Bidders were packing auction rooms and spilling into hallways at auctions in South and Central Auckland this week.
“We were blown away, we fully did not expect this,” says Tom Rawson, premier business owner of Ray White Manukau.
The top sale in his neck of the woodsd was for a luxury country estate at 10 Aunceton Rise, Alfriston, which went for $3.1 million, over $1 million above its CV of $2 million. The house of nearly 400 sq m sits on a 5000 sq m site which is zoned future urban.
“We’d expected at most 80 people for the 11 auctions, and there were 200 people and 119 registered bidders," says Rawson.
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“Ten properties sold for an average of 25 percent above CV, only one did not sell but there were multi-offers on it straight after.”
Rawson says that the auction business for his three offices in Manukau, Manurewa and Mangere Bridge is already about three times as much as it was last year.
The Ray White Manukau auction rooms were packed to the rafters when over 200 people crammed in, 119 of them registered bidders for 11 properties at auction. Photo / Supplied
“July last year we did five auctions, August we did seven. This July we did 26 auctions and already have 27 booked for August.
“We’re saying to clients get in before the election because you don’t know what will happen.”
10 Aunceton Rise, Alfriston, which went for $3.1 million, over $1 million above its CV. Photo / Supplied
A property with multi-unit development potential on a 756 sq m site at 15A Browns Road Manurewa attracted 35 registered bidders who drove the price to $839,000, well past both the CV of $570,000 and the reserve of $650,000. At another at 192 Buckland Rd, Mangere, a pair of units on 658 sq m of land with mixed housing suburban zoning, 22 bidders meant the eventual price of $898,000 was nearly $100,000 above the appraised price and $278,000 over CV.
35 registered bidders drove the price of a development property at 15A Browns Road to $839,000, well past the CV of $570,000. Photo / supplied
“But we had first home buyers, and investors looking for good rental property. We had a place in Massey that had home and income go for $900,000. It rents for $880 a week, which is a good 5 percent return for Auckland.”
It was the same last night in Ray White’s central Auckland Royal Oak rooms where a whopping 31 registered buyers battled it out for just three properties at auction. The three sold for a combined $3.98 million, including one at 2 Ravens Avenue, Hillsborough, that went for $1,630,000, $400,000 over CV.
“The in-room auction was packed to the rafters and the whole evening was nothing short of pure theatre as a hat-trick of outstanding results were achieved for our vendors,” said Ray White lead auctioneer John Bowring.
“The property market is showing absolutely no signs at all of slowing down – momentum is a powerful thing and there’s no doubt things are going from strength to strength.
“Anyone thinking of bringing their property to the market should take a look at the results last night and they should ask themselves, what are you waiting for?”
A deceased estate at 2 Ravens Avenue, Hillsborough on 813 sq m in a mixed housing suburban zone sold for $1,630,000, $400,000 over CV. Photo / supplied
Agents Martin Honey and Ben Bibby had shown 48 groups through the Hillsborough three-bedroom house, and had 14 registered bidders.
“With the competition we create and the buyer pool we have available, there’s never been a better time to sell. Today, we now have 28 cash-ready buyers to add to the hundreds on our database actively looking to purchase their next property,” said Bibby and Honey.
In Highbrook, east Auckland, yesterday at the Barfoot & Thompson auction 11 out of 15 lots sold, although all 11 lots were passed in at a further auction in South Auckland.
A bungalow at 4 Grange Rd, Mt Eden in double grammar zone sold for $3.26 million at Barfoot & Thompson's city auction rooms. Photo / supplied
Today’s auctions in the city saw three lots out of nine sell in the morning auctions, and another six out of seven in the afternoon. Top price was for a gracious four-bedroom bungalow at 4 Grange Road, Mt Eden in the coveted double grammar zone that went for $3.26 million. It last sold in November 2016 for $2.46 million, OneRoof records show.
A renovated villa at 56 Rose Road, Grey Lynn achieved $2.356 million, well above its CV of $1.9 million. Earlier, a bay fronted villa at 1 Lee Street Parnell, on the market for the first time in 40 years got $2.372 million – comfortably above its CV $2.125 million despite being a candidate for an extensive renovation.
