Latest News
April 2009
Friday, April 24, 2009
The first quarter of the year is now with us and what a change from last year over the same period. 70% of our sales have all had multiple offers and whilst the other 30% only had one, in all instances our owners have been delighted with the results.
AUCTIONS
Two of our recent auctions have had an incredible result for our clients. 33 Duthie Street, Karori, had been in one family for approximately 45 years and whilst the home required refurbishment it was on a large private section of 1,500m². Over 50 people attended the auction with nine parties there to try and buy it. Extremely spirited bidding resulted in a sale price of $905,000 (Rating Valuation $760,000).
15 Seaview Terrace, Northland, had been in a family for 100 years and had had little or minimal maintenance during that time. Over a three week marketing period approximately 250 parties viewed the property and on auction day there were 21 different groups there to bid. It sold with very spirited and intense bidding for $691,000 (the Rating Valuation was $520,000).
Footnote
The real estate market over the last 12 months has received almost daily bad news from the press. They have an obsession with trying to talk the market down. I tried to get the media to attend the auction at 15 Seaview Terrace, Northland, which I thought was a great story - a home first time offered for sale, massive interest, huge crowd at the auction, an amazing result ... but to no avail. A beauty pagent in Levin, and Dame Kiri's retirement fund seemed to take precedent. It make you think "What is their real agenda?".
- Ian Paterson
