In a sign that the top end of Auckland's housing market isn't slowing down, a six-bedroom house in the heart of Double Grammar Zone sold for $4.15 million at auction today.
Two families competed to secure 18 Entrican Avenue, Remuera, at the Barfoot and Thompson auction rooms this morning, with the hammer falling on sale price that was $650,000 above CV.
The property offered buyers a generous 868sqm section, a large Arts and Crafts house with a contemporary finish, three living areas and a heated pool outside.
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Barfoot and Thompson agent Alex Baker, who marketed the home, said: "It was a great auction - one of those ones that opened strongly and the bidding just kept going. The vendors and purchasers are both thrilled," he said.
Baker had 50 groups through the open homes, with most of the buyer enquiry coming from families looking for a long-term Double Grammar Zone house. The size of the property was also a real draw card, he said.
"It's a fantastic family home. The vendors have four children, who all loved growing up there, and the new owners have four children too, so it's a perfect match!"
Baker says the sale underscored the strength of the market in Remuera. "As this sale shows, the Remuera market is still strong, across all price ranges. There is particularly strong demand for family homes in the $2.5m to $4m range. And there remains a shortage of properties available. When you analyse what's available in various sectors, it's pretty thin. But there is strong demand."
While the top of the market nationwide has struggled to find its feet post-lockdown, with Queenstown-Lakes in particular under pressure, OneRoof figures show that many of Auckland's high-end suburbs have enjoyed increased market activity.
Of the 23 Auckland city suburbs with median values of $1.5 million or more, eight had seen property values return to or surpass their values on March 25 - the day before the country went into an eight-week lockdown that put the brakes on the housing market.
