A luxury apartment on one of Auckland’s wealthiest streets sold for $3 million-plus within 24 hours of hitting the market.
Ray White agent Ross Hawkins told OneRoof he had received an offer on the two-bedroom flat on St Stephens Avenue, in Parnell, before he had put up the “For Sale” sign outside, saying that high-end homes were thin on the ground in the suburb.
“The first person to see it signed straight away,” he said, adding that there were other buyers who would have bought too. He could not disclose the price on the mid-floor apartment, which had a CV of $2.95m, but confirmed it was “north of $3m”.
“It was one of those in a primo corner site, with northern sun, it had harbour views and share of a heated swimming pool,” Hawkins said.
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“There are only four in the block and people really like that boutique aspect, they all know each other and it’s a nice little niche group.”
In January, Hawkins sold the ground floor apartment in the same block, which took up the entire floor, for $6.05m.
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The agent told OneRoof that while market performance in the last four to six weeks had been impacted by clients being away on lengthy summer holidays in Europe, he was starting to fill the pipeline with new listings.
“But people want to know where they’re going before they list. Everybody is sitting on the fence until the election," he said.
“I’m saying to them that the window to sell is now, when there is very little competition. If people get a long settlement, they are cashed-up and will have a lot of options when they buy.
The two-bedroom, mid-floor apartment had views over the pool to the waterfront. Photo / Supplied
With few new listings in Parnell, agents are telling vendors to list now. Photo / Supplied
Hawkins doubts even a change in government will affect the market. “Get on with it now, there are definitely buyers waiting in the wings,” he said.
He said interest in a stately four-bedroom home at 20 St Stephens Avenue, that is now asking $5.65m, a little over CV, was high. He expected family buyers would want to add their own modern touches to the grand home, which has been in the same family for 18 years.
Bayleys agents Fleur Denning agreed that buyers were out there, saying that many of the 120-plus buyers who looked at the two properties she sold earlier this year – one on Bridgewater Road that sold for $6.5m at the end of March and the other on Takutai Street that sold for an undisclosed price in the high $6m in June – are still looking.
“We can have people in Parnell who are coming through open homes for at least a year,” Denning said.
“It’s not uncommon for people to be looking out for three years. They’re looking for really good properties, and there’s not a lot they’ll compromise on.”
A four-bedroom, three-year-old townhouse on Parnell Road sold at auction last week for $2.18m. Photo / Supplied
A family paid over $6m for a four-bedroom house on Takutai Street, Parnell, in June. Photo / Supplied
The large four-bedroom home on Bridgewater Road attracted some 60 buyer groups through, mostly people downsizing from much larger homes but not ready to go into apartments.
A family with young children moved across town to the smartly updated four-bedroom home on Takutai Street.
“We had five written offers on our close date selling for a price substantially above the CV [of $5.9m],” she said, adding the price was confidential.
“There are a large number of buyers in the $6m and over price bracket, particularly families doing the rounds looking to secure a quality family home in a central family-orientated location."
Bayleys agent Lorraine Young was happy at the price achieved for a four-bedroom, three-year-old townhouse on Parnell Road which went for $2.18m after three bidders competed in the auction last week.
The buyers had paid $2.115m for the near-new property in March 2021, just as the market was peaking, so Young said they were pleased to sell for more than that in this market.
“Buyers are definitely re-emerging compared to the very low point. There is very limited stock so well-marketed properties are selling,” she said, adding that vendors still need to maximise presentation and marketing to get those results.
“You can’t throw something on the market, it still requires effort.”
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