Bayleys saw strong bidding in Auckland auction rooms as well as in other parts of the country last week, though Friday’s auctions in Gisborne were postponed and those planned for the Hawke’s Bay next week were yet to be decided.
Both of those regions have been badly hit by Cyclone Gabrielle.
National auction manager Connor Patton says for unaffected areas the bidding in some cases was reminiscent of better days in the housing market.
“We had a pretty good week this week. We had more brought forward auctions and we also had, interestingly for the first time in a while, multiple properties up and down the country not pausing to negotiate.”
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For that to happen not only means there is more than one bidder interested in the property but also that owners are “in the right headspace” to set realistic reserves.
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Two auctions attracted more than 40 bids each. One of them, a four-bedroom single-level, brick and tile house on Erson Avenue in Royal Oak saw bidding start at $1.3 million before selling 15 minutes later for $1.7m – above the 2021 CV of $1.675m and more than double what the vendor paid in 2009.
The other, a deceased estate on Bramley Drive, in Farm Cove, which comprised a four-bedroom home on a 685sqm section zoned for development, saw bidding begin at $1.15m before finishing 10 minutes later at $1.71m – just below its 2021 CV of $1.775m but more than $1.4m above what the property changed hands for in 1989.
Other good results included the sale of an entry-level two-bedroom townhouse in Orakei for $880,000, understood to be to first-home buyers, and the sale of an architecturally-designed St Heliers property for $2.275m.
A deceased estate on Bramley Drive, in Farm Cove, Auckland, was sold as either a renovation or development opportunity. Photo / Supplied
The St Heliers property was designed by Jessop Architects and features a “dramatic” double void entry and is within easy reach of the waterfront and village, according to the marketing.
“We had 60% sell under the hammer in Auckland this week, I’m happy with that,” says Patton.
“Towards the end of last year we had clearance rates, granted on larger volumes, which were sub-30%.”
While some properties in Auckland have been impacted by the recent weather events, increased buyer activity appears to have continued.
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