Houses under $400k are still available on market
‘‘When you're seeing a lot of cross-leases around here, it's mostly people renting, but now people are starting to buy, because it's cheaper.’’
Just 30 minutes from Ponsonby, an hour during peak times, opposite a public park and down the end of a wide driveway lie six of Auckland’s most affordable properties.
One house on that driveway, 1/140 Shifnal Dr in Manurewa, is a cross-leased three-bedroom house that is likely to sell for around $380,000 - just four times New Zealand’s average household income, putting it below even the Government’s standard of what an affordable house should cost in Auckland.
And there are others nearby in the mid-to-high $300,000 range, according to LJ Hooker agent Charlie Brothers - although he says buyers may have to ‘‘adjust their expectations’’.
‘‘When you’re seeing a lot of cross-leases around here, it’s mostly people renting, but now people are starting to buy, because it’s cheaper.’’
But Brothers, given the tongue-incheek title of ‘‘Mr Manukau’’ by colleagues for his enthusiasm for the South Auckland property market, is honest about the drawbacks of the Shifnal Dr property: the carpet is heavily stained, parts of the kitchen need to be replaced.