A modest-looking, three-bedroom house in Auckland’s Onehunga has sold at auction for $2.605 million - more than $1.2m above its 2017 CV.
Barfoot & Thompson agent George Fong, who marketed the 660sqm Arthur Street property with colleague Laura McAuley, said the sale price was a record for the suburb.
“It was listed before lockdown, but the vendors live overseas and asked me to put this on the market when we could show people through,” Fong said.
“We had 17 groups through in Level 3, plus all the developers who don’t look in-person. There was a pre-auction offer of $1.8m in the first week, then it sold for another $800,000 more.”
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Fong added that about half of those interested in the property were developers, but there were also family buyers and some investors.
OneRoof records show the property last changed hands 10 years ago for $600,000, delivering the vendors a profit on paper at least of $2m. “Dress Smart is across the street and there’s a lot of development happening. Onehunga used to be affordable but now with the shopping, the central location, people have seen how convenient it is,” Fong said.
The 660sqm corner property on Arthur Street, opposite Dressmart Onehunga had a pre-auction offer within a week. Photo / Supplied
The buyer was represented by Barfoot & Thompson agent Wayne Guo, who said his developer-client was connecting with planners and architects and hoped to get building started quickly, probably with two- to three-level, three-bedroom townhouses.
“New build properties have sold out quickly, including through lockdown. I have just two of a four-townhouse development at 118 Mount Smart Road to sell, we are going to auction one of them for price indications around $1.3m. We’ve started to do auctions even for new builds as there are a lot of keen buyers.”
A new four-bedroom townhouse on Mount Smart Road goes to auction later this month, with interest already above $1.3m. Photo / Supplied
Buyers have snapped up the two most recent large scale apartment developments in the transit-oriented suburb.
The multi-storey, 102-apartment block Onehunga Mall Club, which began marketing only in April this year, is now 60% sold off the plans, Colliers project sales manager Juliet Lichtenstein told OneRoof, and construction starts next month.
The mix of one- and two-bedroom apartments in the centre of Onehunga’s main street were priced from $550,000 to $1,250,000. The balance will be sold when the building completes in late 2022.
Over 60% of the 102-apartment development Onehunga Mall Club have sold out and construction is about to begin. Photo / Supplied
Lichtenstein said the company was also now marketing stage two of Fabric of Spring Street, the final 98 apartments, after 161 apartments in stage one, Fabric of Onehunga sold out and buyers moved in last year. The stage two one-, two- and three-bedroom apartments are priced $637,500 to $1.42m.
“They’re situated around the pocket park completed last year, there’s a real story of people establishing community at both Fabric and Onehunga Mall Club,” she said.
