Archive | Ellerslie

14 of 36 intensive homes sell through auction

14 intensive homes sold in the auctionroom or shortly after, out of 36 offered at Barfoot & Thompson’s city office in 6 sessions from Tuesday-Thursday this week.

They were a mix of cbd & suburban apartments, suburban units & townhouses, and some cross-leases (I ignore standalone homes not on cross-lease sections, and also didn’t manage to check for cross-leases at every auction session).

Many were passed in without a bid offered, and were back on the market soon after with a price stipulated.

Image above: The Ivory, Conrad Properties’ new apartment development just off the new university campus on the former Lion Nathan brewery site on Khyber Pass Rd, and back from Newmarket Broadway – the new style of suburban intensive living.

CBD

Learning Quarter

Seaview, 4 Short St, unit 7A:
Features: 143m², 3 bedrooms, 2 bathrooms, deck, parking space; vendor to pay roof repair levy in full
Outgoings: body corp levy $8542/year
Outcome: passed in at $700,000, back on market at $968,000
Agents: Annie Xu & Sean Zhang

Sapphire Apartments, 76 Wakefield St, unit 307:
Features: 33m², one bedroom apartment
Outgoings: rates $1110/year including gst; body corp levy $2270/year after 10% discount
Income assessment: $380/week
Outcome: sold for $338,000
Agents: Annie Xu & Sean Zhang

Sapphire Apartments, 76 Wakefield St, unit 610:
Features: 60m², 2-bedroom apartment
Outgoings: rates $1435/year including gst; body corp levy $4340/year
Outcome: passed in at $485,000
Agents: Stephen Shin & Zoran Farac

Uptown

Q Central, 58 Liverpool St, unit 6D:
Features: leasehold, 2-bedroom penthouse loft
Outgoings: rates $1436/year including gst; body corp opex levy $3727/year, ground rent $8049/year
Income assessment: $600-640/week
Outcome: sold for $127,000
Agents: Stephen & Leo Shin

Victoria Quarter

Heritage Tower, 22 Nelson St, unit 1119:
Features: air-conditioned one bedroom, covered parking space, out of hotel pool, remedial work on building is underway
Outgoings: rates $/year including gst; body corp levy $/year
Income assessment: $/week
Outcome: no bid, back on market at $435,000
Agents: Alexander Kramarenko & Luke Shi

Zest, 72 Nelson St, unit 512:
Features: 2-bedroom apartment
Outcome: withdrawn from auction
Agent: James Yu

Isthmus east

Ellerslie

43 Celtic Crescent, unit 4:
Features: 2-bedroom unit, carport
Outcome: sold post-auction
Agent: Michelle Mi

Epsom

8 Bowling Avenue, unit 2:
Features: 72m², 2-bedroom unit, garage
Outcome: sold for $836,000
Agents: Mike Pedersen

87 Buckley Rd:
Features: cross-lease, half share in 1012m², 3-bedroom house, double garage
Outcome: sold post-auction
Agents: Paul Hodgman

Ivory, 10 Lion Place, unit 403:
Features: 65m² including balcony, 2-bedroom apartment, 2 bathrooms
Outcome: sold for $745,000
Agent: Cici Wang

44 St Andrews Rd, unit 8:
Features: studio
Outcome: sold for $388,000
Agent: Leonie Stabler

Meadowbank

128A St Johns Rd, unit 2:
Features: 2-bedroom unit, conservatory, double carport
Outcome: sold for $820,000
Agents: Kathy Bower & Julie Fitzpatrick

Mt Wellington

27 Stanhope Rd:
Features: cross-lease, half share in 809m², 3 bedrooms, garage
Outcome: sold for $927,000
Agent: Melody Lowe

Newmarket

Queen’s Lodge, 176 Broadway, unit B409:
Features: 2-bedroom apartment, 2 bathrooms, parking space
Outcome: passed in
Agents: Amy Ho & Jonas Ho

One Tree Hill

2 Ewenson Avenue, unit 4:
Features: cross-lease, 1/7 share in 1510m², 2 bedrooms, balcony, carport
Outcome: passed in at $500,000, back on market at $605,000
Agent: Robin Liu

41 Tawhiri Rd, unit 4:
Features: 2-bedroom unit, parking space
Outcome: sold for $755,000
Agent: Wendy Sadd

Parnell

Freemont Towers, 11 Freemont St, unit 13:
Features: 1960s apartment block, 50m², one bedroom, offstreet parking
Outcome: sold for $660,000
Agent: Ian Griffiths

Mayfair, 75 Parnell Rd, unit 12A:
Features: 62m², one-bedroom apartment
Outgoings: body corp levy $5901/year
Outcome: no bid
Agent: Melody Lowe

21 York St:
Features: m², 3-bedroom terrace, study, balcony, conservatory, offstreet parking
Outcome: no bid, back on market at $1.85 million
Agent: Bobby McMillan

Remuera

82D Clonbern Rd:
Features: cross-lease, 5/56 share in 4799m², 2-level townhouse, 3 bedrooms, study, double carport
Outcome: passed in at $1.1 million
Agents: Min Kim

731D Remuera Rd:
Features: 3-bedroom townhouse, 2 bathrooms, study, double internal-access garage
Outcome: no bid, back on market at $880,000
Agent: Alex Baker

Royal Oak

49 Turama Rd, unit 4:
Features: 2-bedroom 1970s brick & tile unit, internal-access garage
Outcome: passed in
Agents: James Yu & Danny Upton

St Heliers

10 Maxine Place, unit 3:
Features: 3-bedroom unit, 2 bathrooms, garage
Outcome: passed in
Agent: Bob Gordon

7 Walmsley Rd, unit 2:
Features: 130m² townhouse, 3 bedrooms, garage
Outcome: no bid, back on market at $1.289 million
Agents: Kelly Midwood & Hamish Hargrave

Isthmus west

Avondale

16 Highbury Avenue, unit 5:
Features: 2-bedroom 1960s unit
Outcome: passed in, back n market at $585,000
Agents: Anna Lechtchinski & Alex Wu

Blockhouse Bay

143 Donovan St:
Features: cross-lease, half share in 1020m², 3-bedroom house, carport
Outcome: no bid, back on market at $939,000
Agent: Kris Jamieson

Eden Terrace

Viscount, 33D(R) New North Rd:
Features: 110m², 2-level, 2-bedroom terraced apartment
Outcome: withdrawn from auction
Agent: Sue Saywell

Grey Lynn

497 Great North Rd:
Features: 3-level 4-bedroom terrace, 2 bathrooms
Outcome: sold post-auction
Agents: Cristina Casares

Mt Albert

22 5th Avenue, unit 4:
Features: cross-lease, quarter share in 1147m², 2-bedroom unit, carport
Outcome: sold for $715,000
Agents: Wendy Sadd & Michele Ballinger

65 Woodward Rd, unit 5:
Features: 2 bedrooms, carport
Outcome: sold for $718,000
Agents: Christine Wooding & Joanne Yu

Mt Eden

277 Mt Eden Rd, unit 3:
Features: cross-lease, 1/10 share in 1120m², 66m² 2-bedroom unit, garage
Outgoings: body corp levy $5000/year
Income assessment: $480/week, fixed until 30 December
Outcome: no bid, back on market at $695,000
Agents: Annie Xu & Sean Zhang

573C Mt Eden Rd:
Features: 243m² section, 209m², 4 bedrooms, 3 bathrooms, double garage
Outcome: no bid
Agents: Ricky Fan & Joyce Gu

584 Mt Eden Rd:
Features: 575m² section, 348m², 2-level townhouse, 5 bedrooms, 3 bathrooms, double internal-access garage
Outcome: passed in at $2.9 million
Agent: Helen Lam

Waterview

1594 Great North Rd, unit 2:
Features: cross-lease, quarter share in 1196m², 3-bedroom unit, garage
Outcome: no bid
Agent: Elvira Abdrazakova

North-west

New Lynn

6 Islington Avenue, unit 2:
Features: 184m², 4-bedroom duplex townhouse, 3 bathrooms, tandem internal-access garage (one space turned into a gym)
Outcome: no bid
Agents: Aken Yuan & Michelle Zhou

South

Mangere Bridge

16D Coronation Rd:
Features: 3-bedroom 1970s brick & tile unit, garage
Outcome: no bid
Agents: Danny Upton & James Yu

Attribution: Auctions.

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Auckland Plan refresh approved for consultation, 2 private plan changes to be notified

Auckland Council’s planning committee approved the revised draft Auckland Plan for formal public consultation yesterday.

A joint consultation on this plan and on the council’s 10-year budget, 2018-28, will open on 28 February and run until 28 March. The council’s governing body will approve the consultation document on 7 February.

The Auckland Plan, first adopted in 2012 and now reviewed for the second time, is the spatial plan that sets the direction for how, where & when Auckland will grow over the next 30 years.

Other planning committee business

Manurewa Takanini Papakura integrated area plan:

The committee endorsed the Manurewa Takanini Papakura Integrated Area Plan, which provides a planning framework to guide how the area develops over the next 30 years.

2 private plan change requests under new unitary plan

Otahuhu, King’s College, Mangere & Hospital Rds:

The committee agreed to publicly notify King’s College’s private plan change request to rezone 2 land parcels, one to the north-east of the main campus and the other to the south.

The private plan change will rezone land adjoining Mangere Rd from special purpose – school to terrace housing & apartment buildings, and land adjacent to Hospital Rd from terrace housing & apartment buildings and single house zones to special purpose – school.

Ellerslie, 614-616 Great South Rd, Goodman Property Trust:

The committee agreed to publicly notify Goodman Property Trust’s private plan change request to rezone 614-616 Great South Rd from business park to mixed use.

Link: Planning committee agenda 28 November

Attribution: Council releases.

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Warehouse sells at auction, but intensive residential sector mired in “no bids”

An Onehunga warehouse sale started Barfoot & Thompson’s regular weekly commercial & apartments auction on a strong footing yesterday, but the entire residential auction market has been much weaker for months.

The apartments segment of the Thursday morning auction saw 2 of the 7 cbd apartments sold under the hammer, one of them a certainty in an auction brought forward.

Over 2 days, of the 26 intensive residential properties I logged (including cross-leases at only one of 3 auction sessions), 7 were sold at auction and one shortly after. 8 attracted no bid, and 2 were withdrawn from auction.

The intensive segment of the market covers a wide spread of homes, from apartments in the city centre to houses on cross-leased sites in suburbia. The steadiest part of that market is the supply of traditional brick & tile suburban units, on either ground level or one up, usually with the parking that many apartments don’t offer, and with less likelihood of the horrendous costs incurred in remediation when leaks are discovered.

Commercial

Isthmus east

Onehunga

126 Captain Springs Rd:
Features: 1012m² site zoned heavy industrial, 402m² warehouse & office  
Outcome: sold for $1.353 million
Agents: James Marshall & Nick Wilson

Apartments

CBD

Federal St

18 Federal St, unit 2F:
Features: fully furnished one-bedroom apartment
Outgoings: body corp levy $3004/year
Outcome: passed in at $375,000
Agents: Elizabeth Khosravi & Hamid Farid

Learning Quarter

8 Airedale St, unit 202:
Features: one-bedroom apartment, balcony
Outgoings: body corp levy $1679/year
Income assessment: $300/week until 16 January
Outcome: no bid
Agent: Annie Xu

Silo, 23 Emily Place, unit 4C:
Features: one-bedroom apartment, balcony
Outgoings: body corp levy $2990/year, parking $829/year
Outcome: pre-auction offer $310,000 acceptable, sold for $320,000
Agents: Stephen Shin & Yasu Ka

Sapphire, 76 Wakefield St, unit 412:
Features: studio
Outgoings: body corp levy $1867/year
Income assessment: $300/week, fixed until February
Outcome: passed in at $202,000
Agents: Selina Zheng & Tommy Zhang

6 Whitaker Place, unit 11A:
Features: 85m², 2-bedroom apartment, 2 parking spaces, 2 storage lockers
Outgoings: body corp levy $8183/year
Income assessment: $650/week current, parking $65/week
Outcome: no bid
Agent: Sam Yang

38A Whitaker Place:
Features: 200m²-plus, 3-bedroom whole-floor penthouse apartment, 2 bathrooms, office, 3 balconies, 3 parking spaces, storage
Outgoings: body corp levy $14,035/year
Outcome: sold post-auction on an “as is, where is” basis
Agents: Carl Madsen & George Damiris

Uptown

132 Vincent St, unit 1F:
Features: 2-bedroom apartment, balcony, secure parking space
Outgoings: body corp levy $5605/year + $595/year for parking
Income assessment: $590/week fixed until April
Outcome: passed in at $675,000
Agent: Betty Shao

Victoria Quarter

Fiore, 152 Hobson St, unit 1206:
Features: 2-bedroom apartment, deck, parking space, storage locker
Outgoings: body corp levy $5235/year
Outcome: sold for $820,000
Agents: Selina Zheng & Tommy Zhang

Isthmus east

Ellerslie

10A Wilkinson Rd, unit 10:
Features: 2-bedroom unit
Outcome: withdrawn from auction
Agents: Rain Diao & Patsy Chen

Greenlane

18 Nolan Rd, unit 6:
Features: cross-lease, 1/7 share in 2567m², 3-bedroom home, 2 bathrooms, double garage
Outcome: sold for $1.305 million
Agents: Maria Lambert & Ann Mushet

Meadowbank

2 Cruickshank Crescent:
Features: cross-lease, half share in 764m² section, 2-bedroom duplex, carport
Outcome: passed in
Agents: John Yang & Sidney Chan

Onehunga

9 Clarke Rd, unit 1:
Features: 2-bedroom unit, carport
Outcome: sold for $738,000
Agent: Paul Hodgman

One Tree Hill

64 Rawhiti Rd, unit 6:
Features: 2-bedroom unit, internal access garage, storage
Outcome: passed in
Agents: Helen Lam & Wendy Sadd

89 Rawhiti Rd, unit 4:
Features: 3-bedroom unit, garage
Outcome: no bid, back on market at $1.195 million
Agent: Paul Hodgman

Remuera

Broadway Park, Ascot, 8 Middleton Rd, unit 202:
Features: 164m², 3-bedroom apartment, 2 bathrooms, patio, double garage, storage locker
Outgoings: body corp levy $8428/year
Outcome: no bid
Agent: Shirley Shen

St Heliers

Raeburn Court, 1 Cliff Rd, unit 2:
Features: 2-bedroom apartment, carport
Outcome: passed in
Agents: Wendy Sadd & Michele Ballinger

Raeburn Court, 1 Cliff Rd, unit 5:
Features: 2-bedroom garden apartment, carport
Outcome: no bid, back on market at $1.225 million
Agent: Karin Cooper

Isthmus west

Blockhouse Bay

7 Heaphy St, unit 2:
Features: cross-lease, 1/3 share in 1533m², 3-bedroom house, 2 bathrooms, internal-access double garage
Outcome: sold for $1.09 million
Agents: William & Simon MacLean

Freemans Bay

46C Beresford St:
Features: 3-level 3-bedroom townhouse, study, balcony, double garage
Outgoings: rates $2295/year including gst; body corp levy $2905/year
Outcome: no bid, back on market at $1.048 million
Agent: Shawn Shao

Grey Lynn

19 Maxwell Avenue:
Features: cross-lease, half share in 788m², 4-bedroom house, 2 bathrooms, offstreet parking
Outcome: passed in
Agents: Matt O’Rourke & Ryan Harding

Hillsborough

81 Hendry Avenue:
Features: cross-lease, half share in 898m², 5-bedroom house, 3 bathrooms, basement garage + offstreet parking
Outcome: no bid
Agent: Kelly Zhang

Mt Albert

71 Asquith Avenue, unit 1:
Features: 2-bedroom unit, carport
Outcome: passed in, back on market at $679,000
Agent: Kevin Liu

1 Hendon Avenue, unit 1:
Features: 3-bedroom unit, garage
Outcome: withdrawn from auction
Agent: Lily Wang

St Lukes

47 St Lukes Rd, unit 1:
Features: 2-bedroom unit, garage
Outcome: sold for $630,000
Agents: Scott Larsen & Fiona Ryan

Three Kings

14 Clinker St:
Features: cross-lease, half share in 1014m², 116m² 3-bedroom house, basement garage
Outcome: sold for $822,000
Agent: Cheryl Martin

North-east

Hillcrest

7A Almadale Place:
Features: cross-lease, half share in 908m², 3-bedroom house, double carport
Outcome: no bid, back on market at $859,000
Agent: Cheryl Martin

Attribution: Auctions & auction documents.

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6 units sell at Barfoot residential auctions

6 of 10 apartments, townhouses & suburban units auctioned at Barfoot & Thompson’s city office this week were sold under hammer.

They included one St Lukes apartment with remedial issues, sold at mortgagee auction.

CBD

Victoria Quarter

11 Nicholas St, unit 8C:
Features: 105m², 2-bedroom apartment, 2 bathrooms, balcony, tandem parking
Outcome: passed in
Agents: Stephen & Leo Shin

Isthmus east

Ellerslie

14 Arthur St, unit 3:
Features: 2-level 3-bedroom townhouse, patio, internal-access garage
Outcome: sold for $962,000
Agents: Neno Radinovich & Daniel Duan

Glendowie

119 Riddell Rd, unit 1:
Features: 2-bedroom unit, garage
Outcome: sold for $780,000
Agent: Andrew Pender

Greenlane

22G Aratonga Avenue:
Features: one-bedroom unit, deck, double garage
Outcome: no bid
Agent: Kanta Lala

Newmarket

Kings Square, 26 Remuera Rd, unit 602:
Features: 3-bedroom apartment, 2 bathrooms, balcony, 2 covered parking spaces
Outcome: sold for $1,023,500
Agents: Sam Leong & Wynne Wong

Isthmus west

Freemans Bay

5 Foundries Lane, 61 Wellington St:
Features: 81m², 2-bedroom townhouse, deck, offstreet parking
Outcome: no bid, back on market at $1.149 million
Agent: Neil Dayal

Mt Albert

St Lukes Gardens, 11 Morning Star Place, unit 1E:
Features: 2 bedrooms, balcony, 2 offstreet parking spaces, across the road from Westfield St Lukes mall; the building has remedial issues and further levies are contemplated, offered on an “as is, where is” basis
Outcome: sold at mortgagee auction for $278,000
Agent: Philip Davis

North-west

Kelston

9 Alston Avenue:
Features: 1167m² section, block of 4 2-bedroom units with carports, all on one title
Outcome: sold for $1.515 million
Agent: Rick Thevenard

Massey

62 Cyclarama Crescent, unit 2:
Features: 2-bedroom unit, deck, single carport
Outcome: sold for $601,000
Agents: Aaron Julian & Prasanna Kumar

New Lynn

126 Lynwood Rd, unit 1:
Features: ground-floor 2-bedroom unit, offstreet parking
Outcome: passed in, back on market at $465,000
Agent: Lisa Redgrove

Attribution: Agency.

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4 commercial leases in Auckland & Christchurch

Knight Frank agents have secured 4 commercial leases, 2 on the Auckland isthmus and 2 in Christchurch.

Leases

Isthmus east

Ellerslie

130B Main Highway:
Features: 70m² office, storage shed, 4 parking spaces
Rent: $25,000/year net + gst + opex      
Agent: Sophie Dixon

Mt Wellington

1066 Great South Rd, unit R:
Features: 75m² warehouse & amenities, 73m² mezzanine office, 2 parking spaces
Rent: not disclosed  
Agent: Scott Worrall

South Island

Canterbury

Christchurch cbd

137 High St, level 1:
Features: 100.8m² first-floor office, 63.4m² balcony
Rent: $31,971/year net + gst + opex      
Agent: Tom Lax

Halswell

3 Kennedy’s Bush Rd, ground floor unit 3:
Features: 45m² ground-floor office unit, parking space
Rent: $15,000/year net + gst + opex      
Agent: Campbell Taylor

Attribution: Agency release.

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4 of 10 apartments & units sell at Barfoots

4 sold out of 10 apartments & suburban units auctioned at Barfoot & Thompson’s city office yesterday & today. The auction offering of a total 20 homes on the agency’s main 2 days compares to 80/day at the peak late last year.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 2006:
Features: 48m², one-bedroom apartment
Outcome: sold for $592,500
Agent: Cindy Yu

Victoria Quarter

Hobson Gardens, 205 Hobson St, unit 2F:
Features: 158m², 3-bedroom apartment, 2 bathrooms, 2 basement parking spaces
Outgoings: body corp levy $5994/year
Outcome: no bid
Agents: Zoran Farac & Stephen Shin

Isthmus east

Ellerslie

2 Ellerslie Park Rd, unit 1:
Features: 2-bedroom unit, carport
Outcome: sold for $610,500
Agent: Linda Reid

Onehunga

15 Heretaunga Avenue, unit 4:
Features: cross-lease, 1/7 of 1604m², 2-bedroom unit, carport
Outcome: sold for $590,000
Agent: Paul Hodgman

132A Selwyn St, unit 2 (pictured):
Features: cross-lease, 1/4 of 1163m², 2-bedroom unit, covered patio, 2 parking spaces
Outcome: sold for $670,000
Agents: Jerry & Fong Khoo

St Heliers

244 St Heliers Bay Rd, unit 3:
Features: 3-bedroom unit, 2 bathrooms, internal-access garage
Outcome: passed in at $700,000
Agents: Andrew Pender & Lynette Boyd

Stonefields

Illico, 4 Bluegrey Avenue, unit 410:
Features: one-bedroom top-floor apartment, deck, parking space
Outcome: passed in at $520,000
Agent: Thelina Nuval

Isthmus west

Sandringham

16 Halesowen Avenue, unit 2:
Features: 2-bedroom unit, conservatory, basement garage
Outcome: passed in
Agents: Jim Liu & Coy Zhao

Attribution: Auctions.

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Slow, but a 61% success rate at auctions

Image above: The Oxford on Mount St – one apartment sold, one passed in.

It took auctioneer Murray Smith 30 minutes & much twiddling of his thumbs this morning before he banged his hammer down for the sale of one apartment. Next up, there were 3 bidders and a sale ensued in a few minutes.

In 5 sessions this week, auctioneers at Barfoot & Thompson’s city office put through 41 residential properties, 16 of them which I categorise as intensive (apartments, townhouses, suburban units – I wasn’t at all sessions and don’t know if any others were cross-leased).

A year ago, that would have been the throughput on a Wednesday or Thursday morning, so volume is well down.

But the sales ratio under the hammer this week was strong – 25 sold out of 41 homes offered, a 61% success rate. For the intensives, 9 sold out of 16 offered, a 56% success rate.

CBD

Albert St

Quay West, 8 Albert St, unit 1202:
Features: 74m², one-bedroom apartment, balcony, parking space
Outcome: sold for $695,000
Agents: Cici & Miro Wang

Commerce/Gore

HarbourCity, 16 Gore St, unit 28I:
Features: 38m², one-bedroom apartment
Outgoings: body corp levy $2851/year, $5099 special levy for leaks remediation
Outcome: sold for $279,000
Agent: Jason Buckwell

Federal St

207 Federal St, unit 506:
Features: 61m², 2-bedroom apartment, balcony
Outcome: sold for $536,000 at auction brought forward
Agents: Cici & Miro Wang

Learning Quarter

Celestion, 19 Anzac Avenue, unit 1002:
Features: 55m² apartment including balcony, 2 bedrooms
Outgoings: body corp levy $4536/year
Outcome: sold for $535,000
Agents: Zoran Farac & Leo Shin

Oxford, 13-15 Mount St, unit 4H:
Features: 34m² studio, deck
Outgoings: body corp levy $2147/year
Outcome: sold for $290,000
Agents: Leo & Stephen Shin

Oxford, 13 Mount St, unit 13F:
Features: 42m², one-bedroom apartment
Income assessment: $360/week current
Outcome: passed in
Agent: Yuyu Cao

Victoria Quarter

Marina Park, 146 Fanshawe St, unit 12:
Features: one-bedroom apartment, garage
Outcome: withdrawn from auction
Agents: Bella Stefano & Sherry Shao

Waterfront

Princes Wharf, 137 Quay St, unit 10:
Features: leasehold, 57m², one-bedroom apartment, balcony
Outgoings: 5-yearly ground rent review has been replaced with a fixed annual increase of 3% or CPI, whichever is greater
Outcome: no bid, back on market at $228,000
Agent: Anah Jordan

Isthmus east

Ellerslie

178A Ladies Mile:
Features: 3-bedroom standalone townhouse, deck, carport
Outcome: passed in at $730,000
Agents: Anna Stephens-Brown

Epsom

22 Rangiatea Rd, unit 3:
Features: 98m², 2-bedroom unit, garage, storage, 2-year-old roof, ceiling insulated
Outcome: passed in at $880,000
Agent: Helen Lam

Mt Wellington

51 Ireland Rd, unit 41:
Features: 2-bedroom terrace, study, carport, in gated complex
Outcome: passed in at $480,000, back on market at $560,000
Agent: Kevin Liu

Panmure

10B Allenby Rd:
Features: 2-bedroom upstairs end unit, garage, storage
Outcome: no bid
Agents: George Fong & Paul Sun

Parnell

28C Stanwell St:
Features: 2-bedroom garden apartment, 2 bathrooms, study, courtyard, 2 parking spaces
Outcome: sold for $775,000
Agent: Cindy Yu

St Johns

35 Simkin Avenue, unit 2:
Features: 2-bedroom unit, carport, basement workshop
Outcome: passed in, back on market at $698,000
Agent: May Long

Isthmus west

Mt Eden

14 Lovelock Avenue, unit 10:
Features: 2-bedroom apartment, balcony, parking space
Outcome: sold for $640,000
Agent: Prasanna Kumar & Aaron Julian

Waterview

1510 Great North Rd, unit 15:
Features: 88m², 3-bedroom apartment, 2 bathrooms, parking space, newly reclad & code compliance certificate issued in January
Outcome: sold for $380,000
Agents: David Dowse & Susie Calderwood

North-west

Henderson

16 Buscomb Avenue:
Features: 1033m² site, 3-bedroom house + 2 separate 2-bedroom units, all redecorated, new kitchens & bathrooms; house has basement garage, carport, storage; units have their own entrance from Sel Peacock Avenue, offstreet parking; zoned terrace housing & apartments
Outcome: sold for $1.771 million
Agent: Jim Murray

Attribution: Auctions, auction documents.

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6 intensive homes sell at auction but “no bids” raise questions

6 of the 10 intensive homes auctioned at Barfoot & Thompson’s city office yesterday were sold under the hammer.

Out of a total residential offering of 20 properties at 2 auctions, 8 were sold, so a strong outcome on intensive dwellings, weaker on standalone homes.

But the more interesting factor arose at the end of the second auction. Of the 7 properties, 2 had sold just short of $1.5 million, 2 had sold below $1 million, one was passed in, and remaining were a cross-leased townhouse at Bucklands Beach and a modest 3-bedroom standalone in Glen Eden. Neither attracted a bid, with the auctioneer closing after seeking a $550,000 start for the Glen Eden home.

In a short few months, the residential market has gone from overpricing enthusiasm to underpricing by neglect, the inability to finance at lower levels or exclusion of likely bidders by regulation.

CBD

Victoria Quarter

The Galleries, 23 Graham St, unit 26:
Features: 200m², 3 bedrooms, 3 bathrooms, study, balcony, 2 parking spaces, storage locker
Outcome: no bid
Agents: Louise Allan & Alex Allan

Isthmus east

Ellerslie

3 Ellerslie Park Rd, flats 2 & 3:
Features: 2 2-bedroom flats, parking space each
Outcome: sold for $1.16 million
Agents: Barry Saxon

Epsom

26 Orakau Avenue, unit 2:
Features: cross-lease, 1/3 share in 839m², 2-bedroom unit, garage
Outcome: sold for $951,000
Agent: Dee Brennan

Greenlane

24 Puriri Avenue, unit 4:
Features: 88m², 2-bedroom unit, internal-access garage
Outcome: sold for $860,000
Agents: Janice Hamilton-Cox & Philip Cox

Mission Bay

21A Comins Crescent:
Features: 3-bedroom townhouse, 2 bathrooms, courtyard, terrace, carport
Outcome: no bid
Agents: Alex Baker

Remuera

117 Grand Drive, unit 2:
Features: refurbished 3-bedroom townhouse, 2 bathrooms, 2 carport spaces, pool, bordering Waiatarua Reserve
Outcome: sold for $1.05 million
Agents: Stephen Rendell

Royal Oak

13C Raurenga Avenue:
Features: 419m² section, 4-bedroom townhouse, 3 bathrooms, double internal-access garage
Outcome: sold for $1.461 million
Agents: Frances Li & Ian Thornhill

North-east

Takapuna

9B Puriri St:
Features: cross-lease, half share in 1012m², 3 bedrooms, garage
Outcome: sold for $875,000
Agents: Will Gluestein

South

Bucklands Beach

119 Bucklands Beach Rd, unit 1:
Features: cross-lease, 1/5 share in 1618m², 4-bedroom townhouse, 2 bathrooms, internal-access garage
Outcome: no bid
Agents: Frances Li & Raymond Chan

Papatoetoe

81A Huia Rd, unit 1:
Features: 69m², 2-bedroom unit, tandem carport
Income assessment: $440/week current
Outcome: no bid
Agents: Neno Radinovich

Attribution: Auctions.

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Auction results, and a market assessment

Amid the noise over a decline in residential sales, it’s important to establish where that’s happening and in what types of market.

In Auckland, it was not at all surprising that a steep rise in prices should be followed by a decline, while Reserve Bank measures tightening borrowing have forced a further decline through the inability to borrow, and the absence of Chinese borrowers this year – compared to auctionrooms last year that were filled with Chinese buyers who appeared to have no limits – has taken further steam out.

The auction results presented below are from Barfoot & Thompson’s cbd apartments auction yesterday – 2 units, one sold – and from residential auctions on Tuesday & Wednesday.

Of the total 13 properties listed below, 8 sold, but the selection I’ve focused on is presented for the geographical mix as much as for the housing type.

Now that Auckland Council’s unitary plan is almost entirely in place, the real estate world has begun presenting more properties for their redevelopment potential, and many of those with such potential at lower prices are in isthmus fringe areas such as Point England & Glen Innes to the east, Mt Roskill & Mt Albert to the west. Unlike the regional fringes where new subdivisions are being developed – on the Hibiscus Coast to the north, across the top of the harbour to the west, and in a number of districts through old Papakura & Franklin to the south – these ones are close to the city centre, within 10km compared to beyond 25km or 40km.

On the isthmus, a house that was once in a bad neighbourhood can now command a price tag above $1 million, and all it’s done is age. Bad neighbourhoods could be defined as having a high state housing ratio, low-decile incomes, large families squeezed into small homes, poorer construction materials, and a general lack of foliage on sections and in streetscapes.

Those new price tags will force the old families out, and little is being created for them to move to. Those price rises in the bad neighbourhoods will also help lift already-soaring prices in the good neighbourhoods – the leafy areas of the eastern suburbs, for example.

Much of the entry-level housing is in cross-leased houses or mostly old brick-&-tile units. The prices for those can be as high as a modern product such as a 3-year-old GJ Gardner home (one in Mt Albert is listed below).

CBD

Learning Quarter:

Forte, 37 Symonds St, unit 505:
Features: 2-bedroom apartment, 2 bathrooms, deck
Outgoings: rates $1253/year including gst; body corp levy $3634/year
Outcome: sold for $540,000
Agents: Justin Choi & Zoran Farac

Longview, 6 Whitaker Place, unit 4D:
Features: 55m², one-bedroom apartment, deck
Outgoings: rates $1278/year including gst; body corp levy $3996/year
Outcome: no bid
Agents: Justin Choi & Stephen Shin

Isthmus east

Ellerslie

50 Amy St, unit 9:
Features: 3-storey townhouse, 3 bedrooms, carport
Outcome: sold for $785,000
Agent: Karin de Leeuw

Epsom

10 Orakau Avenue, unit 2:
Features: 2-bedroom townhouse, internal-access garage
Outcome: sold for $1.32 million
Agents: John Zhang & Louissa Bao

Glen Innes

52 Taniwha St:
Features: 837m² section, 3 bedrooms, study, garage, 4 offstreet parking spaces – in redeveloping Wai O Taiki Bay area bordering Glendowie, zoned mixed housing suburban
Outcome: sold for $1.09 million
Agents: Paul Neshausen & Sam Bowen

Mt Wellington

13A Wilkie Place:
Features: cross-lease, half share in 935m², 5-bedroom house – 3 bedrooms upstairs, separate & consented 2-bedroom flat downstairs with own entrance, carport, 2 offstreet parking spaces
Outcome: sold for $920,000
Agents: Jane Wang & Luke Shi

Stonefields

10 Robert Sale Rise:
Features: 354m² section, 235m² townhouse, 5 bedrooms, 3 bathrooms, 2 family rooms & separate lounge, double garage
Outcome: sold for $1.6 million
Agents: Frances Li & Ian Thornhill

Isthmus west

Mt Albert

60D Taylors Rd:
Features: 291m² section, 4-bedroom house, 3 bathrooms, family room, separate lounge, double internal–access garage, built 3 years ago by GJ Gardner
Outcome: sold for $1.36 million
Agents: Paul Donovan & Sharon Walls

Tremont Apartments, 4 Wagener Place, unit 409:
Features: top-floor apartment, 2 bedrooms, secure parking space
Outcome: passed in
Agents: George Fong & Laura Mc Auley

Mt Eden

706 Mt Eden Rd & 2A Watling St:
Features: 2 houses on 809m² corner section, each with own half-share cross-lease – 80m² 2-bedroom house on Mt Eden Rd, 140m² 3-bedroom house, double garage on Watling St
Income assessment: current rental expectation $1000-plus/week
Outcome: passed in when both offered together, no bid on Watling alone
Agents: Kelly Zhang & Hattie Liu

Mt Roskill

98 Melrose Rd, unit 3:
Features: 2-bedroom unit, carport
Outcome: no bid
Agents: Richard Han

North-west

Henderson

16 Matuhi Rise:
Features: 3-bedroom duplex, garage & workshop, carport, in-ground pool
Outcome: passed in, back on market at $649,000
Agents: Repeka Lelaulu & John Elgar

Te Atatu Peninsula

8 Celsmere Lane:
Features: renovated 2-bedroom house on 528m² section
Outcome: sold for $1.12 million
Agents: Angel Li & Louis Lai

Attribution: City apartments auction, auction documents.

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6 intensive units sell out of 15 offered at Barfoot auctions

One of 3 apartments on offer sold at Barfoot & Thompson’s specialist apartments auction on Thursday, another had sold at an auction brought forward to Monday, and a townhouse sold at mortgagee auction on Wednesday.

Then at the later Thursday auctions sessions, one apartment & 2 townhouses sold.

Those 6 intensive-property sales were among 15 sales out of 43 residential properties (including 2 sold prior & one withdrawn) on the agency’s city branch auction lists over Tuesday-Thursday.

Those auction lists for the 3 days compare with lists of 80 properties/day at the height of the market late last year & early this year. The success rate is well down and, although I can’t be sure of how far vendors have bent to achieve a sale on the day, I’m aware that many vendors have met the tougher market over the last few months.

CBD

Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 1612:
Features: 45m² internal, 13m² deck, 2-bedroom corner apartment, parking space
Outcome: sold for $660,000
Agent: Paul Studman

Connaught, 14 Waterloo Quadrant, unit 3F:
Features: 90m², 2-bedroom corner apartment, storage locker, parking space
Outcome: no bid
Agent: Casey Chen

Shortland St

Shortlands, 5C/97 Shortland St, unit 5C:
Features: 54m², one-bedroom corner apartment, balcony
Outcome: sold for $537,500
Agents: Sarah Garlick & Estee Zeng

Uptown

Eclipse, 156 Vincent St, unit 11J:
Features: 41m², fully furnished one bedroom
Outgoings: rates $1215/year including gst; body corp levy $3556/year
Outcome: passed in, back on market at $415,000
Agents: Selina Zheng & Tommy Zhang

Waterfront

Princes Wharf, 137 Quay St, shed 19, unit 21:
Features: leasehold, one bedroom, deck, parking space
Outcome: sold at pre-auction on 3 July
Agents: Ian Waddams & Donna Rugay

Isthmus east

Ellerslie

10 Hawthorne Place, unit 1:
Features: 2 bedrooms, deck, carport
Outcome: sold for $725,000
Agent: Nick Lyus

19 Robert St, apartments 1 & 2:
Features: 4 bedrooms in 2 apartments in villa, 2 bathrooms, separate lounges, carport for 3 cars + 3 offstreet parking spaces
Outcome: no bid, back on market at $1.385 million
Agent: Steve Hood

Epsom

39 Onslow Avenue, unit 3:
Features: m², 3-bedroom townhouse, 2 bathrooms, deck, carport
Outgoings: rates $/year including gst; body corp levy $/year
Income assessment: $/week
Outcome: sold for $1.453 million
Agents: Sara Knight & Vern Hines

Newmarket

Mosman, 4 Sarawia St, unit 1:
Features: 80m², ground-floor end unit, 2 bedrooms, carport
Outcome: no bid
Agent: Liz Derbyshire

Remuera

71 Ngapuhi Rd, unit 2:
Features: 3-bedroom unit, deck, garage
Outcome: no bid, back on market at $829,000
Agent: Jason Li

78 Waiatarua Rd, unit 2:
Features: 2-bedroom garden unit, garage + utility room
Outcome: no bid
Agents: Stanley& Barbara Armon

St Heliers

30K Tarawera Terrace:
Features: 134m², 2-bedroom penthouse apartment, balcony, tandem garage + guest parking
Outcome: no bid, back on market at $875,000
Agent: Kelly Midwood

3 Walmsley Rd, unit 3:
Features: 2-bedroom unit, basement garage, carport
Outcome: no bid, back on market at $785,000
Agents: Margot Torrance & Lynette Boyd

St Johns

20 Simkin Avenue, unit 1:
Features: 100m², 2-level 2-bedroom townhouse, plus basement, deck
Outcome: sold at mortgagee auction for $120,000
Agent: Philip Davis

Attribution: Agency.

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