Bayleys auction rooms in Auckland and Hamilton were busy over the last week and the most expensive home sold in Auckland was a two bedroom apartment in the White Heron complex (pictured) that went for $3.278 million, while the cheapest was a two bedroom home unit at Northcote Point that fetched $525,000.
In Hamilton a range of rural and town properties were offered that fetched prices starting at $297,000 for a two bedroom house with most homes selling for under $500,000,
In Havelock North a spacious house on one of the town's best streets sold for $500,000.
See below for the full results of Bayleys' auctions last week, with photos and details of all properties, including those that didn't sell.
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15 Comments
A real estate agent helping two pensioners sell their home has been sacked after buying the property for $530,000 and selling it less than four months later for $1.255 million - a profit of $725,000. Read more
I suppose the RBNZ sees this type of outcome contributing to financial stability, hence another round of OCR cuts will be ordered by the finance minister. Onward and upward.
One really cannot afford to work for wages depreciating in value at such an acute rate.
You turned a blind eye to the magnitude of the profit over such a short time frame - the crime, if one is proved in law, is just symptomatic of the frenzy enveloping the financialised residential property sector. I believe you have also gained from such endeavour, using other people's money.
a he wont instead he will get slapped with a wet bus ticket.
its time the law was changed so if a RE agent wants to buy a property it has to be publicly notified, that way at least it gives others a chance, too much of this insider house trading going on
http://m.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11625…
All vendors / sellers should do due diligence on verifying the true value of their property. - never put your entire trust in any agent, broker, salesman of any description.
A $500 commercial valuation would have been money well spent.
Always ask 3 agents from 3 different firms to do an appraisal.
Consider a multi- agent listing - why put all your eggs in one basket - let them compete, don't listen to the nonsense of 'we will advertise more on your exclusive'.
Look at your CV - add 25% at least.
I actually went to see the St Stephens Ave garden apartment with two of my cousins as they are downsizing from their family home and are currently looking for a 2-bedroom apartment close to the city and the Bays. It is a medium-size apartment around 100-120m2, open plan living with sea and garden views tucked away at the end of St Stephens Ave (not far from the PM's home) facing the Hauraki Gulf.
The agent (Fleur) indicated to us that it was likely to go past $2m and that was when my cousins decided it was over-cooked for a small apartment. Their budget is just below the $2m mark. We would never have guessed and imagined that it would sell for close to $3.3m. The sold price is well and truly blown out of proportion...it is actually scary.
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