A once-grand Auckland house from the 1930s with the tag line “crying out for love” sold in a hard-fought auction battle this week for nearly $2.5 million, despite needing work to bring it back to its former glory.
Barfoot & Thompson agent Julie Fitzpatrick, who marketed the property on Laurie Avenue, in Parnell, with Alex Baker, said the big house was possibly the last one in a sought-after street in need of transformation.
Families and renovators had shown interest and they slugged it out in the auction room, with one winning and planning a full makeover, said Fitzpatrick.
She said the auction was thrilling: “You could have heard a pin drop.”
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The house, which sold for $2.409m, under the 2021 CV of $2.65m, was described in the listing as “much admired, with terrific bones, this handsome generously proportioned circa 1930s home is desperately seeking love and attention”.
The listing also said the property would be an exciting project for those keen to roll up their sleeves and bring their architect, builder, tradies and landscaper.
The double grammar zone house set on 908sqm of “untouched” section is at the end of a quiet no-exit street in a central location close to amenities.
“Opportunities in this coveted spot are rare,” said the listing. “Take the plunge, add some love and new life to an old charmer and invest in your family’s future.”
Fitzpatrick told OneRoof the house, an estate sale, was in a pretty street of the sort where houses have been owned by different generations of the same family, and she said they rarely change hands.
Inside the Laurie Avenue home, which the agents described as having "terrific bones". Photo / Supplied
The house would have been “gorgeous” when built, and as there was an historic overlay building developing terraces on the site was not an option.
It was billed as six bedrooms, and students had lived in the house for 10 years turning some rooms into bedrooms.
A less grand but also popular do-up, and another deceased estate, sold at the Barfoot & Thompson auction for $1.204m – also below CV.
Marketed by Alan Vessey and billed as a classic do-up in coveted Lambeth Road in Mt Eden, was a two-bedroom house with a mustard yellow exterior, 1950s kitchen with pink cupboards and rooms with green carpets.
The marketing described the property as a “canvas for your dreams”.
“With expansive 557sqm freehold grounds, envision creating your own oasis, hosting gatherings or simply enjoying the serenity of your private sanctuary.”
Auctioneer Murray Smith said the sales were good results and that auction numbers are up.
A two-bedroom do-up on Lambeth Road, in Mount Eden, Auckland, fetched $1.204m under the hammer. Photo / Supplied
“Even through November I had $120m in sales and the last time I cracked $100m was December 2021, so that’s pretty significant.”
Part of Smith’s big numbers are down to the increase in auction volume but part is due to big prices with some $4m and $5m sales being made.
Those included the sale of a 1920s stucco bungalow in Remuera which broke the $5m barrier in a hard-fought auction – the owners had paid a mere 5000 pounds for the property in 1942.
Smith says auction rooms this week were busy and there was a lot more positivity in the market. The house in Parnell was an exciting auction but it was not a surprise it fetched a big sum despite needing work.
“It’s Parnell – what’s the end product going to be worth once someone has done it up?”
Houses in Parnell can easily fetch $4m or $5m, he said, and this one had a premium address in a premium location.
“It’s got a grandness about it. When that comes back on the market it will look incredible.”
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