There was competitive bidding on three of the four apartments put up for auction this week by City Sales. However, a leasehold apartment in Parnell was passed in when the only bid for it was made by the auctioneer on the vendor's behalf.
The bidding was particularly keen for a large one bedroom unit in the Heritage Grand Tower and it sold for $612,000 even though it had outgoings of $13,529 a year.
See below for the full results:
- 1006/22 Nelson St. Heritage Tower building. A 72 square metre, one bedroom, fully furnished unit with a car park and balcony. Vacant. There were multiple bidders and it sold under the hammer for $612,000. Rates were $4099 and the body corporate levy $9430. The agents were Lucy Piatov and Chris Bell.
- 1E/11 Charlotte St, Eden Terrace. Memphis building. A 60 square metre, two bedroom unit with two car parks. Vacant. There were multiple bidders and it sold under the hammer for $460,000. Rates were $1376 and the body corporate levy $4307. The agents were Ivan Tvrdeich and David Brooksbank.
- 101/149 Nelson St. Ascent building. A 39 square metre, one bedroom unit. Rented at $320 a week. The building has been under remediation and some of this work is not yet completed. It was offered for sale on an "as is" basis. There were multiple bids and it sold under the hammer for $240,000. Rates were $953 and the body corporate levy $2553. The agents were Lucy Piatov and Chris Bell.
- 201/86 The Strand, Parnell. Mirage building. A 90 square metre, three bedroom, two bathroom unit with two car parks. Leasehold. Vacant. When there was no opening bid the auctioneer made a vendor bid of $290,000 and when there were no further bids it was passed in. Rates were $1693 and the body corporate levy $17,941. The agent was Steve Roberts.
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5 Comments
I was at the B&T auctions this morning. 10 sold out of 19 lots which is a success rate of 53%
There are a lot of people talking BS about the Auckland property market. Anyone who wants to know the truth should have a look at the link below. The blue line clearly shows a sharp decline in the REINZ Auckland Price Index:
https://www.reinz.co.nz/Media/Default/Statistic%20Documents/Public%20HP…
...and BTW, the decline in Auckland property prices to date, is much steeper than the GFC ever was.
Good link Triple - the current AKL dip is clearly steeper than anything going back to '92. Would have been nice to see 89-92 in it as well which was a sad time for AKL RE.
If that dip continues south I think there will be a lot of people having trouble sleeping........If the crash in the dairy industry is replicated in AKL housing then it might be time to invest in metals (guns, tinned foods)
SpaceX. You're right, the market is going bananas.
But the market is the people (who buy and sell). So it's in fact the people who have gone bananas. It's difficult to cast a rational light on things when you've gone bananas...Auckland Auctions have been a bit like feeding time at the zoo...All the chimps going bananas for bananas!
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