An Auckland house designed by former TV personality Sally Ridge sold under the hammer this week for $6.15 million – $100,000 more than what the owners paid for it just eight months ago.
The 18-year-old house on Paget Street, in Freemans Bay, sold after just 21 days on the market, after an offer brought the auction forward by a week.
The listing agent, Ray White Remuera's Harry Champtaloup, told OneRoof there were no other bidders on the property, which has changed hands three times in the last 12 months. The house sold in July last year for $5.75m and then sold again in November for $6.05m.
The four-bedroom house was designed in the early 2000s by Ridge, who is now a real estate agent for Bayleys, and her then-partner, former New Zealand cricketer Adam Parore.
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Champtaloup told OneRoof that the property had a real buzz about it, with more than 55 groups looking at it.
“Sure there were neighbours interested in the contemporary design, but most of the groups were people shopping with $6m. To get another $100,000 since the market peak [in November] goes against the grain, but shows the strength of the upper end. These people are not subject to bank-imposed finance, and we’ve got a lot of international buyers looking who are well-educated on prices,” he said.
The four-bedroom house, which had a CV of $5.6m had been updated by the owners with new flooring, electrics and window treatments after they bought it during Auckland’s 2021 lockdown. The family’s adult children have now left home so the couple are downsizing. It boasted luxury bathrooms and kitchen, a pool and stunning views of the city.
The vendors told OneRoof that the views from the house were stunning, especially at night when the Sky Tower is lit with different colours. Photo / Supplied
Sally Ridge in 2015. She designed the Paget Street house in the mid-2000s with her then partner. Photo / Michael Craig
In June, Champtaloup had sold a five-bedroom renovated villa on the same street for $5.4m, also at auction.
The agent said that there are a lot of vendors quietly listing their homes off market – he currently is marketing two “stunners” in St Marys Bay and Freemans Bay that he expects to fetch more than $5m.
“Genuine buyers and sellers operate in all markets, it will give people confidence to disregard the negative,” he said, adding that many sellers wanted to do their deals now so that they can be cash buyers when the spring market happens and there are more homes to choose from.
In June, a five-bedroom villa, also on Paget Street, Freemans Bay, sold at auction for $5.4m, more than $1m over CV. Photo / Supplied
However, Champtaloup said he was still a fan of auctions to get the results for vendors, as they help flush out the unconditional buyers.
That strategy worked for vendors of a four-bedroom arts and crafts bungalow on Platina Street, Remuera, which sold under the hammer today for $4.2m after 15 bidders fought it out.
Barfoot & Thompson agent Emily Lei, who marketed the property, said the auction had been brought forward after just two weeks on the market, with a pre-auction offer. But after 10 minutes and some fierce bidding, it sold for $900,000 more than the pre-auction offer, to another buyer.
A four-bedroom bungalow on Platina Street, Remuera, sold to a developer for $4.2m - $900,000 more than its pre-auction offer. Photo / Supplied
The property had a 2021 CV of $3.55m and OneRoof records show it last changed hands seven years ago for $2.4m.
Lei told OneRoof that most of the interest was from developers, who were interested in the desirable location – 845sqm zoned for suburban development in the double Grammar zone, within easy walking distance of the private schools. Over 30 groups viewed the property, and more than four bidders were still raising their hands as the price passed $4m, she said.
- Additional reporting Louise Richardson
