A two-bedroom townhouse in Auckland’s Stonefields sold under the hammer this week for $1.225 million – more than $200,000 above its rateable value, and $20,000 above the reserve.
There was strong competition to snap up 12B Vialou Lane at the Barfoot and Thompson auction on Monday, with the house going to a pair of Auckland buyers who had previously lived in the suburb.
The couple had decided to buy in the neighbourhood again after their travelling plans were halted by Covid-19.
The listing agent for 12B Vialou Lane, Barfoot and Thompson’s Mary Du, said the buyers had sold up their four-bedroom Stonefields home three years ago, and had planned to fly out to London.
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The pandemic forced them to scrap their plans, and they had been recently renting in the area with their belongings sitting in storage.
Du said the house prices in Stonefields had changed since the couple had sold in 2018.
The 87sqm townhouse last changed hands in 2015, for $735,000, handing the vendor a profit, on paper at least, of nearly half a million dollars. The sale price is thought to be one of the highest for a two-bedroom town house in the suburb.
Du said the property had proved popular during the open homes, with 46 groups viewing it during the marketing campaign. Many of the buyers interested in the home were young couples or single who were already renting in Stonefields but some were mum and dads looking to help their children get on the property ladder.
The two-bedroom town house had a CV of $1.02 million. Photo/ Supplied
Bidding on the property started at $900,000 and quickly passed $1 million, with several buyers dropping out at that point. “Anything under $1 million in Stonefields is a 70sqm apartment,” Du said.
The vendor, who purchased the town house off the plan, was very pleased with the sale and was now looking to buy a house in Hawke’s Bay.
Stonefields homes have some of the highest resale profits in the country. Photo / Fiona Goodall
Property values in Stonefields have risen rapidly in the last 12 months, jumping 14% to a new median of just under $1.5 million. The master-planned community is a mix of standalone homes, terrace houses, townhouses and units.
Last month a four-bedroom terrace house on Stonefields Avenue sold under the hammer for $2 million, setting a record for terrace houses in the suburb.
