Small house increases by $100K in one year
A small home in one of Auckland’s most expensive suburbs increased by $100,000 in one year despite sitting virtually unchanged for the last 100 years.
The three bedroom weather board home at 21 St Marys Road in St Marys Bay is possibly the last untouched property in a suburb that boasts some of the country’s most expensive house prices.
With an original wash house with wooden tubs, claw foot bath, tiled fireplace, meat safe and formal living area the 90sqm house is a relic now rarely seen in Auckland’s leafy suburbs.
Property records show the house was built between 1890 and 1899.
After being owned by the same family since 1936, the 300sqm property sold for $1.485 million in March 2016.
A year later in March 2017, the property has been sold, by Custom Residential, for a price just under $1.6m.
Earlier this month it was reported that St Marys Bay was Auckland’s second most expensive suburb with a median sale price of about $2.3m.
Custom Residential real estate agent Sandy Dowdle declined to release the exact figure the property sold for.
‘‘It will be on public record week one of April,’’ Dowdle said.
No renovations had been carried out on the house between the two sale dates, Dowdle said.
The Custom Residential property listing encouraged potential buyers to ‘‘bring your architect and builder’’.
‘‘Now a testament to simpler time, it is ready to take the place it deserves in the world that surrounds it,’’ the listing said.
The difference in prices between the March 2016 and 2017 sales showed growth of 6.5 per cent.
Dowdle said the current average growth of St Mary’s Bay was 17.9 per cent.
The Auckland housing market showed further signs of levelling out last month with the time it takes to sell a property now at a six-year high.
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 yearon-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.
The vendor was not available for comment.
The St Mary’s Bay property was built in the 1890s.