An impressive home in one of Christchurch’s best streets has sold under the hammer for $6.8 million, just missing out on breaking the city’s long-held auction sale record by $25,000.
Although the Helmores Lane home, in Fendalton, was unable to beat the auction price record set four years ago, it is still the most expensive property to sell so far this year.
The auction sale record for Christchurch is held by a five-bedroom 1930s house on a huge 4961sqm riverside section on Glandovey Road, also in Fendalton, that sold at a Bayleys auction for $6.825m four years ago.
Harcourts Grenadier salesperson Alison Aitken, who marketed the four-bedroom Helmores Lane property, said last week’s auction showed that high-end properties also did well at auction and, in her opinion, was the best way to sell them.
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“I think a few agents are a bit worried about taking higher priced properties, but it’s the same as anything else, isn’t it – same thing, just different numbers,” she said.
“You are getting things done in a short time instead of going backwards and forwards and deadlines and it goes on and on and on, doesn’t it.”
Aitken said the home stood out as a unique “once in a lifetime” opportunity offering a 2000sqm section overlooking Little Hagley Park and located right on the Avon River.
“It’s a scarcity of properties like that – modern homes coming up on the market on big land areas in that prime location. We don’t have many.”
It is also very rare for properties on Helmores Lane to come up for sale as people tended to hold onto them, she said.
“There probably hasn’t been a modern home available in Helmores Lane like that and I don’t think there would be many with the land size now.”
This five-bedroom home on a 4961sqm riverside section on Glandovey Road in Fendalton, Christchurch, holds the city's record of the highest sale price at auction achieved four years ago for $6.825m. Photo / Supplied
Harcourts Grenadier managing director Andy Freeman said with some people missing out on the Helmores Lane home, it showed there were still buyers out there looking in the high-end price bracket.
Freeman said auctions were “only a method” and the value of the property didn’t matter because two properties also sold at the same auction in the $300,000s price range.
“Everyone gets hung up about the auction, ‘oh this is not an auction house’. Every house is an auction house – it's just the method.”
Properties going under the hammer in his auction rooms have been going “brilliantly”, he said. Last week’s auction had a 75% success rate with 12 of the 16 properties called at auction selling.
A new four-bedroom, four-bathroom home at 23 Desmond Street, just off Helmores Lane, on a 1295sqm section is also for sale and priced by negotiation. Described in its listing as “elegant and exclusive”, the property was designed by Canterbury architect David Sheppard and built by the award-winning Gregg Builders.
Aitken also sold Britton Stables in November last year for $7.8m, which still holds the record as Christchurch’s highest ever sale price after selling by deadline sale.
Last month two other properties in Fendalton also fetched high prices at auction with a Queens Avenue home selling for $4.25m and a house on Glandovey Road, known as Stonedale, fetching $3.075m.
23 Desmond Street in Fendalton, Christchurch, is a four-bedroom, four-bathroom home on a 1295sqm section priced by negotiation. It was designed by Canterbury architect David Sheppard. Photo / Supplied
Ray White national auction manager Sam Steele said the $6.8m sale was a good sign for Christchurch auctions.
“It’s very, very positive for the Christchurch market and it’s not surprising given the most desirable properties go to auction.”
Meanwhile a luxury penthouse apartment in Remuera, Auckland, now holds the national auction price record after selling under the hammer for $12,771,500 last Wednesday.
The sale price dwarfed the previous record of $9.9m set by a five-bedroom home in Auckland's Greenlane in March 2021.
Bidding for the top-floor residence of 308 Remuera Road started at $11m at a Bayleys auction and ended 14 minutes later at $12,771,500.
Bayleys national auction manager Conor Patton told OneRoof last week that the penthouse auction was affirmation that price was not a barrier at auctions.
“From an auctioneer’s perspective it’s a nice affirmation that we can auction at any price point and from a human perspective, it was nice to deal with lovely people and help both sides get a result.”
- Click here to see more properties for sale in Fendalton and Merivale
