A renovated bungalow has broken the sale price record this year for one of Auckland’s most sought after suburbs.
The six-bedroom house at 24 Linwood Avenue, in Mt Albert, sold under the hammer for a whopping $3.35 million - $1 million above its 2017 CV.
READ MORE: Find out if your suburb is rising or falling
The sale eclipsed the previous 2020 record for Mt Albert by $15,000.
Start your property search
The listing agents, Barfoot and Thompson’s Kath Barnes and Jacqui Vaughan-Kells, told OneRoof that the property had been immensely popular with buyers during the marketing campaign, with 12 bidders registering for the auction and five actively competing to secure the home.
Demand for large family homes is pushing up prices in Mt Albert. Photo / Supplied
Barnes said that while the house sits on a 997sqm site zoned for mixed housing suburban, most of the interest had come from families from neighbouring suburbs, adding that there was huge demand for large family homes at the moment.
Bidding on the house rapidly jumped in lots of $25,000 to $50,000 from a high starting bid of $2.7 million, with the offers passing the reserve of $3 million in less than a minute.
Many buyers had thought the property would sell in high $2 millions and stopped bidding once the price crossed the $3 million threshold, she said.
Five active bidders drove the price $1 million above the CV. Photo / Supplied
The sale was good news for Barfoot and Thompson Grey Lynn agent Pernilla Da Costa, who represented the lucky buyers: it was her first ever sale after getting her real estate licence in September.
Da Costa said: “I am happy for the buyer and the vendor, a win-win, really. It’s such a fabulous property and I’m sure the buyers will love living there.”
House values in Mt Albert have risen almost 13 percent since the end of March, when the country went into a nationwide lockdown and the housing was put on hold, and in the last 12 months they have gone up 21 percent (or $225,000) to a median of $1.29 million.
Barnes said the house was stunning, a standout for the area.
“It was beautifully presented and cared for by the same family for 21 years who also had renovations done to it.”
The house is located on the St Luke’s side of the Mt Albert and is in zone for Mt Albert Grammar and Gladstone School.
“It has six bedrooms and 327sq m of floor area and the home has a separate wing with a second living room which is good for working from home or guests,” Barnes said.
