- A Mount Roskill home sold for $2.155m, $755,000 above expectations, after intense bidding.
- The 1146sqm property attracted developers due to water restrictions in other Auckland areas.
- A Māngere East property sold for $495,500, less than half its RV, due to significant issues.
A homeowner yelled like he was at a football match when his agent called to tell him his house had sold under the hammer for about $750,000 more than he or anyone else expected.
Start your property search
Ray White listing agent Josh Anderson told OneRoof his client’s basic brick and tile home on Arundel Street, in Auckland’s Mount Roskill, attracted a lot of buyer attention at auction last week.
An opening salvo of $1 million jump-started the sale as 12 registered bidders tussled for the right to own the four-bedroom home. First-time buyers began dropping out soon after bidding soared past $1.6m, leaving just developers and investors to duke it out.
The 1146sqm property ended up selling to a developer for $2.155m - $155,000 above RV.
The four-bedroom brick and tile home on Arundel Street had been in the same family for 27 years. Photo / Supplied
The home was renovated about six years ago. Photo / Supplied
Anderson said his clients - a father and son pair who had inherited the property - had been happy to take about $1.4m, but the market had other ideas.
The auction result left them all stunned. “When I was on the phone to the son in the UK he sounded like he was screaming at a football match,” Anderson told OneRoof. “The father was almost in tears and just blown away – he probably didn’t know how to process it all.”
Various water restrictions in Auckland’s eastern and southern suburbs meant developers were looking for sites in the city’s central suburbs, with the Mount Roskill site ticking all of their boxes.
Discover more:
- Radio star on the highs and lows of her six-year renovation challenge
- Kiwi real estate agent rubbing shoulders with Dubai's super-rich
- Builder's off-grid escape: 'Enough of the banks, enough of the insurance'
The owners didn’t want a long settlement, stipulating that buyers settled on the property within six weeks. Several developers dropped out as a result, but on the morning of the auction, they called to say they were back in.
Anderson said the developer who won the property had initially wanted a nine-month settlement. One of the bidders had even threatened to skip the auction and fly out to Fiji if the vendors didn’t accept his pre-auction offer of $1.1m. “Lo and behold, he turned up at the last minute.”
Not every home that sold under the hammer at Ray White Manukau’s auction last week fared as well. A problematic property on Gray Avenue, in Māngere East, ended up selling to an investor for $495,500 - less than half its RV.
A large fire-damaged building and unconsented stilt home on Gray Avenue, in Auckland's Māngere East, sold last week for $495,500, less than half its RV. Photo / Supplied
Ray White listing agent Lawrence Kenyon-Slade said the property was in a flood zone, down a long, narrow driveway, and had power lines dangling over the site. One of the dwellings was unconsented and needed to be removed; the other had been damaged in a fire.
“So technically we were selling a burnt down house with another house that needed to be removed,” he told OneRoof.
“The owner just said he needs to get the money out, and that’s where all the market feedback had been for that property. It was technically land with a few curveballs.”
- Click here to find more properties for sale in Auckland
