No dampening of buyer enthusiasm for Auckland CBD apartments

There were no pre-Budget nerves at the latest Ray White City Apartments auction, which took place just an hour before Finance Minister Bill English released this year's Budget at Parliament.

There were only two apartments on offer - one a two bedroom unit in the high quality Beaumont building opposite Victoria Park that was of a size and standard that would likely appeal to owner-occupiers.The other a studio that was part of the hotel pool at The Quadrant, that would undoubtedly be investor fodder - and there was competitive bidding on both, with both of them selling under the hammer in double quick time.

The folk at Impression Real Estate have also been busy selling mostly smaller apartments with floor areas under 50 square metres, and prices of their recent sales ranged from $175,000 to $432,000.

See below for the latest apartment sales results from both Ray White and Impression.

Sold at this week's Ray White City Apartments auction:

• 4H/220 Victoria St West. The Beaumont building. Freehold. A 112 square metre unit with two bedrooms, two bathrooms, two car parks and good sized balcony, located on the top floor of the Beaumont building overlooking Victoria Park. The apartment was owner-occupied but its rent was appraised at $850 a week. There were several keen bidders for this apartment and it sold under the hammer for $870,000. Rates were $1927 and the body corporate levy $8834. The agents were Damian Piggin and Daniel Horrobin. A sales history of the unit was not available.
• 1516/10 Waterloo Quadrant. The Quadrant building. A 22 square metre studio under management contract to the hotel, providing net rental income of $1135 a month , less any adjustments for repairs and maintenance. There were multiple bidders for the property and it sold under the hammer for $206,000. The agents were Damian Piggin and Mitch Agnew. According to QV.co.nz the unit was last sold for $184,000 in 2006.

Apartments recently sold by Impression Real Estate: 

• 1403/53 Cook Street. A 49 square metre, fully furnished, 2 bedroom,apartment. Vacant. Sold for $330,000. Rates $1120, BC levies $5221. It was last sold in  August  2008 for $341,000. The agents were Mark Barry and Ali Karambayev.
• 220/430 Queen Street. A 40 square metre, fully furnished, 2 bedroom unit, rented at $440pw. Sold for  $280,000. Rates $926, BC Levies $3867. Prior sales info not available. The agents were Mark Barry and Ali Karambayev.
• 8H/82 Wakefield Street. A 38 square metre, fully furnished, 1 bedroom unit, rented for $410pw. Sold for $286,000. Rates $878, BC Levies $5072. Last sold Nov 2001 for $156,000. The agents were Mark Barry and Ali Karambayev.
• 508/430 Queen street. A 40 square metre, fully furnished, 2 bedroom unit, rented at $480.00. Sold for $285,000. Rates were $959. Last sold in Jul 2004 for $250,000. The agents were Mark Barry and Ali Karambayev.
• 612/149 Nelson Street. A 30 square metre, unfurnished, 1 bedroom unit, rented at $280pw. Sold for $175,000. Rates were $766, BC Levies $1768. Last sold in Apr 2013 for $114,000. The agents were Mark Barry & Ali Karambayev.
• 816/1 Courthouse Lane. A 44 square metre, unfurnished, 1 bedroom unit. Rates $1072.24, BC levies $4146.14. Sold for $342,000. Sales history not available. The agents were Mark Barry & Ali Karambayev.

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