The Auckland apartment auction rooms were a bit livelier this week after a couple of quiet weeks on either side of Easter.
At Ray White City Apartments' regular auction, six apartments were scheduled for auction but one was withdrawn from sale prior to the event. Of the remaining five, four were sold under the hammer and all of the apartments that sold attracted multiple bids.
Sales included a leasehold one bedroom unit in The Docks building just off Quay St, which went for $148,000.
At Barfoot & Thompson's main auction, two of the three apartments on offer were sold under the hammer, but there was only one bidder for a leasehold unit with a car park and it was passed in.
A three bedroom house in Ellerslie, on which the owners had accepted a pre-auction bid of $1,010,000 subject to a better bid being received at auction, was also offered, but no further bids were received and it was sold at its pre-auction offer price.
At City Sales auction this week just one apartment was offered and it was passed in.
The results from all three auctions, with the prices achieved on individual properties that sold and details of all properties including those that didn't sell, are available on our Auction Results page.
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16 Comments
Thanks good point, did you write this after you got off the phone to Double-GZ? I've been looking at the listing volumes and have also seen the overall Auckland listings teeter just below the 11,000. There's a lot of places just not selling from what I am seeing and a few properties I know the tenants and the desperation and frustration of those landlords.
Am surprised that Auckland apartments are as popular as they are. For me, it has to be a stand-alone house with a fee simple title. (Not interested in cross-lease.)
I suppose apartments serve as a cheaper port-of-entry to the property market for many people. Plus, they're usually secure and you don't have to maintain garden/lawns etc. But, personally, I don't have the stomach for body corporates, noisy neighbours (and plumbing) and so forth. And I like to let the dog out into the backyard for a run.
But each person to their own.
Apartments aren't for me but maybe it means looking at the big picture.
In major cities that is the norm. Inside the central line in London you don't get a house for less than $5m. In Singapore, HK etc you only live in apartments in the City Centre.
Auckland is a small city. It has poor transport. IF it grows into a 3m population city in next 20 years then buying "boxes" in town might not be so barking mad.
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