Small house in­creases by $100K in one year

Central Leader - - FRONT PAGE - TOM CARNEGIE

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.

TOM CARNEGIE / FAIR­FAX NZ

The St Mary’s Bay prop­erty was built in the 1890s.

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