A three-bedroom house in Gisborne was snapped up by eager buyers just nine hours after it was listed.
Bayleys agent Jenny Murray said the sale price for 14a/690 Gladstone Road, in Te Hapara, could not be disclosed but it is understood to be “in excess” of $500,000.
Murray said she had sold other houses in the Sycamore Park lifestyle village this month, with prices ranging from $476,000 for a one-bedroom house to $500,000 for a three-bedroom home.
The buyers of 14a/690 Gladstone Road had missed out on the one-bedroom house at 10/690 Gladstone Road and had found out about 14a on a chance meeting.
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“This is such a Gisborne story,” Murray told OneRoof.
“We bumped into the under-bidders at the butchers and they said it was such a shame they’d missed out. [One of my colleagues] said, ‘Hold fire we might have something’.
Murray had just appraised 14a / 690 Gladstone Road after the owner, buoyed by the recent sales of neighbouring properties, wanted to see how much their home was worth. The house was listed the next day at 10.30am and the house was sold by 7.30 that evening.
“It’s a new record for me!”
The good price achieved at auction for 10/690 Gladstone Road earlier in the month prompted neighbours to list their property. Photo / Supplied
Murray said buyer demand was high in the region.
“Bayleys has had 92 percent success rate this year - the average sales price has gone up massively.”
Murray said that the combination of low interest rates, high rental prices and a shortage had brought more first home buyers into the market, some from other parts of the country.
Earlier this month a four-bedroom new build home in the city sold for $1 million at auction - 90 percent above its 2017 rating valuation of $527,000, unusual in a city with a median value of $455,000 according to the latest OneRoof-Valocity house price data.
Bayleys national auction manager Conor Patton told OneRoof earlier this month that Gisborne had the highest number of properties sold by auction, even higher than in Auckland, with up to 50 or 60 registered bidders at recent auctions.
“It’s just phenomenal numbers in terms of interest there," he said.
For ten months in a row, Gisborne homes are selling on average 70 per cent higher than their current CV, the highest in the country, Real Estate Institute of New Zealand's recent data shows.
