A five-bedroom family home fetched more than $1 million above CV this week as frustrated buyers continue to stretch themselves in the Auckland's heated housing market.
Six bidders drove the price of 11 Tarawera Terrace, in St Heliers, to $3.58 million at an auction held by Ray White Remuera on Wednesday.
The listing agent for the property, John Lantz, said family homes rarely came to market in St Helliers, and this one had attracted big crowds at the open homes.
“We knew it could have a lot of interest but not quite as much as it had,” he told OneRoof.
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Reflecting the demand for the property, the opening bid at the auction was $2.5 million, with the second bid upping the stakes by half a million dollars. More bids followed until the property was secured by a local buyer who has three children and grandchildren living in the area.
“The people who were bidding and missed out said they weren't surprise it went for that price and wished they had pushed harder. Some have been looking for over a year and said it was the first house that met all the criteria,” Lantz said.
The five-bedroom home in St Heliers has a designer kitchen with butler's pantry. Photo / Supplied
Built in 2015, the 247sqm home stretches over 824sqm site and has three bathrooms, a designer kitchen, butler’s pantry, an outdoor fire, heated swimming pool and garden.
Lantz said the house had attracted plenty of interest from young families expecting children or with teenage children, as well as downsizers. "I wish I had 12 more of these because a dozen of people missed out."
Lantz also sold a stylish four-bedroom house in Meadowbank for $2.345 million - well above the CV - at the same auction while a three-bedroom cottage in nearby Ellerslie, marketed by Ari Starr and Sarah Walden, sold to “a very happy first home buyer” for $1.67 million. That house at 20 Wilkinson Road had nine registered bidders competing.
Across town at Barfoot and Thompson's auction another family home soared past its CV by almost $1 million.
The renovated villa at 1 Reimers Avenue, in Mount Eden, sold for $2.29 million to a young couple who had missed on several other properties before.
Barfoot and Thompson agent Leonie Stabler, who was marketing the property with Derek Helliwell, said the couple had been on their radar. "They were very pleased to secure something and were very keen to get it,” she said.
1 Reimers Avenue in Mount Eden sold under the hammer for $2,29 million. Photo / Supplied
Stabler said the eight registered bidders at the auction were either young couples or “nesters” who were looking to start a family.
“It went quite a lot over the reserve as there's definitely FOMO at the moment from people who already missed out on properties before,” she said.
