A three-level character home in Double Grammar Zone led the pack in Auckland's auction results last week.
The house, at 80 Orakei Road in Remuera, achieved the highest auction sale price last week, selling for $2,717,000 - 14.4 percent above its 2017 CV - showing that great properties maintained to a high standard continue to present good value to buyers and vendors alike.
Ray White sales agent John Quiambao, who marketed the property along with Jasper Foo, said: "We had about 70 people come through the open homes and 88 people turn up to the auction, which was held at the property. The quality of the recent renovations to the property and its staging made a huge difference, as did being part of a large team to provide top customer service throughout the process. I also think timing also had an impact - there hasn't been a property like this come onto market in Remuera in a while.
Mr Quiambao said there were five to six registered bidders on the day, with four of them taking part and lodging bids. "The bidding started high, at $1.7 million, and then jumped to $2.4 million, which showed just how serious the bidders were. Both the buyers andthe vendors were pleased with the sale price - representing a great deal for ahigh quality character family home in Remuera."
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A total of 93 properties sold under the hammer in Auckland in the week from September 15 to September 21.
Although the number of auction sales was up on the week before, the clearance rate was down six percentage points from 42 percent; with 163 properties not selling under the hammer (it is not known how many of those properties subsequently sold post-auction).
The area with the highest clearance rate was Auckland City, on 43 percent, followed by Franklin (38 percent), Manukau City (35 percent) and North Shore City (31 percent).
Most of the properties that sold at auction (42 percent) had a sale price of between $500,000 and $1 million. Forty percent of properties sold under the hammer for between $1 million and $1.5 million, while nine percent (seven properties) sold for between $1.5 million and $2 million. Just five properties sold under the hammer for more than $2 million and just two sold for less than $500,000.
The median price was up $84,650 on the week before, to $1.05 million.
Next to 80 Orakei Road, the highest sale prices achieved at auction last week were: 341 West Tamaki Road, in Wai O Taiki Bay, which was marketed by Bayleys agent David Nightingale and sold for $2,500,000 (9.89 percent above CV); 8A Willow Lane, in Stillwater, which was marketed by Harcourts agents Alice He and Esther He and sold for $2,401,880 (24.77 percent above CV); and 37 Allenby Avenue, in Devonport, which sold for $2,100,000 (3.70 percent above CV) and was marketed by Bayleys agent Victoria Bidwell.
Bayleys national residential manager Daniel Coulson said the unique nature and location of 341 West Tamaki Road had driven interest in the 1123sqm property. "We had multiple interested parties in the house. It offered buyers fantastic views of the harbour and the fact this was the first time it had come to the market added to its value."
Coulson added that 37 Allenby Avenue was typical of the recent spate of high-quality listings on the Shore. "Bayleys has enjoyed a 100 percent clearance rate at auctions on the Shore in the past two weeks. Good properties in good locations continue to attract buyers."
At the other end of the scale, the lowest sale prices at auction last week were for two one-bedroom units: 1E/82 Wakefield Street, in Auckland Central, sold for $275,000, while 1208/9-17 Byron Avenue, in Takapuna, reached $377,000.
The property to see the biggest rise on CV was 152 Wily Road, Puni, in Pukekohe, which marketed for sale by Harcourts agent Dan Hewes. The four-bedroom lifestyle property sold for $1,290,000 at auction - 26.47 percent above CV.
