot which is completely untrue. In fact the agents were hounding me to ascertain my level of interest following my viewing. Generally i've found in the past when the market is truly hot the agents are too busy to thoroughly follow up.
I'm not denying some properties are fetching silly money - because they are. But there is also a lot more choice of recent (NB. trade me numbers for Auckland City were under 1300 early Jan and are now over 2000) and i believe many buyers are now taking their time.
Interestingly there is an especially large amount of high end properties for sale. Why? - maybe the smart money is getting out first.
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