House sale price could go sky high
SkyCity CFO hoping to come up trumps with $20m national record
A SkyCity executive could set this year’s national house price record with a sale his agent predicts could be around $20 million.
Rob and Kim Hamilton’s Remuera property is an American colonialstyle home which they bought 18 years ago for just over $2.5m.
The house is now being advertised for sale carrying a CV of $15.1m.
However, agent Michael Boulgaris says he expects to get well over the CV for the extensively renovated place which stands on around an acre of grounds.
The Hamiltons had spent a considerable amount on the grounds and the house and had changed it to such an extent that really only the house facade was the same, Boulgaris said. A new swimming pool and tennis court were developed, he said.
Hamilton, SkyCity’s chief financial officer, said the home was bought for his family. He said now their children were older, he and his wife were looking for a smaller home.
However, they had not yet bought and were open to offers.
“My observation is that properties in this market are still selling comfortably above CV. You might look at recent sales in the area,” Hamilton said.
In July, the Herald reported on the transfer of a $13.9m “stunning hidden getaway” near Arrowtown which had then set the record for 2019’s most expensive sale.
So a $20m sale would eclipse that and set 2019’s record.
The Hamilton’s Aldred
Rd house has five bedrooms, a rumpus room, family bathrooms and ample storage and wardrobe space, advertising says.
“The ground level is designated to expansive living with multiple French doors opening to the sizeable northern and western loggias with views over the swimming pools, tennis court and valley landscape,” Boulgaris says.
Two freehold titles were combined to give a 3915sq m area or more than a third of a hectare of relatively flat usable land, he said.
OneRoof editor Owen Vaughan said: “In the last 12 months, the top end of the market in Auckland has struggled to achieve the record sale prices that seemed to be notched up on a weekly basis dur- ing the boom.
“That’s partly due to the foreign buyer ban and homeowners deciding to stay on the sidelines, but the recent lowering of interest rates and a lack of stock on the market is starting to lift buyer activity, with auctions again helping to drive higher than expected sale prices.”
Several properties have been sold during 2019 in excess of $10m but none come close to last year’s residential high of $25.5m, let alone the all-time record of $39m set in 2013.
Nick Goodall of CoreLogic said CVs and sale prices differed wildly when it came to the country’s most expensive homes. Often, wealthy people paid well over CV to get what they wanted.
“Exceptional properties attract certain types of people who will pay whatever they want because it’s all about securing that property and they don’t care what the CV is,” he said.