Auction Action: Character homes feel the heat
Character homes feel the heat at auction, writes DARIA KUPRIENKO.
AUCTION ACTION
An Auckland villa bought as a do-up 14 years ago for $1.605 million sold under the hammer last month for more than three times that amount.
The beautifully restored fivebedroom home at 52 Stanley Point Road, in Stanley Point, was snapped up by an expat family for $5.5m – $1.8m above its 2017 rating valuation.
The family had been renting in Auckland for a while and beat out competition from two other bidders in the room.
The listing agent, Bayleys’ Victoria Bidwell, said the sale price was a record for a nonwaterfront home in the suburb.
She said potential buyers had been hooked by the large section, beautiful presentation and outdoor swimming pool.
Bidwell had success last week with another character villa in neighbouring Devonport.
The large four-bedroom family home at 21 Cheltenham Road sold under the hammer for $4.125m – $1.275m above its rating valuation and $3.5m more than what it last sold for in 1993. Bidding started at $3.5m, with four buyers driving the price quickly past the $4m mark.
Bidwell said that properties like 21 Cheltenham Road – north-facing, close to the beach and boasting a large section – were hard to find. “It is only the second one to come up in number of years,” she said.
Bidwell added that both 21 Cheltenham Road and 52 Stanley Point Road were “forever homes that people look to live in long-term. If you’re coming to Devonport, you’re looking for a character home.”
Both sales show the strong demand for homes at the top end of the Auckland housing market. That heat is also being felt in the luxury apartment market, with a 216sqm ground floor flat at 1/27A Paritai Drive, in Orakei, selling to a downsizer for $4.675m – more than $1.8m above the RV.
The listing agents, Ray White’s Andrew Fava and Ross Tierney, said they had more than 80 inspections for the three-bedroom apartment during the sales campaign, with six bidders competing at the auction.
“It works out to be $25,000 per square metre. It’s pretty incredible money,” he said.
Tierney said properties like 1/27A Paritai Drive rarely came onto market. “It’s in a special position. You’ve got views from the bedroom and it’s not too small or too big – just perfect for a downsizer.”
The apartment had last sold in 2011 for $1.69m.