City Sales' Auction Success Rate Hits 100%

Auction activity has continued to warm up in the Auckland CBD, with City Sales hitting the 100% mark last month, with, as Scott Dunn says, “Some of the most competitive bidding we’ve seen in a long while. Our auction success rate stands at 74% for 2020 so far, which is very good.”

The City Sales website reported it as follows, “Competitive bidding meant a 100% clearance rate at this week's City Sales apartment auction There was a small crowd at this week's City Sales auction of Auckland apartments but they meant business and all four properties on offer were sold under the hammer, including an apartment in a leaky building.

City Sales director Martin Dunn said a feature of the market over the last few weeks had been a pick-up in buying interest from owner-occupiers while investors were tending to be more cautious.

See below for the full results of this week's auction:

• 312/9-17 Byron Ave, Takapuna. Spencer on Byron building. A 50 square metre, one bedroom unit with car park, leased to the hotel operating from the building. This was a mortgagee sale of a unit in a leaky building. Sold for $216,000. According to QV.co.nz the unit had been purchased for $220,000 in 2002. The agent was Gabrielle Hoffman.
• 303/76 Wakefield St. Sapphire building. A 37 square metre, one bedroom furnished unit. Rented at $345 a week. Sold for $271,000. Rates were $1039 and the body corporate levy $2837. According to QV.co.nz the unit had been purchased for $210,000 in 2005. The agent was Chris Bell.
• 1112/10 Waterloo Quadrant. The Quadrant building. A 41 square metre, two bedroom unit with balcony. Vacant. Sold for $425,000. Rates were $1356 and the body corporate levy $5070. The agent was Maryanne Wong.
• 15/3 Ngahura St, Eden Terrace. A 72 square metre, two bedroom unit with balcony and tandem car park, in a building immediately adjacent to the railway tracks. Vacant. Sold for $445.000. Rates were $1265 and the body corporate levy $2787. According to QV.co.nz the unit had been purchased for $273,500 in 2008. The agents were Jake Hayward and Iona Rodrigues. 

For more information on real estate agents Auckland, rental property management and buying apartments Auckland please go to http://www.citysales.co.nz .