A Christchurch couple were left “flabbergasted” when their first and only home of 61 years sold at auction for $945,000, almost $400,000 over RV.
Patricia and Donald Colenso spent about 24 hours after the auction thinking about the bidding war that played out between the three bidders, which has given them a bit of “pocket money” as they get ready to move into their second house.
The Colenso’s long-time family home went to auction earlier this month with six people registering to bid on the Ilam property and three actively bidding.
Two people battled it out until the very end resulting in the sale price pushing past the reserve and far exceeding both the couple’s and the agent’s expectations.
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Having only even owned the Hounslow St home, Patricia added they were both “delighted and surprised” with the auction result especially in the current market especially as they knew people who hadn’t been as successful.
The couple who are now in their 80s, can still vividly remember being a newly married in their early 20s and scrambling together a 760 pound deposit for their 4,400 pound home in the new Ilam subdivision after securing a 3% loan.
The house on Hounslow Street sold for almost $400,000 above its RV. Photo / Supplied
Donald recalled it was “quite a lot of money” at the time and even with both of them working during the first few years they “struggled for quite a few years”.
When they first moved in, Patricia said they didn’t have any curtains so fastened the cardboard that their mattress had been wrapped in to the windows.
The couple oversaw the building of the red brick and tile home, which Patricia said only had one garage because at the time they never dreamt they would end up owning two cars.
“We fell in love with it not only because we got the loan, but because it was a new development and it was where we wanted to be.”
Over the next three decades they created hundreds of memories in the immaculate three-bedroom, one-bathroom home where they moved as a young married couple, raised their two children and eventually retired.
When they first moved in, there were only a couple of houses on Avonhead Road leading a clear view from their house of the Alps.
But now those views have been replaced with houses, established trees and numerous shopping centres.
They never considered moving, Patricia said, even as the area gradually changed from being filled with young families to rentals for students to its close proximity to the University of Canterbury.
It was only at the end of last year, when a close friend died that they decided to make the next move into a retirement village.
And while they will be sad to close the door on that chapter of their lives, they have promised themselves that they will only look to the future as they get ready to make the next move into a retirement village.
This house on Wairakei Road, in Bryndwr, Christchurch, fetched $1.591m at auction. Photo / Supplied
Harcourts listing agent Leeann Marriott said it was an exceptional outcome and had been “life changing” for the owners.
“I’m just so happy for them that it’s given them choices.”
Marriott had initially appraised the “pretty original” property between $750,000 and $800,000 based on recent sales in the area.
“One buyer went to $850,000 and the other two just fought it out. It’s as simple as that.... We went sailing past the reserve.
“We never thought we would go there on auction day. All the feedback had been between $750,000 and $850,000, but three people just wanted it. So, the process brought the buyers to the room and the owners got an exceptional result.”
The would-be buyers were attracted to the home both because of its large backyard and location to the university and good schools, she said.
While not all auctions are as successful, Marriott has in recent weeks sold two other properties at auction – one in Cardigan Bay Place, Addington for $655,500 and another in Wairakei Road, Bryndwr, for $1.591m - that attracted a lot of interest both during viewings and at the auction itself.
“The last three I’ve done, they all sold well in excess of the reserve that’s for sure.”
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