A five-bedroom home in West Auckland sold at auction this week for $1.3 million, giving its sellers a gain of $364,000 in just over a year.
Barfoot & Thompson agent Coco Wang, who marketed the property with Wayne Guo, told OneRoof that apart from tidying the garden, the vendors had not made any changes to the well-presented house at Allington Road, Massey, since they bought it for $936,000 in June last year just after lockdown.
Sixteen bidders competed online for the house, with three or four bidders still bidding when the house passed its $1.2m reserve, Wang said.
“It’s on a 614sqm section zone for mixed housing suburban, and has a three-bedroom home with a two-bedroom granny flat downstairs, but most people were looking for a family home, it wasn’t developers or investors.
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“We’d only managed to do two weekends of open homes, and had 20 groups through. It was quite popular because it had a big section, there are a lot of new homes in Massey on smaller sections.”
The house with a granny flat on 614sqm sold to home buyers, not developers or investors. Photo / Supplied
Wang said buyers who missed out on Allington Road are looking at new four-bedroom homes on Yule Place, which are selling for $1.2m to $1.5m. The townhouses, which will be ready to move into in December, are on much smaller sections. The sellers plan to downsize to the central city.
At the same Barfoot & Thompson auction, competition was stiff for a double grammar zone property, marketed by Wayne Guo and Bailey He.
After lengthy bidding, a two-bedroom unit on the corner of Orakei and Remuera roads, Auckland, sold for $1.3m. Photo / Supplied
Five bidders took 40 minutes to fight it out for a two-bedroom 1970s unit at the corner of Orakei and Remuera roads in Auckland Central before auctioneer Marian Tolich finally brought the virtual hammer down at $1.393m.
“There were 166 bids, the winning bid was $1000 more. Only three months ago the next-door unit sold for $1.25m, $143,000 less,” Guo said.
