There was frantic bidding at the first Auckland CBD apartment auction to take place after the Reserve Bank announced a cut to the Official Cash Rate, a move which immediately prompted several banks to cut floating mortgage interest rates.
The auction at Ray White City Apartments' Auckland CBD offices shortly afterwards drew a substantial crowd, even though only two apartments were on offer and one of them was leasehold.
The first apartment to be auctioned was a 53 square metre, two bedroom apartment in the Aura building at 53 Cook St . It had a balcony with good views out over the city looking towards the Harbour Bridge (see photo) and was being sold fully furnished. It was vacant and had been repainted and recarpeted prior to sale but did not have a car park.
It's rating valuation was $260,000 but the opening bid from the floor was $280,000 and then half a dozen potential buyers battled it out, at times offering competing bids with such rapidity that the auctioneer had trouble keeping up, until it sold under the hammer for $380,000.
That was more than the median prices of all homes sold in Whangarei, Hamilton, Napier, New Plymouth, Lower Hutt and Dunedin last month, according to the latest REINZ figures.
However the buyers' enthusiasm did not extend to the luxury 80 square metre, two bedroom apartment with a car park in the Viaduct Point building on Customs St West.
It was on a leasehold title and was passed in after attracting a single bid of $250,000.
Also listed below are the results of 141 residential properties from Northland to Invercargill that were recently auctioned by Harcourts.
Thirty of those were in Auckland where the cheapest was a home unit in Papatoetoe which sold for $480,000.
Of the 30 properties Harcourts auctioned in Auckland, only two sold for less than $500,000.
You can see the results of all 141 auctions in the list below:
Harcourts Auckland Auction Results:
Harcourts Auction Results; Waikato/Bay of Plenty - Rotorua - Taupo:
Harcourts South Island Auction Results:
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