Auction results: Auckland property sells for $5.86m. Buyers active at Harcourts' auctions in Auckland, Waikato, Taupo, Manawatu, Wellington and Christchurch

Auction results: Auckland property sells for $5.86m. Buyers active at Harcourts' auctions in Auckland, Waikato, Taupo, Manawatu, Wellington and Christchurch
This house at Whitikahu in the Waikato sold for $436,000.

Harcourts had an exceptional week at their Hamilton auctions last week, with 14 properties put up for sale and 12 of them finding new owners.

Prices ranged from $436,000 for a house at Whitikahu (about half way between Taupiri and Morrinsville) to $1.28 million for a Cambridge property.

Just up the road in Auckland the cheapest property sold was a home unit in Manurewa that went for $520,000. The most expensive was a Karaka property that fetched $5.86 million.

The results of Harcourts' latest auctions in Auckland, Hamilton, Taupo, Wellington, Palmerston North and Christchurch, with the selling prices of the properties that sold and photos and details of all properties, including those that didn't sell, can be viewed on our Auction/Sales Results page, along with auction results from Barfoot & Thompson and Bayleys (tip: use the search fields near the top of the Auction/Sales Results page to search for auction results by location and/or by agency).

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[Caps removed. That's shouting and uncivil. Ed.]
Like rates to a corpse Auckland investors the new slum lords.

Interesting.
25 Auckland sales and where half failed to sell
The trend continues.
At this rate it will only be a matter of time before we have the Great Deflation across the whole economy
Interest rates will end up in double negative territory.

I cannot believe this or any other Agency would even bother to advertise any of them.

This is a booming market, why sell...??

Buy.

Do Real Estate Agecies not know their subjects, their trade?.

Buildings only go up, Interest rates only go down, plus is tax deductible and the Banks would dearly love to deal with just one broker. A preferential deal could be given.

All real estate agents should follow this trend, should just buy them and rent them out, putting them back on the market, whilst doing so., Charge a negative rent as Capital Gain will take care of any shortfall.
If a buyer, does not come along, simply buy them again, for themselves. The Interest rates will have gone down again by then. The rents will have paid for the loans, as would be guaranteed by the taxpayers.

Thus the fair market rent surely would pay for all the costs incurred and as no fees actually change hands, no tax is derived from said purchase, hence the "Investment" is iron clad as inflation adjusted.

Rinse and repeat, no advertising costs, no Real Estate Agents required, no silly 'Open Homes' for thieves to wander through and ogle up the potential. No catch phrases to learn, no advertising costs, just pure profit.

Why take houses on to an open market, when you can lock it up into a single market as an investment.

Nothing can go wrong with this idea.

As pointed out, the Interest Rates would be negative, in just a few weeks, so Bingo, cannot lose.

This is a well tried format, I have had a lot of success with this and even have been encouraged to spread the spread wider, so we can all benefit from future rises.

Please send the one off Consultancy Fee of $9.999,999.00 to
Mr Bingo.
HouseyHousey@googlethistrend.co.nz (our local office).

See not even a stamp duty to pay...for the Bill.

My partner in business advice is a well known key figure. So nothing can go wrong, with this thoughtfully noted advice.

Please respond to this advice quickly to the above email address, but address it to Miss Ponzi instead as I will be taking a short holiday at her Majesty's Pleasure as I need a short rest to recuperate after a very healthy, but wearing run of business.

PS... please set your email to accept either advisor, for any future business advice we can aid you with, we do not want our names to go into the Spam Section.
How else could we communicate as I usually reside in Nigeria, but got caught short on a short trip to Nui Zzealand. I am normally free to give aid at anytime after the first fee is Banked. A reduction in charges can be negotiated, once a first flipping chance is given, as you will surely appreciate.

Not Friday. But I do have other days to assist with Clowning Around.

Cool new TradeMe tool. Find out how much your house is worth for free:

Property Insights

Actually not that cool. I checked my own property and the data is for 2014 ! Try homes.co.nz, at least they use reference pricing from current transactions for a current estimate. I sold a Waiheke property recently and the homes.co.nz 'value' came in within $2K of what was actually achieved - and a lot higher than what I thought would happen. So I was impressed. The Property Insights attempt still isn't anywhere near close, even today. Hard to be impressed. Both services are free.

Thanks for the advice, I'll check it out.
Update: Fairly similar for my properties but yes I would say homes.co.nz is the more accurate. I wonder if they just use RV and calculate from that. At very least it is a quick and easy way to get the RV.

We have multiple properties on the Kapiti Coast, 200sqm brick and tile houses approx 8 years old. At auction last 2 to sell both sold for exactly 600 K, including one house in same street as we have two in. Homes.co.nz estmates value of two in street with direct comparable that sold for 600K (the sold property was 10sqm smaller with poorer aspect end of cul de sac on southern base of a small hill ie minimal sunlight), at 520+ 520K, trademe 560 + 570K. Trademe insights approx 5% below market value, homes.co.nz would be 15% off. Appears trademe insights algorithm more quickly reflects changes in market pricing, whereas as homes.co.nz lags. Out of interest for Aucklanders 600K buys a modern 200sqm brick and tile house on a 700 sqm section in a decile 8/9 school zone, in an area with minimal crime (up until 24mths previously standard price was 450K, this was the price since 2009, 2007 peak probably 475K).

I checked my street and the block of seven properties in my patch vary to the tune of 40% from 600k to 1 million. not sure why, the two high priced ones have been brought and sold as investment properties so may have been revalued, the other two same 900 sm sections with no houses on the back have the same value as the houses that are now two on the section.
because of the land and zone (intensive building allowed) they would come in at a price closer to the higher priced ones if put on the market at the moment so my conclusion is it does not reflect reality when you compare to what has sold close by for what price in my street