A four-bedroom home has broken the sales record for Stonefields for this year.
The former Auckland quarry that was turned into a master-planned community more than decade ago has been one New Zealand's most popular places to live, with homeowners there enjoying some of the biggest resale profits in the country.
But 10 Stonemason Avenue has raced ahead of other sales in the suburb's 13-year history.
The 266sqm house sold for $2.055 million under the hammer - $380,000 above the 2017 rating valuation, and more that $200,000 above the previous record for this year.
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It is the third Stonefields home to break the $2 million barrier. A four-bedroom house on nearby Barbarich Drive, sold in August 2016, at the last market peak, for $2.005 million, but another four-bedroom home at Papango Street sold one month before that for the all-time Stonefields record of $2.25 million.
Ray White agents Ken Choong and Peter Burgham, who marketed 10 Stonemason Avenue, said the final result was stunning.
There were just bidders at the auction but they both fought hard to secure the home.
“They were competing quite fiercely and they both knew there isn’t much out there at the moment,” Choong said.
The buyers were won over by the top-notch condition of the house. Photo / Supplied
The winning bid was from a local family who were looking to upsize and had been on the hunt for a house in the area for some time, he said.
The family were won over by the condition of the 11-year-old house and the fact it was close to a park and in zone for Stonefields Primary.
“In their words they felt pure relief to buy something in a market like this one,” Choong said.
The house last changed hands in 2009 for $785,000, handing the vendors a profit, on paper at least, of $1.27 million.
Stonefields homes enjoy some of the highest resale profits in the country. Photo / Fiona Goodall
OneRoof figures show property values in Stonefields have risen rapidly since houses there first came on stream. The masterplanned community is now a mix of standalone homes, terrace houses and units, and in the last five years the median property value has risen 13 percent to $1.355 million.
Sale prices in the suburb this year ranged from $500,000 for an apartment to just under $2 million for a standalone home.
James Wilson, director of valuation at OneRoof’s data partner Valocity, said homes in Stonefields had strong resale value. "The median difference in sale value over the last six years for Stonefields was $296,500.
"Some people who held their property at Stonefields for the relatively short time period of three to seven years made profits of between $300,000 and $400,000 when they sold."
