A four-bedroom home in South Auckland sold under the hammer this week for just under $2 million.
The house on Great South Road in Manurewa fetched $1.901 million – more than double its 2017 CV – after 47 bids at a packed Ray White Manukau auction on Tuesday.
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The rental property, which also includes a two-bedroom sleep-out, sits on an 819sqm corner site zoned for terrace housing and apartment building and had been pitched by the listing agent Levani Lum-On at developers and investors.
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According to Ray White, the sale broke the suburb record for price per sqm by more than $300. The previous record stood at $2,002 per sqm.
According to OneRoof data, the property last sold in 2013 for $530,000, delivering the vendors a profit, on paper at least, of $1.371 million.
The Great South Road house was one of nine properties that sold at the auction for a combined total just shy of $10 million, with an average sale price of more than 25% over the CV.
A three-bedroom do-up on Geoffrey Place, in Mangere sold for $850,000 - $250,000 above CV – while a four-bedroom home on Sandbrook Avenue in Otara property sold for $856,000 – more than $200,000 above CV.
Ray White Manukau director Tom Rawson said the auction room was “absolutely packed to the rafters”.
The buyers included a mixture of developers, investors and first home buyers, he said.
“We even had one seller coming from as far away as Devonport, sitting in two hours of traffic, so she could watch her property go under the hammer,” Rawson said.
This do-up on Geoffrey Place in Mangere, South Auckland, sold under the hammer for $850,000. Photo / Supplied
At Barfoot and Thompson’s auction on the same day, a three-bedroom home in Manurewa’s Percival Street sold under the hammer for $930,000.
The 1950s house, which was marketed by Barfoot and Thompson agents Owen Roberts and Sue Matete, had a rating valuation of $650,000 - $140 of which was for the house.
The property was another development play. It is on a 908sqm section zoned for mixed housing urban.
