There was auction “mayhem” in Whangarei yesterday after 36 buyers registered to make bids on a three-bedroom bungalow.
The 1930s-build deceased estate at 39 Lovatt Crescent, in Kensington, sold for $725,000 - $200,000 above its rating valuation.
READ MORE: Find out if your suburb is rising or falling
The listing agents, Zoltan Waxman and Devon Cameron, from Ray White Whangarei, said the interest in the house had been huge.
Start your property search
“We had 36 registered bidders. It was one of the biggest auctions we’ve had – it was mayhem,” Cameron said.
In the auction room were first home buyers, movers and out-of-towners and once the property reached $700,000, there was just two bidders left competing.
“The auctioneer couldn’t keep up with the numbers people were calling out,” Cameron said.
The house had a modern look inside. Photo / Supplied
The winning bidder was a woman who had been looking for a house for some time.
“Because it’s a deceased estate everyone knew it would be sold for a fair market price.”
Cameron said that more than 140 groups had been through the open homes and that buyers had responded well to the modern renovation.
About 48 per cent of buyers in Whangarei, he said, were from out of town, with Aucklanders dominating.
An Auckland family at the same auction bought a six-bedroom lifestyle property in Whangarei’s Karanui Estate for $1.625 million - $388,000 above its CV.
9 Cornerstone Place, in Karanui Estate, sold to an Auckland family. Photo / Supplied
Located on a 1.46ha section, the property at 9 Cornerstone Place had 46 groups viewing it during the campaign.
“It’s cheaper here compared to Auckland,” Cameron said.
