- A Christchurch home sold for nearly $300,000 above reserve after intense bidding from five parties.
- The winning bid of $1.485m came from a buyer who viewed the property 24 hours prior.
- Mount Pleasant is popular for its affordability and sea views, attracting professionals and downsizers.
A modern Christchurch home sold for nearly $300,000 above its reserve when it hit the auction room last week.
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The three-bedroom property on Selleck Street, in Mount Pleasant, had been on the market for just over a week when an offer of $1.2 million brought the planned sale forward.
Harcourts listing agent Alison Aitken said the auction was intense, with five bidders competing against each other.
“OMG, it was nuts. But it just shows Mount Pleasant is very popular at the moment,” she said.
The winning bid of $1.485m was from someone who first viewed the property just 24 hours ahead of the auction.
The Selleck Street house attracted the attention of professionals and downsizers. Photo / Supplied
Aitken told OneRoof the house had attracted a mix of professionals and downsizers during the marketing campaign she ran with colleague Jonny Nicholls.
“It was a very cool, contemporary home, and I think small homes are popular. Not everybody needs a big house. And I think it’s a bit about how people want to live now,” she said.
The owners had tried to sell the property with a different agency at the end of last year, but were unsuccessful. Aitken said she was able to show in the marketing that the sellers were motivated to sell. “They wanted to buy in Brisbane and they wanted it sold.”
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Mount Pleasant was extremely hot at the moment, Aitken told OneRoof, noting that the suburb was seen as more affordable than neighbouring Scarborough and Sumner.
“I think people want to have a sea view on an affordable budget, and Mount Pleasant has become really popular again.”
Bayleys agent Steve Ellis agreed there was a resurgence in interest in Mount Pleasant, with out-of-towners identifying it as good value compared to other Christchurch suburbs.
Prices started in the mid-$1ms and went up to $3m for larger, high-end properties.
At the upper end of the market in Mount Pleasant is 285 Major Hornbrook Road, which is for sale by negotiation. Photo / Supplied
304 Cannon Hill Crescent, in Mt Pleasant, is seen as entry-level buying and goes to auction on July 3. Photo / Supplied
Ellis is currently selling an expansive four-bedroom at 285 Major Hornbrook Road with an RV of $1.75m. “Quite a few people are coming from other areas in Canterbury, and the story seems to be for a few people that kids are getting older or kids have moved on and they are looking for a view or a different way of life.”
The other main buyer groups were families moving from Queenstown for Christchurch’s high schools and Aucklanders looking for a more affordable lifestyle. “They see the hills as a huge bargain because they compare it to their own markets, which are far more expensive," he told OneRoof.
“If they were on a hill with a view in Ponsonby or any of those areas, it’s big money – like double the price.”
Ray White Metro City sales and auction manager Richard Withy has also noticed the competition to get into Mount Pleasant.
A 1970s home on Cannon Hill Crescent recently sold at a competitive auction, while buyer interest in a neighbouring home at 304 Cannon Hill Crescent, which goes to auction on Thursday, has also been strong.
- Click here to find more properties for sale in Christchurch
