Auckland Property Market

First Real Estate Auction of the year in Auckland

First Real Estate Auction of the year in Auckland 

Well I went to my first real estate auction of the year in Auckland tonight. It was a hot balmy night. The room the auction was held in had no air con on and was really hot. The Auctioneer could also hardly be heard over the general noisy of the crowded room.

There where six properties up for sale. Five sold and one was stopped at the vendors bid.

A vendors bid is when the Auctioneer places a bid on behalf of the owner. This is because the highest bid at that stage was too far below the reserve price. The price did not go any higher in the auction. 

First Property was in Woodbine Ave in Greenlane. It was a fully renovated two bedroom one bathroom property. For the open home it had been staged to try and get maximum price at the auction. They had the best furniture to show off all its features in its best light. This was a cross lease property. This sold for $458,500.00. After the auction about 40 people left the room. 

The second property was an apartment which had 1 bedroom, 1 lounge, 1 car park and fully furnished. This was in the Statemens building and sold for $320,000.00. 

The third property was a one bedroom, one shower apartment in Argent Hall. Currently this building is having remedial work completed on the building. This sold for $130,250.00. 

The fourth real estate property was an apartment in11 Liverpool Street Auckland Central. It had one car park. Sold for $332,000.00. 

The fifth property was a two Bedroom Terrace house in 118 BroadwayNewmarket. It has a lounge, 1 bathroom and 1 car park. The top bidding stopped at around $420,000.00  which is where the auctioneer came in with a vendors bid of $450,000.00. This stopped the auction and this lead to the bidders having to negotiate through the normal real estate selling process. 

The final property was an apartment at 92 Nelson StreetAucklandCentral.This apartment block is called Regent the Court. This was sold for $230500.00. 

The real estate auction was all over in about an hour. The estate agents looked happy with a very succesful sale night.