A new-build home has set a new sale price record for Auckland's Dannemora, after selling under the hammer for $3.905 million this month.
The six-bedroom house, which occupies an impressive 1247sqm site on St Elmo Rise, in the city's eastern belt, drew a lot of interest at the open homes, Bayleys listing agent Kevin Barber told OneRoof.
“We had 12 parties in the room in a position to buy, five actively bidding. Some got left behind, they were all keen,” he said. The hammer came down well above the CV of $2.875m.
The buyer was a local, moving from two streets away to secure his forever home, and plans to use the property's pool house as a home for extended family.
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The sellers had bought the property in 2019 for $1.49m with plans to demolish the plaster home that occupied the site and replace it with a large modern family home.
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They first built a 65sqm two-bedroom self-contained pool house to live in with their three children while they built the main house and put in a new pool. The family moved into the 352sqm main house only last year, after completing the nearly two-year project.
“They bulldozed the old house completely, dug up the driveway, ripped out the pool because it wasn’t compliant. All they retained was part of the concrete slab,” Barber said.
The plaster house that used to sit on the St Elmo Rise site. The sellers demolished it and put in a new pool. Photo / Supplied
The build took two years to complete but the results were hit with buyers at the open homes. Photo / Supplied
Barber said buyers at this $3m-plus price level were generally cashed up or have easier access to money if they haven’t sold their old house.
“The top end is resilient, the bottom is kicked to death. An auction for an $800,000 unit, nobody shows up at the auction.”
The agent has another property he will start marketing next week, a classic 1970s Spanish-style house on nearly two acres that will test the appetite for lifestyle properties on Dannemora's rural fringes.
The interior is bright and spacious. Photo / Supplied
He expects the property on Point View Drive, on the market for the first time since it was built 47 years ago, will attract buyers keen on a rural aspect but close to the town centre. It has a CV of $2.27m, but Barber expects interest closer to $3m.
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