New Zealand's lockdown property market has yielded some standout sales, from villas in trendy Auckland suburbs to multi-million-dollar homesteads in Queenstown.
But the lockdown sale that perhaps shows Kiwis' appetite for real property is that of 2 Manse Street, in Clinton, Clutha.
The abandoned rundown villa which lacked even a front door was advertised on the listing as needing a lot of work. But despite its drawbacks it sold for above the listed price of $49,000 which suggests Kiwis will still take on big real estate projects even in challenging times.
The 130sqm villa is situated on 2023sqm of land and came with a neighbouring hall that was used for storage.
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OneRoof housing market figures from before the lockdown showed the median value of Clinton properties was $130,000 - making it one of the most affordable places to buy a home in New Zealand.
Ray White agent Sue Soper, who marketed the property, called the villa the "bargain of the year", adding: "I'm not going to lie, both properties need a lot of work."
Nicole Cronin, who heads up the Ray White office in Gore, told OneRoof the listing had multiple offers on the listing, which attracted investors from all over the country.
“Where else do you get an opportunity to purchase a house for that price in New Zealand?” she said.
Cronin said the buyers had indicated they were willing to put in work and restore the rural Otago villa to its former glory.
“It’s a house that’s been abandoned - it doesn’t even have a door - and someone has seen its potential and bring it back to life,” Cronin said.
Region's highest recorded sale price in the last six months was $815,000 for a three bedroom home on a 948sqm section at 1353 Taieri Mouth Road, in Taieri Mouth. The sale, completed in December 2019, was almost $300,000 above the home's 2017 CV.
