Prices at Bayleys' latest Auckland auctions ranged from $348,000 for a one bedroom apartment at Albany (pictured) to $1.595 million for a partially renovated cottage in Devonport.
The Albany unit was part of The Grange complex which has recently been reclad and issued with a new Code Compliance Certificate.
It was the only property to sell for less than $500,000.
The next cheapest sale was a two bedroom bach in need of renovation at Kawakawa Bay which sold for $537,000.
At Bayleys' Hamilton auction room a house on a 5344 square metre section at Cambridge sold for $710,000.
See below for the latest results from Bayleys' auction rooms, with details and photos of all properties, including those that didn't sell:
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9 Comments
where there is no will , there is no solution. new zealand on sale to whole world, the overseas billionaires are buying uninterrupted, and our children will be renters , as no other country sells its land except nz
as nz dollar falls , overseas buyer by virtue have more buying power. since dollar is falling , property for overseas buyers in still on same price in their currency , therefore ?????????
According to Wikipedia Niue is a self-governing state in free association with New Zealand.>
With only a thousand people living there and a land area of just 260 km2 they are wise to not allow foreign ownership.
That said it does seem like the Anglophone countries and Europe have taken it upon themselves to be the stewards of humanity. We are showing everyone the way forward with our tolerance, political correctness (politeness?) and sharing. Fingers crossed it all works out.
By far and away the biggest "landlords" in the country are the banks. They collect "rent" (mortgage interest payments) from the "investors" (risk holders). The "rent" (mortgage interest payments) is subsidized by the "government" (taxpayers) in the form of housing subsidies and other support payments resulting in "investors" (risk holders) bidding up house prices beyond what could be sustained in an unsubsidised market.
As if this wasn't mad enough the government helps the ponzi along by structuring the taxation system to encourage "investors" to take on more risk and structures the immigration policy to ensure the demand side overwhelms the supply side. The banks love it.
In an Orwellian twist the government blames everyone else for the "problem" (policy directed outcome).
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