Auckland Property Market

Property Auction in Auckland October 2013

Home Auctions in Auckland

A reflection of the Sales:

Property 1:

This property was in Woodglen Rd Glen Eden Auckland. This is a three bedroom home on a large 1012 sq meter section with modern kitchen, deck, basement, and garage and off street parking. Passed in at $480,000.00

Property 2:

This property was in St Heliers Rd St Heliers Auckland. This is an investment property with several attached to the parcel of land. First property is a garage /office. A block of 3 times 1 bedroom units. A three bedroom home plus carports.

Sold at auction for $1,260,000.00 

Property 3:

The property was situated in Woodward Rd Mt Albert. This is a completed renovated 4 bedroom bungalow style home with modern kitchen, polished floors, deck and central location to Auckland.

Sold after being passed in for $1,080,000.00.

Property 4:

The next property was situated in Springside Place New Lynn. This was a three bedroom home with a large conservatory, big workshop and garage. Described as being close to shops and school.

Sold for $565,000.00

Property 5: 

This property was situated in Clarence Street Ponsonby. This is a two bedroom home with polished floors, deck, huge double garage, and views of the Waitakere Ranges.

Sold for $1,260,000.00.

Property no 6:

Property located at Gill Crescent Blockhouse bay is a 3 bedroom home with a modern kitchen, deck and garden courtyard and internal garage. Close to all amenities. Passed in at $600,000.00.

Property number 7:

Located in Blockhouse bay Rd Blockhouse bay this is a three bedroom home on a fully fenced level section with modern kitchen, deck and off street parking. Handy location. This was passed in at $495,000.00.

Property number 8:

Olsen Ave Hillsborough is a four bedroom home on a fully fenced site with polished floors, decks, rumpus and internal access garage. Walking distance to all amenities this was passed in with no bids at all.

Property number 9:

Lillington Rd Remuera is described as a character home with four bedrooms, modern kitchen, conservatory, polished floors, and carport. Close to all amenities. Passed in at $930,000.00.

Property number 10:

Simkin Ave St John’s is four two bedroom units each with their own carport on leasehold land sold for $425,000.00.

Property number 11:

Halsey drive Lynfield is a spacious four bedroom home with designer kitchen, office, deck and enclosed back yard with a double garage. Well presented and close to schools. Passed in at the auction for $620,000.00.

Property number 12:

Kinross Street blockhouse bay was a brand new 5 bedroom home brick and tile with modern kitchen, patio, and double internal garage sold for $850,000.00.

Property number 13;

This is a spacious three bedroom home on a full site with designer kitchen, conservatory, polished floors, deck and carport. Close to all amenities. No bids except the auctioneers call to start at $500,000.00.

Property number 14:

Four bedroom family home with internal garage and off street parking. Close to motorway and shops. Required work done on the property sold for $406,000.00.

Property number 15: 

Lancing street Sandringham is a modern 3 bedroom home with a modern kitchen, gardens and double internal access garaging. There were no bids but the auctioneer suggested a $700,000 starting price.

Property number 16:

McLeod Street Te Atatu South is a three bedroom duplex brick and tile home with modern kitchen, deck, and internal garage. Has on site facilities like swimming pool, tennis court and spa. It is part of a large complex. They had no bids and suggested starting price was $300,000.00.

Property  number 17:

Brunner Rd Glen Eden is a three bedroom bungalow on a large section with modern kitchen. Open plan living for dining, deck, and garage and off street parking. Pasted in at $330,000.00.

Property  number 18:

Ely Ave Remuera is a three bedroom home with office and study, deck, double garage. City and bush views. Pasted in with an auctioneer bid of $750,000.00.

Property number 19:

Ophir Street Newton was a spacious 3 bedroom apartment with modern kitchen, open plan living, balcony, storage and internal garage with prime City and Urban views. Sold for $394,000.00.

Property number 20:

Kind Edward Ave in Epsom is a two bedroom unit in the end of a block of units. North facing, modern kitchen, conservatory and lock up garage. Auctioneer starting bid was $600,000.00 with no further bids.

Property number 21:

Property in Dominion Rd extension was a brick and tile 5 bedroom home on 1234 sq meters of sculptured land. With a modern kitchen, deck, rumpus room, garage and wide city views. This had some competition bidding for it and sold for $807,000.00.

Results:

39% of properties sold by auction on the day. 61% was passed in or had no bidders on the property at all. The property market has changed as the Reserve Bank restricted the banking system on how many loans they can approve over a security ratio of 80%. This has largely seen the first home buyers part of the market dry up. This has allowed overseas buyers and established property buyers bid on properties without too much competition. It has changed the market from a seller’s market more towards a buyer’s market. It will also mean that buying a home will go back to traditional negotiating situations rather than having every property coming onto the market by going to auction as the preferred mode of selling.