The cheapest Auckland home sold at auction by Harcourts last week was a newly redecorated, three bedroom house with a single garage (pictured) at Takanini in south Auckland that went for $519,000.
It was one of only three Auckland homes that sold for less than $600,000 at Harcourts' auctions last week, with two of them being in Takanini and one in Papatoetoe.
The most expensive auction sale at Harcourts' Auckland auctions was a house in Epsom that sold for $3.25 million, one of six Auckland homes that was sold at auction for more than $2 million by Harcourts' last week.
Harcourts also auctioned a substantial number of homes in Hamilton, where prices ranged from $413,000 for a house at Frankton to $1.2 million for a house at Matangi.
At Harcourts Christchurch auctions prices ranged from $281,000 for a Hornby property to $1.772 million for a house at Fendalton.
Full details of Harcourts latest auction results, with photos of all properties including those that didn't sell, are available on our Auction/Sales Results page. To access the page click on the Property tab just under the banner near the top of this page and select "Auction/Sales Results" from the drop down menu, or simply click on this link. The Auction/Sales Results page allows you to search for auctioned properties by location and/or by agency.
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15 Comments
5/7 sold at auction in Palmy. 6 months ago nothing was being auctioned there. Now just no houses and massive demand fuelled by kiwisaver as well as investors getting solid 6% plus and borrowing under 4%. Very nice spread for a city growing as fast as welly (18% v 20% in welly predicted population growth to 2043)
Frazz, owning your own home is for retirement.
If you don't own a home by retirement age then I doubt very much that you will be able to retire.
That is unless you have mega savings or shares to support you for many years.
Owning property Is the best investment you can make providing it is positively geared or your own home.
And you know what will happen in years to come, don't you? People who cannabalised part of kiwisaver for a house purchase will reach retirement, barely having paid it off, even if they have. They will have less of a retirement fund and require govt assistance before someone who did not do the same. Means testing will apply to state pensions and the house will have to be sold to qualify. Yes, it really is a good idea to open kiwisaver up to this, NOT. Other solutions were necessary, like kicking foreigners out of the housing market so prices could better reflect what could be paid with NZ incomes, as they should be!
Could not have put the current situation better. Opening up Kiwisaver to keep the Ponzip going for Boomers and overseas investors is nuts. Great story today about young couple not falling into the debt trap.
http://m.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11700120
Interested to know your logic for saying property is the best investment you can make? Bold claim, and you seem to be ignoring the benefits of diversification. Surely the real goal is to get to retirement with property, savings and shares? You can't eat the house around you and need something more to live on.
Kiwisaver is to overcome the deficit in the human brain that means 80% of people spend every cent they earn.
Home ownership plays the same role as its a form of forced savings - a average 30 year term mortgage means you're forced to pay off the house in 30 years as opposed to what 80% of renters would do which is continue to spend everything they earn. Inevitabilty thinking. The way to control the mammal brain within.
My partner and I earn slightly too much but we're really pissed off about the subsidy thing. Unfortunately a bunch of stupid financially illiterate kiwis probably think it's a gift from the gods or something. It pushes the whole market up and creates these awkwardly spec'd $xx9,999.99 houses which are really poor value for money. That and the building companies hoarding all the new sections.
FANTASTIC VIDEO ON VANCOUVER.... hilarious the real estate agents don't like it .. what a surprise.. lol
http://www.newshub.co.nz/tvshows/story/could-nz-copy-vancouvers-new-for…
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