Nearly two thirds of the Auckland apartments offered at this week's main apartment auctions were sold under the hammer.
At Ray White City Apartments' auction, seven properties were on offer and five were sold.
At Barfoot & Thompson's main apartment auction this week, six apartments were offered and three sold under the hammer.
At the Ray White auction sales were made at both ends of the price spectrum, with a modern terrace house in Grafton selling for $1.309 million and a studio unit in the Cambridge building on Anzac Ave in the CBD selling for $153,000.
At Barfoot's auction there was very competitive bidding from several potential buyers for two large apartments in the CBD, one of 96 square metres which sold for $670,000, and a penthouse apartment of 177 square metres which went for $1.316 million.
There was also very strong bidding for a 195 square metre commercial unit in Otahuhu that was offered at the same auction and sold for $700,000.
Of the three apartments that were passed in at Barfoot's auction, two received no bids.
The full results of both auctions with details of all properties offered and the prices achieved on those that sold, are available on our Auction Results page.
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53 Comments
Something is happening that is turning the tide. This article is definitely no fluke. The houses are selling fast with multiple-offers situation left, right and centre.
4 Burwood Crescent just sold today for $2m+ over the CV!!
http://remuerarealestateregister.co.nz/catalog/product/1184
CV $2,300,000
Sold $4,380,000 (90% over the CV)
Crazy for that.
Thats nuts, thats £2 million pounds. Soon a lot of migrants will be moving home. We will be to expensive for everyone. Which may slow immigration down. I would rather spend money on lifestyle block build nice house and pool, buy apartment. Send kids to private school, or get tutors. It just makes the divide bigger in that area. Cool if you like that sort of stuff, and into hob knobbing and patting each other on the back, but I like good genuine people around me.
Friends live in Runciman road and kids go to St Kents as day students, he loves the country lifestyle.
I have to say this sale today is a little overcooked. I actually think it should go for around $3m...but who am I to say, the market is all about supply and demand. As I understand it, the vendor has received multiple offers for the property and sold it before the set sale date of Wednesday 12 April. This is what is happening out there in my neck of woods.
Homes.co.nz was pretty accurate again with the sale being between the mid point and the high figure. The property actually went up in value almost $8,500 a week since it last sold two years ago. I went to three open homes last weekend with two of them being reasonably busy and the third hard to say as I arrived just as it was closing.
So much profits made and now safely in the pocket :-)
I went to see 11 Croydon Rd in Mt Eden last weekend as I was attracted by the chocolate box photos in the advert. OMG it was like a market there...the place was buzzing and I was pretty much stunned from what I've witnessed! https://www.barfoot.co.nz/593759
Actually I've re-thought, what I would do with 4 mill. Go to the coromandel by a cheap bit of land, build something thats eco and smallish, buy a ute, surf board and kite board. Get myself a cruisey little job or run a business to help keep me busy. And go surfing and live life. Burn the suit.
Ive worked for quite a few years in the corporate life, my priorities have changed and its certainly not buying a small house for millions in an overheated market.
Ha ha thats a funny question? Not if I spend money on BMWs, taps that cost $200 and $5 lattes, and go for trips around Europe.
But yes is the short answer. So many people in this world live on way less. Its about whats important to you. I joined an incubator for start-ups, you've got to assess whats important to you and what do you truely want. I found in my life I want freedom, to spend time with my kids, and to live life, the way I like to live it. Which is surfing and fishing, do stuff in NZ for which NZ is great.. The rest is just stuff. I always wanted to money, but now I dont. Money to get freedom yes, money to make sure kids are fed yes. But not money for stuff.
Also, there are many smart people on here who could point you in the right direction but if you got 5% annually on 3million, thats $150K. A cruisey job at $30K, which gives you $180K. More then enough to pay for the gas to get you to your surfing spots.
A mill for your house. Plenty.
I know there are quite a few RE's who comment on this site, including yourselves and Zachary which most people are aware that your the same person, who is and RE. We've proved it over and over again.
It's just really, really SAD. But I guess you have to try to drum up trade some how. Drop your commission rates mate and perhaps you may seem some real sales volumes. Try to be less greedy!!
You're in IT right? I'm sure you know we can tell your location from your IP address. Surely the mods can confirm that ZS and DGZ are commenting from the same location.
Heck I'll even make it easy for the mods to test this by confirming that I'm commenting right now from Newmarket. Yes, I actually do live in the double grammar zone, my son goes to a primary school in Remuera and I know that people in my "neck of woods"* are nice people, not like Double-GZ. That's how I know he doesn't live here and is only an RE because if you actually live in Remuera, you wouldn't be as nasty as him.
*Pro tip: the correct way to say it is "neck of the woods"
RichMuhlach, If the administrators checked my current IP address they would see it is in Sweden because I am using the Tor browser. Just thought I would try it and see if commenting works in Tor. Of course another simple way is for one user to use the home broadband and another to use a 3G connection. There are also a number of VPN services that could be used. IT guys probably have a number of other ways as well. Of course we don't need to do any of that because we are different people. In fact when I was exiled for a month I told David C I would not create another account under a different name and email address and would honour the rules. I actually believe in being as honest as possible and abiding by the host's rules.
I am in the heart of Remuera and yes we are neighbours. I am sorry if you think I am nasty as I have no intention to be nasty to anyone, in fact all my work colleagues think I am too nice and too soft but it wouldn't matter in IT as all my customers are internal. I am a little naughty from time to time but maybe because I am a late Gen-Y. Have you heard of naughty thirties? Perhaps I will change soon as I am stepping into my 40 very very soon ;-)
Eh?!?!?!? Where did I say that I checked his IP address?
ZS said we couldn't prove anything, I suggested mods can easily prove it by checking their IP addresses. That's a direct response to an assertion he had, no where did I disagree with any of the ramblings in their previous comments.
Perhaps YOU'RE holding on too tight, posting your comment twice to make sure you get noticed
Yeah laugh it up boy your market is drying up and we all know it:-
China's Banks Are Still in Trouble
https://www.bloomberg.com/view/articles/2017-04-06/china-s-banks-are-st…
Yawn. Has anyone checked the development potential of said propertys? Wouldnt be supprised if those with spare cash are picking up soon to be intensified land, especially if they own a neighbour or two, just like monopoly.
End of the day unless the Govt is going to act to slow speculation this stupidity will continue. Hope those that care get of arse and vote for change, and ignore the trolls and their comments.
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