An Auckland villa bought as a do-up 14 years ago for $1.605 million sold under the hammer last month for more than three times that amount.
The beautifully restored five-bedroom home at 52 Stanley Point Road, in Stanley Point, was snapped up by an expat family for $5.05 million - $1.3 million above its 2017 rating valuation.
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The family had been renting in Auckland for a while and beat out competition from two other bidders in the room.
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The listing agent, Bayleys’ Victoria Bidwell, said the sale price was a record for a non-waterfront home in the suburb.
She said potential buyers had been hooked by the large section, beautiful presentation and outdoor swimming pool.
Bidwell had success last week with another character villa in neighbouring Devonport.
The large four-bedroom family home at 21 Cheltenham Road sold under the hammer for $4.125 million - $1.275 million above its rating valuation, and more than $3.5 million more than what it last sold for in 1993.
Bidding starting at $3.5 million, with four buyers driving the price quickly past the $4 million mark.
Bidwell said that properties like 21 Cheltenham Road – north-facing, close to the beach and boasting a large section – were hard to find. “It is only the second one to come up in number of years," she said.
21 Cheltenham Road, in Devonport, in Auckland, fetched $4.125 million at auction. Photo / Supplied
Bidwell added that both 21 Cheltenham Road and 52 Stanley Point Road were “forever homes that people look to live in long-term. If you’re coming to Devonport, you’re looking for a character home.”
Both sales show the strong demand for homes at the top end of the Auckland housing market.
That heat is also being felt in the luxury apartment market, with a 216sqm ground-floor flat at 1/27A Paritai Drive, in Orakei, selling to a downsizer for $4.675 million – more than $1.8 million above the RV.
1/27A Paritai Drive, in Orakei, Auckland, sold under the hammer for $4.675 million. Photo / Supplied
The listing agents, Ray White’s Andrew Fava and Ross Tierney, said they had more than 80 inspections for the three-bedroom apartment during the sales campaign, with six bidders competing at the auction.
"It works out to be $25,000 per square metre. It’s pretty incredible money," he said.
Tierney telling OneRoof that properties like 1/27A Paritai Drive rarely came to market. “It’s in a special position. You’ve got views from the bedroom and it’s not too small or too big - just perfect for a downsizer.”
The apartment had last sold in 2011 for $1.69 million.
