It was a warm, humid day for Ray White City Apartments' latest auction but there was nothing languid about the bidding.
With 14 apartments on offer there was plenty to choose from and most apartments attracted multiple bids some of which was very spirited.
By the end of the auction 12 had sold under the hammer and just two were left for sale by negotiation.
See below for the full results:
- 14B/1 Emily Place. Tower Hill building. An 83 square metre, two bedroom apartment with harbour views, a car park and storage locker.Vacant. Sold for $815,000. The agent was Adele Keane.
- 509/9-17 Byron Ave, Takapuna. Spencer in Byron building. A 30 square metre studio leased to the hotel, in a building with weathertightness issues. Sold for $145,500 plus GST if any. The agents were Gillian Gibson and James Mairs.
- 6F/22 Beresford Square. The Beresford building. A 65 square metre, One bedroom unit with large balcony. Vacant. Sold for $480,000. The agents were Donald Gibbs and Liam Kyle.
- 2D/62 Queen St. Portland Towers. A 70 square metre, two bedroom/two bathroom unit with balcony . Rented at $450 a week. Sold for $568,000. The agent was Dominic Worthington.
- 102/47 Hobson St. H47 building. A 69 square metre, two bedroom unit with balcony and a car park. The purchaser will be required to pay the unit's share of a special body corporate levy, which has yet to be determined. Rented at $520 a week. Sold for $618,500. The agents were Damian Piggin and Daniel Horrobin.
- 6G/14 Upper Queen St. Uptown Apartments. A 50 square metre, one bedroom furnished apartment with a car park. Vacant. Sold for $420,000. The agent was Keisha Guiterrez.
- 4M/435 New North Rd, Kingsland. The Kingsland building. A 65 square metre, two bedroom unit with two (tandem) car parks. Vacant. Sold for $651,000. The agent was Krister Samuel.
- 5D/18 Wakefield St. The Wakefield building. A 90 square metre, two bedroom unit with balcony and double car park. Vacant. Passed in at $775,000. The agent was Adele Keane.
- 1608/19 Anzac Ave. The Celestion building. A 60 square metre, two bedroom, fully furnished unit with double balconies. Vacant. Sold for $476,000. The agent was Dominic Worthington.
- 1707/9-17 Byron Ave, Takapuna. Spencer on Byron building. A 49 square metre, fully furnished one bedroom unit, under hotel lease. Sold for $280,000 plus GST if any. The agents were Gillian Gibson and James Mairs.
- 2D/16 Market Place. CBD. Vibe on Viaduct building. A 97 square metre, two bedroom/two bathroom unit with a balcony, car park and storage locker. Vacant. Leasehold, with body corporate levy of $16,971. Sold for $475,000. The agent was Ann Bennett.
- 901/11 Liverpool St. City Zone building. A 45 square metre, two bedroom unit. Vacant. There was an opening bid of $200,000 and when there were no further bids the auctioneer made a vendor bid of $300,000 and when there were no bids after that it was passed in. The agent was Krister Samuel.
- 6F/99 Anzac Ave. Focus on Anzac. A 60 square metre, two bedroom unit with harbour views. Vacant. There was only one bidder on the property and it sold under the hammer for $490,000. The agent was Dominic Worthington.
- 43/3 Burton St, Grafton. Greenwich Park complex. A 90 square metre, two bedroom/two bathroom terraced house with two car parks and a courtyard, in a complex with weathertightness issues. Sold for $381,000. The agent was James Mairs.
You can receive all of our property articles automatically by subscribing to our free email Property Newsletter. This will deliver all of our property-related articles, including auction results and interest rate updates, directly to your in-box 3-5 times a week. We don't share your details with third parties and you can unsubscribe at any time. To subscribe just click on this link, scroll down to "Property email newsletter"and enter your email address.
12 Comments
http://www.zerohedge.com/news/2016-03-24/chinese-take-over-canadas-real…-
Chinese buy 1/3 of homes in Vancouver.
Same is happening here.
Also when is Interest.co.nz going to get rid of the failed flag contender?
These results are quite striking. It's a pity I am unable at this time to do my CV analysis but the ratio looks high and although it is a small sample it would appear the race is on again.
Regarding the Chinese I think it is okay to comment as the relatively sudden emergence of the Chinese buyer is an unprecedented phenomenon and must have an impact on the housing market. Almost over night there are over 100 million middle class Chinese on the world scene, more than the US has. The Chinese also have a modus operandi of emigrating and involving themselves in business in their new countries. Long ago a few hardy Chinese were forced to pay something like 20 years salary just to be able to stay in New Zealand so they are willing to go to extremes.
The good news is that they tend to be a positive influence so it could be worse. A number of cities in America which are nicely affluent as well as the safest to live in have a 60/40 European/Asian mix (Irvine, Sunnyvale, Bellevue). These cities over the last 30 years have increased their Asian percentage from about 10% to 40%. Someone wanting to make money in property would be wise to consider the impact this group has on things.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.