The top end of Auckland property market is continuing to feel the heat, with a home in blue chip Remuera selling at auction for $4.525 million - $1.6 million above its 2017 rating valuation.
The four-bedroom renovated bungalow at 8 Ingram Road soared past expectations on the back of strong competition among bidders.
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Ray White Mt Eden agent Rachel Berry, who marketed the property with Matthew Phillips, said there were ten registered bidders vying to secure the home. “Bids moved from $3 million to $4 million in less than a minute,” she said.
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The 262sqm house sits on a 641sq m site zoned for mixed housing suburban. The vendors told OneRoof before the auction that they had finished renovating the house, refreshing the bedrooms, bathrooms library and media room.
Outside, they created more space in the back garden, relandscaped and updated the pool, added a deck outside the living area, and new garden edgings and plantings.
Berry had said the house really came into its own during the various stages of lockdown by providing flexible areas for working from home, with a work area beside the front door enabling separation from the rest of the house.
Ten registered bidders drove the price for 8 Ingram Road, Remuera well about estimates. Photo / Supplied
“And with its character features enhanced by the light, airy interior, it’s the stuff magazine stories are made of,” she said.
8 Ingram Road wasn't the only grand house to capture buyer attention. 443 Riddell Road, in nearby Glendowie, sold under the hammer for $3.725 million - $925,000 above its CV.
The five-bedroom house was marketed by Bayleys agents David Nightingale and Elisabeth Hampson.
Nightingale said there were two active bidders in the auction room, both of whom had viewed the property on multiple occasions. The eventual winner was a local, who said it suited their family's lifestyle needs.
“The house is architecturally light and bright with coastal views and a heated swimming pool makes it more favourable,” Nightingale said.
443 Riddell Road, in Glendowie, sold for $3.725 million. Photo / Supplied
He said CVs were irrelevant for houses like 443 Riddell Road.
"On a house with sea views, for nicely presented properties with a lifestyle feeling to them, a swimming pool and a big family lawn – a CV might not influence buyers’ judgement in any way.
“It’s more about what the property is worth comparing to other homes selling in the area right now.”
