Two neighbours who teamed up to sell their homes each walked away with a massive boost to their bank accounts, as the combined properties sold under the hammer for $2.916 million today.
The owners of 53 and 55 Patons Road, in Howick, Auckland, decided to list their properties together in order to boost their chances of securing a top price at auction.
The homes both sit on big, flat developer-friendly sections but share a long driveway. Together the properties offered buyers a 2173sqm site zoned Mixed Housing Suburban.
The two properties were marketed for sale by Barfoot and Thompson agents Brenda Wong and Jacky Ng and were snapped up by a developer who outbid four others in a very competitive auction.
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Ng told OneRoof that it was a "pretty clever" of both neighbours to work together as a team to get the top dollar for their homes.
53 Patons Road was listed first, coming to market just before Auckland went into an alert level three lockdown. A week later the owner of 55 Patons Road, who had been contemplating selling, joined the listing.
53 Patons Road last sold in November 2012 for $560,000 while 55 last sold for $480,000 in the same year, handing both owners a profit, on paper at least, of about $1 million.
Ng said: "If they sold individually I would not have expected anything more than $1.15 million, but selling together they got almost $1.5million each."
Neighbours joining forces to sell was becoming more prevalent, he said. "They understand that they’ll get a better result together, easily $100,000 more than they’d usually get.”
1 Sea Spray Drive sold for more than $1 million above CV. Photo / Supplied
Houses sitting on large sections have been fetching top prices at auction lately. A 1960s four-bedroom house that sits on a 794sqm corner site in nearby Bucklands Beach sold under the hammer today for $2.49 million - more than $1 million above CV.
Bidding for the property at 1 Sea Spray Drive, which was marketed by Bayleys sales agent Jenny Benoy as a development opportunity, started at $1.4 million and saw intense competition as buyers went up in $5000 bids at the end.
Last week a tired-looking villa on a large section in Mt Eden sold under the hammer for $4.855 million - more than $2 million above its 2017 CV.
The seven-bedroom house at 4 Stokes Road, was snapped up by a developer. Barfoot and Thompson auctioneer Murray Smith told OneRoof there were 71 bids made on the property, with 17 registered bidders all competing to secure the site.
