There was spirited bidding on most of the apartments at the latest Ray White Auckland auction

There was spirited bidding on most of the apartments at the latest Ray White Auckland auction
This apartment in The Beresford building sold for $480,000.

It was a warm, humid day for Ray White City Apartments' latest auction but there was nothing languid about the bidding.

With 14 apartments on offer there was plenty to choose from and most apartments attracted multiple bids some of which was very spirited.

By the end of the auction 12 had sold under the hammer and just two were left for sale by negotiation.

See below for the full results:

  • 14B/1 Emily Place. Tower Hill building. An 83 square metre, two bedroom apartment with harbour views, a car park and storage locker.Vacant. Sold for $815,000. The agent was Adele Keane.
  •  509/9-17 Byron Ave, Takapuna. Spencer in Byron building. A 30 square metre studio leased to the hotel, in a building with weathertightness issues. Sold for $145,500 plus GST if any. The agents were Gillian Gibson and James Mairs.
  • 6F/22 Beresford Square. The Beresford building. A 65 square metre, One bedroom unit with large balcony. Vacant. Sold for $480,000. The agents were Donald Gibbs and Liam Kyle.
  • 2D/62 Queen St. Portland Towers. A 70 square metre, two bedroom/two bathroom unit with balcony . Rented at $450 a week. Sold for $568,000. The agent was Dominic Worthington.
  • 102/47 Hobson St. H47 building. A 69 square metre, two bedroom unit with balcony and a car park. The purchaser will be required to pay the unit's share of a special body corporate levy, which has yet to be determined. Rented at $520 a week. Sold for $618,500. The agents were Damian Piggin and Daniel Horrobin.
  • 6G/14 Upper Queen St. Uptown Apartments. A 50 square metre, one bedroom furnished apartment with a car park. Vacant. Sold for $420,000. The agent was Keisha Guiterrez.
  • 4M/435 New North Rd, Kingsland. The Kingsland building. A 65 square metre, two bedroom unit with two (tandem) car parks. Vacant. Sold for  $651,000. The agent was Krister Samuel. 
  • 5D/18 Wakefield St. The Wakefield building. A 90 square metre, two bedroom unit with balcony and double car park. Vacant. Passed in at $775,000. The agent was Adele Keane.
  • 1608/19 Anzac Ave. The Celestion building. A 60 square metre, two bedroom, fully furnished unit with double balconies. Vacant. Sold for $476,000. The agent was Dominic Worthington.
  • 1707/9-17 Byron Ave, Takapuna. Spencer on Byron building. A 49 square metre, fully furnished one bedroom unit, under hotel lease. Sold for $280,000 plus GST if any. The agents were Gillian Gibson and James Mairs.
  • 2D/16 Market Place. CBD. Vibe on Viaduct building. A 97 square metre, two bedroom/two bathroom unit with a balcony, car park and storage locker. Vacant. Leasehold, with body corporate levy of $16,971. Sold for $475,000. The agent was Ann Bennett.
  • 901/11 Liverpool St. City Zone building. A 45 square metre, two bedroom unit. Vacant. There was an opening bid of $200,000 and when there were no further bids the auctioneer made a vendor bid of $300,000 and when there were no bids after that it was passed in.  The agent was Krister Samuel.
  •  6F/99 Anzac Ave. Focus on Anzac. A 60 square metre, two bedroom unit with harbour views. Vacant. There was only one bidder on the property and it sold under the hammer for $490,000. The agent was Dominic Worthington.
  • 43/3 Burton St, Grafton. Greenwich Park complex. A 90 square metre, two bedroom/two bathroom terraced house with two car parks and a courtyard, in a complex with weathertightness issues. Sold for $381,000. The agent was James Mairs.​

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12 Comments

http://www.zerohedge.com/news/2016-03-24/chinese-take-over-canadas-real-...

Chinese buy 1/3 of homes in Vancouver.

Same is happening here.

Also when is Interest.co.nz going to get rid of the failed flag contender?

Can you please stop attacking the Chinese day in day out...I'm sure we are all tired of it! Just stop stirring shit.

So you are advocating censorship? Instead of reporting what is going on?

12
up

DGZ - it's only the corrupt who are uncomfortable with the truth.

Corrupt or not just don't single out any particular race. The buyers might have Chinese sounding names but they could be from the USA or Devon. Please do not assume.

Dgz

The truth shall set you free..... As they say "sunlight is the best disinfectant"

Ironically I think SpaceX is Chinese/of Chinese descent.

These results are quite striking. It's a pity I am unable at this time to do my CV analysis but the ratio looks high and although it is a small sample it would appear the race is on again.

Regarding the Chinese I think it is okay to comment as the relatively sudden emergence of the Chinese buyer is an unprecedented phenomenon and must have an impact on the housing market. Almost over night there are over 100 million middle class Chinese on the world scene, more than the US has. The Chinese also have a modus operandi of emigrating and involving themselves in business in their new countries. Long ago a few hardy Chinese were forced to pay something like 20 years salary just to be able to stay in New Zealand so they are willing to go to extremes.

The good news is that they tend to be a positive influence so it could be worse. A number of cities in America which are nicely affluent as well as the safest to live in have a 60/40 European/Asian mix (Irvine, Sunnyvale, Bellevue). These cities over the last 30 years have increased their Asian percentage from about 10% to 40%. Someone wanting to make money in property would be wise to consider the impact this group has on things.

DGZ. Scared of losing commissions on those sales to chinese ?

Yeah yeah yeah, if you think you are very clever you are WRONG!!

901/11 Liverpool St. City Zone building - Quick Flick - Bought Jan 20 this year as per QV 335K. No bidders? Where are they now?

If you lived in a crap country heavy pollution, over populated, bad hygiene etc and you had a bit of coin wouldn't you look for somewhere better to live ie NZ. I know I would.