Prices ranged from $108,500 to $2.175m at Harcourts auctions last week

You could have bought three houses in Invercargill for the price of a one bedroom unit in Avondale at last week's Harcourts auctions

Property

You could have bought three houses in Invercargill for the price of a one bedroom unit in Avondale at last week's Harcourts auctions

15th Jul 15, 4:38pm by Greg Ninness

The cheapest home sold at Harcourts auctions last week was a three bedroom brick house in Invercargill (pictured) that went for $108,500.

The cheapest property Harcourts auctioned in Auckland was a basic one bedroom downstairs unit in Avondale, which sold for $370,000, which was nearly 3.5 times as much as the Invercargill house.

The most expensive Auckland property was a house in the Stonefields development which went for $1.401 million.

In Hawkes Bay prices started at $315,000 for house in Napier and in the Bay of Plenty you could have picked up a house in Papamoa for $275,000.

In Christchurch prices ranged from $259,000 for a house in Linwood to $2.175 million for a house in Fendalton.

The full results of last week's auctions are listed below:

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1 Comments

by Chris_J | 15th Jul 15, 10:30pm 1436956246

The one that sold for $2.175m in Clyde Rd Fendalton was an "as is" house which was very badly damaged (not rentable as most of the plaster on the ground floor had severe damage). Also needed new foundations and was visibly out of level.

My estimate would put it at a $2.5m plus rebuild. A repair to a lesser standard could probably be achieved for about $1m.

Interesting that that house sold about 2001 in tidy order for $700k. If we assume an insurance payout of between $1.5 and 2m (for a repair) then the 2015 value achieved was about $3.7 to 4.2m, ie a 5 to 6 fold increase in under 15 years.