A smartly-renovated three bedroom villa in Auckland's Grey Lynn sold under the hammer this week for $2.443 million after just 12 days on the market.
The Murdoch Road house had been viewed by over 90 groups of buyers, six of whom registered to bid. A pre-auction offer of $2.3m was quickly eclipsed in Barfoot & Thompson's auction room on Wednesday as bidders piled in and kept the pressure on each other. The hammer came down after an intense five minutes, with the vendor walking away with additional $143,000.
Listing Matt O’Brien said the “beautiful villa” had caught people’s eye and was standout in the current market.
“It’s got the big room, the beaut character, north-facing. But the vendors had really cool taste in art and interiors, and that really lifted the feel of the place,” he said.
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The buyers were a family from outside the area.
He added that the vendors had done “little bits” to the property, including re-roofing, since they picking it up seven years ago for $1.835m, and were very positive and motivated.
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“There’s very little stock at the moment. Buyers are all cashed up so they can engage in the auction campaign," he told OneRoof.
“I’ve got a feeling that as the year goes on it will get better. It is definitely feeling more positive out in the trenches - buyers are being more forthcoming and actually wanting to buy again.
“I think buyers realise prices have more than likely hit the bottom, [so it’s] time to re-engage and buy,” O’Brien said. The property had a CV of $2.6m.
The villa was built in the early 1900s and many of the original features are intact like the high ceilings, polished timber floors, character fireplaces and attractive fretwork. Photo / Supplied
The kitchen and bathrooms are contemporary, and the house was re-roofed and re-piled. Photo / Supplied
The owners had told OneRoof before the auction that they were selling up to move west to Auckland beach spot Piha, where they own a seasonal taco joint and coffee shop. They said they were already feeling a pick up in business in the surf town after the devastating weather events and hope to contribute to Piha’s comeback by living locally.
Like the best of Grey Lynn villas, the Murdoch Road house had the high ceilings, polished timber floors, character fireplaces and attractive fretwork plus a contemporary kitchen and bathrooms.
The owners had plans for a minor dwelling and pool, and O’Brien said there was potential for the purchaser to add further value.
He added that with five buyers cashed up and ready to buy in the area, it was now a matter of bringing on more listings before the usual spring rush.
Buyers were drawn to the Murdoch Road house for its design, but there is also potential to add a pool or a secondary dwelling. Photo / Supplied
Last month O’Brien sold a four-bedroom villa in Tutanekai Street, Grey Lynn for $3.25m – well above its 2021 CV of $2.725m and $1.73m more than what it fetched in 2017.
At the time, O’Brien said the vendors had spent a “bucket load” on the renovation, with no expense spared. The property featured Italian bathroom fittings, American oak flooring, Miele appliances and a solar-heated pool.
The property was so nice that Barfoot & Thompson auctioneer Marian Tolich put it forward for the REINZ annual national auctioneering competition held just before the actual auction.
“We used that house as the house the auctioneers called in the final and they were all just blown away,” she said.
- Click here to see more properties for sale in Grey Lynn
- Additional reporting Louise Richardson
