A second Sandringham house sells for $1.7 million as prices head sky high

Any thought that the record $1.71 million price achieved at auction last week for a house in the Auckland suburb of Sandringham was a fluke, were dispelled when another Sandringham house sold for almost as much this week.

This week's price setter was a four bedroom, two bathroom villa just up the road at 70 Paice Ave, which was sold at auction by Bayleys for $1.7 million.

It sat on a 708 square metre section and like the house that sold for $1.71 million last week, had been refurbished to a high standard.

Both sales were handled by the same agent, Damon Elia of Bayleys Mt Eden, who said the main difference between the two were that the house that sold last week was at the southern end of Sandringham on an elevated site with good views.

Although the house that sold this week did not have views, that was balanced by the fact it was at the northern end of the suburb, closer to the CBD and Mt Eden shops.

Elia said there were thwarted buyers from last week's sale who were keen to buy this week's offering and there was still unsatisfied demand for similar properties in the area.

He did not want to speculate on how high prices could go.

The house at 70 Paice Ave had a 2011 rating valuation of $630,000 which was increased to $970,000 when the new valuations were issued this week. 

The rear deck and backyard of the Sandringham house.

The main living area of the house (above).

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