Eller­slie house list­ing bends the truth

Central Leader - - FRONT PAGE - STAFF RE­PORTERS

A real es­tate agent has tweaked an Auck­land house list­ing af­ter it raised eye brows for its bold state­ment.

Ray White real es­tate agent Shane Hodg­son said on a Trade Me house list­ing that the east Auck­land sub­urb of Eller­slie had ’’never been cheaper’’.

How­ever, the list­ing was up­dated on Fri­day to say ’’this one has never been cheaper’’ af­ter Stuff at­tempted to con­tact Hodg­son and also made con­tact with his branch man­ager at Ray White Pa­p­a­toe­toe.

The five-bed­room ren­o­vated home in the city-fringe sub­urb was set out un­der the mis­lead­ing head­line de­spite an ask­ing price of $1.19 mil­lion.

It sold in 2010 for $555,000. Prop­er­ties in Auck­land’s eastern sub­urbs are ex­pe­ri­enc­ing dou­ble-digit year-on-year growth, with the av­er­age value of homes in the area sit­ting about $1.5m, ac­cord­ing to CoreLogic fig­ures. The home on Michael’s Ave has an RV of $830,000 and is touted as hav­ing ‘‘char­ac­ter, charm and lo­ca­tion’’.

It boasts wooden floors and high ceil­ings ‘‘with a per­fect mod­ern twist - per­fect for the Mod­ern Fam­ily’’.

The house was listed on Trade Me on Jan­uary 18 and comes with 404sqm of land.

While there has been re­cent talk about house prices stalling in Auck­land, the me­dian value is still sit­ting above the $1m mark.

QV fig­ures show house prices in the re­gion dropped 0.7 per cent dur­ing the past three months to $1,043,680.

Shane Hodg­son could not be reached for com­ment.

On March 13 a Stuff re­port found that the time it takes to sell a prop­erty in Auck­land is at a sixyear high as house sales in the city con­tinue to ease. Ac­cord­ing to the Real Es­tate In­sti­tute, the me­dian house price in Auck­land fell a sea­son­ally ad­justed 1.7 per cent last month to $800,000, al­though it was 11 per cent higher year-on-year.

Sales were down a sea­son­ally ad­justed 9 per cent on a year ago, and the num­ber of houses on the mar­ket was up by a fifth.

‘‘There is a strong sense now that the Auck­land mar­ket has peaked,’’ West­pac se­nior econ­o­mist Michael Gor­don said.

REINZ chief ex­ec­u­tive Bindi Nor­well said Auck­land’s mar­ket was a mixed pic­ture at present.

Days to sell rose from 41 to 43 days, just be­low the long-run av­er­age.

CHRIS GOR­MAN

The time it takes to sell a prop­erty in Auck­land is now at a six-year high.

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