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At Bayleys' latest auctions only three Auckland homes sold for under $600,000; two of those were apartments but a three bedroom house on a reasonable section went for $485,000

Property
At Bayleys' latest auctions only three Auckland homes sold for under $600,000; two of those were apartments but a three bedroom house on a reasonable section went for $485,000

The cheapest property sold at Bayleys' Auckland auctions last week was a one bedroom apartment with a car park in an apartment building that requires extensive remediation work.

Although the building was located on Scotia Place, which runs off the top end of Queen St, giving the apartment excellent views over Myers Park, the likely cost of repairs meant it sold for $165,000, compared to its July 2014 council rating valuation of $225,000.

The cheapest freestanding Auckland house sold at Bayleys' auctions last week was a three bedroom house with a carport on a flat, fully fenced section (pictured) at Randwick Park near Takanini in south Auckland, which sold for $485,000.

The two sales above, and another apartment in the CBD which went for $485,000, were the only Auckland homes at Bayleys' auctions last week to sell for less than $600,000.

Down the line at Bayleys' Hamilton auctions, the cheapest property sold was a large, renovated bungalow on more than one hectare of land at Cambridge that went for $755,000 and the most expensive was a four bedroom house with swimming pool on a small lifestyle block that went for $866,000.

You can see all the results from Bayleys Auckland and Waikato auctions last week, with photos of all properties auctioned including those that didn't sell,on our Auction/Sales Results page.

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3 Comments

I see homes.co.nz has the Randwick Park house lowest estimate at 480K and it sold for 485K. Spot checked a few others that sold and the estimates seem reasonably accurate.

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Im not so sure, a house that was valued on homes.co.nz at 1.12 sold for 1.22, quite a few cases were out by 100k

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Generally the gap between high and low estimates is more than 100K so I am not surprised. The tool is not over estimating values at this stage.

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