Just under half sell under the hammer at Auckland apartment auctions

Things were fairly lively at this week's main Auckland apartment auctions, with plenty on offer and plenty of people bidding with just under half the units selling under the hammer.

At City Sales' auction, six apartments were on offer with a good mix of sizes and types meaning there was something for both investors and owner-occupiers. 

Five of the apartments attracted multiple bids with some of the bidding being quite lively and there was a single bidder for the sixth unit.

By the end of the auction two units had sold under the hammer and the others were passed in for sale by negotiation.

At Barfoot & Thompson's regular apartment auction two apartments were on offer, both of them larger units that could have appealed to owner-occupiers. They both had multiple bids and both sold under the hammer.

At Ray White City Apartments, six units were offered and five attracted multiple bids with two selling under the hammer.

One of the units that sold was a leasehold unit in the Lighter Quay complex at Viaduct Harbour, which had ground rent of $4255 a year with the next review due in August 2024.

However there was not so much interest in a large (138 square metre) two bedroom/two bathroom unit with two car parks in the Parc complex, also in the Viaduct precinct.

The Parc complex is also leasehold and the ground rent on the unit on offer was $11,890 a year with the next review due in January next year.

It attracted just a single bid before being passed in.

Details of the properties offered at all three auctions and the prices achieved on those that sold are available on our Residential Auction Results page.

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