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Auction Report 30 August 2021

Since my last 23 August report our virtual auction presentations, due to our Level 4 Lockdown,

have continued with great success not only for our vendor clients but also our buyers giving an opportunity to secure a property that will be best suited to their current requirements and not needing more time to secure their future.  After all, life does not wait for any of us.

As, also noted in previous weeks reports, placing properties “on the market “to sell “under the hammer” was the key factor in vendors being rewarded with further bidding and achieving the pleasing final prices.

I want to start with Friday 27 August because not only did it finish a very active week for us but it also gave us the momentum to start this week.

Friday 27 August

We were asked to market two neighbouring properties, 26 Old Wairoa Road and 99 Arimu Road Papakura that contained a total land size of some 1502m2. Both properties included homes built originally for Army occupation, with 26 Old Wairoa Road particularly well presented reflecting owner occupier care with up to date service room fittings/ fixtures and décor/ furnishings. 99 Arimu Road whilst having been in tenancy occupation also had a very pleasing presentation. With a Residential Mixed Housing Urban zoning it was not surprising that buyers would anticipate redeveloping and maximising the expansive 1502m2. It finally sold “under the hammer “after 39 minutes and some 31 competitive bids at $2,453,000.

24 Coolaghy Drive, Flat Bush followed having been brought forward from its 30 August designated auction date due to an unconditional offer that was presented to our vendors and accepted subject the property being submitted to auction at the earlier auction date.  This home offered buyers a particularly well-presented family home of five bedrooms spread over its two-level floor plan. A separate lounge and a very spacious family living combination of kitchen/ dining/ family lounge ensures very appealing family living in a newer neighbourhood that is developing so fast around schooling and the newly opened Ormiston Town Centre. From the preauction offer of $1,560,000 and some 82 bids and 24 minutes later it sold  “under the hammer “ at $1,655,000.

2/12 De Thiery Place, Pakuranga followed in the afternoon, having been brought forward from its 30 August designated auction date due to an unconditional offer that was presented to our vendors and accepted subject the property being submitted to auction at the earlier auction date.

This property offered buyers a three-bedroom home, two bathrooms and indoor living opening to a large covered deck. New ownership will have the opportunity to add to its presentation. From the opening bid at $851,500 and with a further 48 bids it sold “under the hammer “at $942,000.

30 August 2021

27 The Crest, Sunnyhills attracted seventeen registered bidders to a property of some 670m2 surrounding a traditionally built block and brick home. The two-level floor plan provides three bedrooms, family bathroom, separate lounge, dining adjacent to kitchen at the upper level and big rumpus space with internal access to double garaging at the lower level. A north facing terrace absorbs urban and glimpses of the Tamaki River. This property attracted buyer interest from those who appreciate a wonderful opportunity to take it into the future with contemporary reorganising/refurbishing plus those who anticipate maximising the total 670m2 section size.

From an opening bid at $1,500,000 and some highly competitive 108 bids that took 34 minutes, it finally sold “under the hammer “at $2,001,00.

So, after three weeks of marketing with the interruptions of Lockdown, there have been extremely pleasing, positive and competitive bidding for the properties sold under the hammer.  It also needs to be acknowledged that the sales provided buyers with an opportunity to buy quality real estate assets knowing that while having to competitively bid/ buy to be the “winner” they were bidding/buying property that was also the first choice for a number of other buyers.

The excellent prices achieved confirmed our ability to maximise price for our vendors, however, to achieve such results, buyer interest, working with our mortgage broker partners , bidding registrations  and actual competitive bidding are the components to achieving great results.

This was all completed despite all the challenges of our Level 4 Lockdown.

Ken Ralph

Auction Services Manager