Four-bedroom homes in Auckland’s central suburbs are in demand, with buyers increasingly prepared to pay more for extra room space.
Last week a stylish four-bedroom home at 97 Alberton Avenue, in Mount Albert, sold for $3.3 million, more than $1.2 million above its 2017 rateable value, and an elegant four-bedroom villa on a section almost half the size at 24 Ponsonby Terrace, in Ponsonby, sold for $3.7 million – well above its $2.45 million RV.
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According to Ray White Mt Eden agent Rick Mozessohn, the number of bedrooms a house had was often more valuable to buyers than the overall floor area.
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Last year Mozessohn listed two neighbouring homes – one with three bedrooms and another with four. Buyers paid $200,000 more for the four-bedroom home.
“They were in the same area, right next door to each other and relatively similar but getting $200,000 extra is a pretty good indication that an extra bedroom has a lot of value for buyers,” he said.
Mozessohn said that most of the buyers looking to upgrade to a family home in the likes Ponsonby and Grey Lynn would want a property that suited their long-term needs.
“When you get to a certain price point, [the market] mainly consist of people buying their next house. They are expecting to stay there for a long time and having an extra bedroom is important to them,” he said.
And while adding a fourth bedroom to a three-bedroom house wasn’t a huge cost in many cases, buyers preferred to avoid the work and effort involved.
97 Alberton Avenue home with four bedrooms sold last week for $3.3 million. Photo / Supplied
Bayleys Ponsonby agent Jock Kooger said agreed that four-bedroom homes were popular with buyers in Auckland’s central suburbs.
“Four bedroom and two bathrooms is the sweet spot. Four-bedrooms are the most sought-after for two people - they might use it as an office or a library or a place for guests.”
