Strong demand for properties at the top of the market in Auckland was evident in the city’s auction results in March.
A traditional four-bedroom home just out of prized double grammar zone on Maungakiekie Avenue, in Greenlane, sold for $7.3 million – $600,000 above CV – while a modernised five-bedroom villa on Ashton Road, in neighbouring Mount Eden and in double grammar zone, exceeded its CV by $3m after it was snapped for $5.6m.
Other big sales under the hammer included the purchase of a lifestyle property at Point Wells, near Matakana, for $5.8m and the purchase of a scenic home on Summer Street, in Stanley Point, for $5.08m.
Another handful of properties sold under the hammer last week in the $4m-$5m price bracket, including a 425sqm five-bedroom architecturally-designed home with pool and tennis court on Brighton Road, Parnell, which went for $4.75m; a five-bedroom home with pool on Long Drive, Saint Heliers, which fetched $4.667m; and a four-bedroom home with pool on Melanesia Road, in Kohimarama, which sold for its a pre-auction offer of $4.6m.
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And across in Herne Bay, a modern three-bedroom house wrapped around a courtyard on Cox Street sold for $4.05m.
The Maungakiekie Avenue home included a two-bedroom Ken Crosson-designed cottage. Photo / Supplied
Ray White business owner Heather Walton, who marketed the four-bedroom home on Maungakiekie Avenue said she had an offer after its first viewing. The property, on the market for the first time in over 40 years, sits on a 1601sqm section and came with a two-bedroom cottage designed by star architect Ken Crosson and a one-bedroom pool house.
The buyers had put in a pre-auction of $7.3m and the property was sold within seven days of it hitting the market. “When it comes up, you just buy it. They [ the buyers] knew a nearby fully renovated place sold for $9.9m a year ago, so worked back from there.
“They’d only just started looking, and asked could they buy before auction. The owner was happy, if you can get that nice king-hit price. Three or four other buyers missed out.”
Walton said another property on Melanesia Road, in Mission Bay, had nine bidders and sold for more than $4m, demonstrating that once-in-a-lifetime, move-in ready properties get snapped up quickly.
A modernised villa on Ashton Road, Mount Eden, sold at auction for $5.6m. Photo / Supplied
UP Realty agent Lisa Pringle, who marketed the luxury five-bedroom bay villa on Ashton Road with colleague and Colleen Strachan, said that four bidders competed for the house.
She said that there was big demand for immaculately presented properties, but buyers were now also looking for properties zoned only for single houses because they did not want multiple units going up next door.
“The rising interest rates don’t matter; they’ve got good paying jobs. There are three other buyers with $5m to spend [after this auction],” she said.
Bayleys agent Victoria Bidwell, who sold the immaculately presented five-bedroom villa on a huge 1012sqm section on Stanley Point for $5.08m, said that auctions were still strong at that upper end, with expats looking for impressive-looking properties.
On Auckland's North Shore, a villa on Summer Street, Stanley Point, sold at auction for $5.08m. Photo / Supplied
“Expats are certainly back and looking, some with $8m to $10m to spend. I’ve got five good high net-worth cash buyers back in the country looking at Stanley Point.”
Buyers are also putting up their hands for lifestyle properties.
Bayleys agent Kellie Bissett brought forward the auction on a four-bedroom home on 1543sqm of waterfront land at Point Wells after “outstanding interest” and a pre-auction offer.
“There’s no shortage of high-end buyers, either from Auckland or locals moving around from Omaha. Waterfront is stepping up because it’s exclusive, and people have an eye to the future - they're thinking of multi-generation holdings.”
A pre-auction offer brought forward the auction of a waterfront home on Harbour View Road, Point Wells, that sold for $5.8m. Photo / Supplied
