A modest South Auckland home received 20 offers in five days from frustrated buyers who had missed out on other properties.
The 1960s three-bedroom house at 19 Brightwell Street, in Papakura, is being pitched at buyers who are sick of “missing out at auction”.
READ MORE: Find out if your suburb is rising or falling
Ray White Manurewa agent Wendy Peoples, who marketing the property for sale by negotiation, said she was surprised by the amount of offers she had received since the listing went live on January 14.
Start your property search
“I listed it on a Thursday afternoon and my phone rang all day with two unconditional offers coming in sight unseen the same evening,” she said.
On Friday 18 groups showed up for the open home with five more offers made, and a further 36 groups showing up on Saturday.
“It just went nuts,” Peoples said.
19 Brightwell Street, in Papakura, Auckland has attracted a lot of first home buyer and developer interest. Photo/ Supplied
Most properties in the Papakura area were sold under the hammer, Peoples said, but she wanted 19 Brightwell Street to stand out, so she listed it for sale by negotiation flagging that it was in affordable price bracket.
"If we listed by auction, we would have cut out about 80 percent of the competition for the property,” she said.
Out of 20 offers, only one was under the guide price of $769,000; the rest were well above but couldn’t be disclosed.
"We thought this property could be an opportunity for the frustrated first home buyers who have missed out or didn’t bid at the auctions,” she said.
Despite the property being marketed for the first home buyers, 19 Brightwell St has also proved to be popular with developers, who tend to have a bigger budget and are very competitive in the sub-$1 million price range.
The kitchen was modernised a few years ago. Photo/ Supplied
The house sits on a large freehold site zoned for mixed housing suburban, which is favoured by developers.
“It’s a 711sqm site – everyone wants it,” Peoples said.
The property, which has polished timber floors, a modernised kitchen, a separate laundry, a stand-alone two-car garage with a workshop space, last sold in 2018 for $580,000. Peoples said the vendors were surprised and overwhelmed by the amount of offers they received.
“It’s a lot of information for anyone to take in,” she added.
