In a year when top properties in Auckland went for more than $25 million, there are still some tiny glimmers of affordable properties - with a catch.
Eight of the ten properties that sold in Auckland this year for under $100,000 were all part of a leaky terraced complex in Glen Eden.
READ MORE: NZ's biggest house sales
Remediation work - which took five years to get through the owners association - will be finished by April next year. But nearly a dozen owners flicked their properties rather than find the $250,000 contribution to re-roofing, new windows, exterior and new safety fire sprinkler system.
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Also under $100,000 were studio flats in student accommodation towers in Beach Road and Anzac Avenue.
Between $180,000 and $235,000 will buy a studio in a managed hotel in Gulf Harbour or a tiny flat in need of complete refurbish in Panmure, Onehunga or Mount Wellington.
Older single family homes in Clendon Park, Clover Park and the edges of Manurewa/Weymouth sold this year for $265,000 to $280,000. As Kiwibuild housing, generally with some masterplanned neighbourhood amenities, get underway, these formerly run-down neighbourhoods can only improve.
Single family homes around Auckland below $300,000 are generally on leasehold land).
Living in charming baches on outlying Rakino, Kawau or Great Barrier Island is not an option for most people, but a downsizing baby boomer could do worse than plunking down $200,000 to $300,000 for a cabin with shares in a holiday camp (there’s one at Graham’s Beach, Awhitu, another at Pinewood, Red Beach on the market right now).
If worst comes to worse, you could buy a carpark: $69,000 gets you a piece of pavement in Newmarket, while at the top of the market, $145,000 gives you a tandem carpark with a bonus storage locker.
