A waterfront home in Auckland’s Devonport has sold for more than $8 million and another in neighbouring Stanley Point changed hands for more than $6m as high-value properties in the city’s North Shore continue to hold their own.
Bayleys agent Victoria Bidwell, who brokered both deals with Charles Bidwell, said the top end of the market had not been affected by the house price slowdown.
While there was “not a surplus” of buyers for waterfront homes, demand was still high.
The $8m-plus was for a four-bedroom house on Cheltenham Road, which had been on the market for more than a year. The two-storey property opened up onto Cheltenham Beach and boasted a renovation by award-winning architect Geoff Richards.
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The $6m-plus was for a modern, four-bedroom cliff-top home on First Avenue in Stanley Point. The vendor had bought the property in January of last year for $5.45m but sold up to be closer to her grandchildren.
Victoria Bidwell said the Cheltenham Road price was the fourth highest price for the Devonport area (a house on Arawa Avenue fetched $8.75m in 2016, while properties on Winscombe Street and Rata Road sold for $10m each in 2016 and 2018 respectively).
The cliff-top house in Stanley Point, in Auckland's North Shore, sold for more than $6m. Photo / Supplied
“We’ve done other sales on Stanley Point for $5.75m and $6.25m, as well. Two of those were to expats coming home to settle. Stanley Point is very small, those city views are spectacular and it’s got the water.”
The Bidwells are currently marketing an unusual buy for the area, a semi-completed house on 531sqm of land on the cliffs above the beach at 84a Vauxhall Road, in Cheltenham, Devonport – but surrounded by some of the suburb’s most expensive homes.
The half-completed house for sale at 84a Vauxhall Road, in Devonport, Auckland. Photo / Supplied
Charles Bidwell told OneRoof that despite the building project, which begun in 2017, requiring buyers to do their own due diligence with Auckland Council around consents and sign-offs, interest in the property was still high. It has a current ratings valuation of $5.25m, but Bidwell said in its incomplete state it was hard to value.
“It’s tough to get where it’s at for value. The property next door, on 2555sqm, has a rating valuation of $13.2m,” he said.
“A lot of buyers are from the construction industry, they have a good feeling for what it could be turned into, either for their own homes or to on-sell.
“A townhouse just below on the beach at Bath Street sold for a confidential price, but it’s set a good precedent.”
