There were fewer ethnic Chinese buyers but plenty of Chinese vendors at this week's Auckland apartment auctions, which were notable for the number of quick flicks coming to market.
The reduced presence of Chinese buyers in the auction rooms relative to this time last year has been particularly noticeable at recent apartment auctions, although they were well represented among vendors, with three of the four apartments auctioned by Barfoot & Thompson this week having Chinese vendors.
Another noticeable feature was the high number of quick flick apartments coming to auction, with half of those auctioned this week having been purchased since the beginning of last year.
Most sold at substantial premiums to their purchase prices although an apartment in the recently completed Station R building, which is adjacent to the railway tracks near Mt Eden station, failed to attract any bids.
See below for the full results of this week's apartment auctions at Barfoot & Thompson and Ray White City Apartments.
Barfoot & Thompson apartment auction results:
- 11A/205 Hobson St. Hobson Gardens building. A 163 square metre, three bedroom, north-west facing apartment with a large balcony. Vacant. There were multiple bidders but it was passed in at $952,500. According to QV.co.nz the unit had been purchased in 2009 for $415,000. The agents were Stephen Shin and Yasu Ka.
- 1210/207 Federal St. Federal building. Quick flick. A two bedroom corner unit with a car park. Vacant. Prior to the auction the auctioneer said he had received a pre-auction bid of $620,000 which had been accepted subject to a better bid being received at auction. But when he asked for further bids there was none and it was sold for the pre-auction price of $620,000. According to QV.co.nz the unit had been purchased in June last year for $541,000. The agents were Stephen Shin and Rhys Chen.
- 5E/77 Victoria St. Quick flick. A studio apartment across the road from Sky City. Vacant. Sold for $285,000. According to QV.co.nz the unit had been purchased in October last year for $259,000.The agents were Alex Allan and Rhys Chen.
- 206/11 Fenton St, Mt Eden. Station R building. Quick flick. A 77 square metre, two bedroom apartment with a car park in complex that was completed last year. Vacant. There were no bids on the property and it was passed in. According to QV.co.nz it had been purchased in May last year $695,500. The agents were Stephen Shin and Rhys Chen.
Ray White City Apartments auction results:
- 2B/220 Victoria St west. The Beaumont. A spacious one bedroom unit with a large balcony (total floor area including the balcony 90 square metres) and car park. Vacant.There were multiple bidders and it sold for $620,000. According to QV.co.nz it had been purchased for $445,000 in February 2013. Rates were $1627 and the body corporate levy $6354. The agents were Damian Piggin and Daniel Horrobin.
- 24/22 Normanby Rd, Mt Eden. Normanby Mews. A 114 square metre, three bedroom unit with a tandem car park in a building currently having remedial work completed.. Vacant. There were multiple bidders but it was passed in at $667,500. The agent was Krister Samuel.
- G2/47 Hobson St. H47 building. Quick flick. A 69 square metre, two bedroom, ground floor unit with its own 40 square metre courtyard and a car park. There were multiple bidders and it sold for $669,000. According to QV.co.nz the unit had been purchased for $610,000 in August last year. Rates were $1631 and the body corporate levy $5290. The agent was Eden Thompson.
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