No pool equals no sale for buyers at the top end of the market in New Zealand’s wealthiest suburbs.
Agents have told OneRoof that upsizers on the hunt in Auckland’s Remuera and Orakei were willing to spend $10 million on a house, but it had to have a swimming pool or at least room for one.
READ MORE: Find out if your suburb is rising or falling
A four-bedroom luxury home that sold under the hammer this week for $6.45 million is a case in point.
Start your property search
6 Fenton Circus, in Orakei, has three living areas, a large veranda with outdoor fireplace and a swimming pool and spa.
The listing agent, Ray White Orakei owner John Campbell, said the property sold to a family who had moved from St Heliers to be closer to schools and the city.
Seventy groups had gone through the open homes. “We had upsizers and, would you believe it, downsizers, as well as people from the fringes of Auckland,” he said.
The house sold well above its 2017 council valuation of $5.6 million and its last sale price - $5.515 million in 2019.
6 Fenton Circus was designed by Sumich Architects. Photo/ Supplied
Campbell said: “When we talk to buyers about their wish-list, swimming pools are non-negotiable. Many people want to go to Fiji but can’t, so they want to bring Fiji to their home.”
He said there was "unprecedented amount” of buyers with budgets of $10 million, mainly local families looking to upgrade before selling their current house.
Ray White chief auctioneer John Bowring said that six registered bidders fought for the property.
"Bidding started at $5 million and very quickly went to $6 million, then two bidders went up in $50,000 lots to reach $6.45 million. That was a good price - we'd been expecting north of $6 million."
Bowring added that clearances at his 41 auctions across Remuera, Royal Oak, Onehunga and Mount Eden had been good this week, with properties selling for "big money" and attracting a lot of bidders.
25 Entrican Avenue, in Remuera, Auckland, sold under the hammer for $5.25 million. Photo / Supplied
In Remuera's double grammar zone, 80 groups of buyers with similar budgets checked out 25 Entrican Avenue. It sold under the hammer for $5.525 million on Wednesday at Barfoot and Thompson's auction.
The listing agent, Cici Wang said there were two registered bidders for the property and it took less than a minute to negotiate the sale price after one bid.
Wang said the buyer had been looking for a house for six months.
“A lot of families are looking as they are keen to upgrade their current properties to something in $4 million and $5 million mark,” she said.
