Buyers in Auckland’s blue-chip suburb of Herne Bay can’t move fast enough to snap up high-end properties when they hit the market.
Wall Real Estate agent Ollie Wall said that a grand four-bedroom villa on Herne Bay Road the agency listed three weeks ago had a buyer almost straight away and sold after just a week of negotiations.
The ornate two-storied villa, with a pool, two studies and multiple living areas was swamped with interest, Wall said. The property had a CV of $6m, and sold for “north of $7m,” he added.
“I’ve never seen so many people in the $7m to $10m bracket before. There’s been nothing for sale. Ironically enough, people were not listing because they thought this wasn’t the time. But because of that, people who are listing are getting the big prices,” he said, adding that they had at least 12 people who were interested in the luxury northern slopes home.
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Wall said that while sometimes he’ll know who the likely buyers will be before a house goes on the market, other times the agency advertises more widely.
“There’s not a helluva lot in the pipeline and it’s hard to get stock. We’ve got a house on 60 Marine Parade we listed last week, it’s absolutely immaculate, not a finger needs to be lifted. We expect that’ll probably sell this week.”
Buyers with budgets of $7m-$10m are snapping houses, such as this villa on Emmett Street that sold within days for close to $7m. Photo / Supplied
The four-bedroom arts and crafts home that sits on a 1025sqm site with a pool and pool house, office, wine cellar and double garage, has a CV of $10.4m but Wall would not say what it could sell for.
Wall and Graham Wall sold another modernised four-bedroom villa with a pool on Emmett Street, on the boundary of Herne Bay and St Marys Bay, in July after less than two weeks on the market for close to $7m, well over its $6.4m CV.
“A well-finished family home, four bedrooms with a pool and lawn – people are lining up for them,” Wall said.
The sale comes after downsizing Herne Bay buyers snapped up an award-winning architect-designed house on Franklin Road, Freemans Bay, after just a day on the market. The Jack McKinney-designed house sold for just under $5m.
A renovated bungalow on Lawrence Street, Herne Bay, had an offer within three days of listing, eventually selling for $4.825m. Photo / Supplied
Bayleys agent Blair Haddow had an offer within three days for a grand five-bedroom bungalow he had listed on Lawrence Street in Herne Bay’s northern slopes, bringing the planned auction forward to last week.
“We listed Sunday, we had an offer Wednesday,” he said, of the buyers from his database.
Three bidders registered for the auction for the house which had elevated sea views, a double garage and study, but it sold for its pre-auction offer of $4.825m. Records show it had a CV of $5.1m.
“This is always a good sign,” Haddow said. “There’s very limited stock and buyers see the value. It appealed to a mix of buyers, from downsizing couples to families in the avenues moving to the northern slopes. Everyone is looking.”
However, Herne Bay southern slopes locations closer to Ponsonby are not holding buyers back.
A five-bedroom renovated villa on Ardmore Road listed in early August by Ray White agents Keitha McLaren and Richard Thode sold within 11 days.
The two-storied house, with a swimming pool and separate bedrooms and living room on the ground floor, on one of the streets known as “the Avenues” had huge interest McLaren told OneRoof.
“We had 20 groups through as soon as it hit the market, we didn’t even do the second weekend of open homes,” she said. While she couldn’t divulge the price, McLaren said it sold for “just under $6m”, well above its $5.4m CV, adding the owner was very happy. Records show the house sold in September two years ago for $4.75m.
A new listing of a grand four-bedroom home on Marine Parade, Herne Bay, will likely sell within the week. Photo / Supplied
“People looked at that ground floor and thought it could be for the au pair, with the two bedrooms, or separate living for the teenagers, but a lot of older people without kids at home saw it for a home office,” she said.
McLaren said that houses in the Avenues were as popular as northern slopes houses without views because they were within walking distance of the stylish Jervois Road shops and restaurants and the new chic supermarket.
She said at least 10 couples who missed out on the Ardmore Road house were still looking, a mix of empty-nesters moving from Remuera for the buzz and people on lifestyle blocks downsizing to the city, with budgets of $5m to $6m.
A five-bedroom villa on Ardmore Road, Herne Bay, sold within 11 days for just under $6m, well over the $4.75m it sold for two years ago. Photo / Supplied
“I’m door-knocking [for properties], saying to people [to] beat the spring rush of listings as now all eyes will be on you.”
McLaren said that properties in the eastern suburbs like Orakei and Remuera were not selling nearly as fast as those in the same price points in Herne Bay and Ponsonby.
“They’re not [looking for] $15m near the water, they just want to be in a great precinct,” she said.
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