A gorgeous Grey Lynn home that was sat just 200m from Ponsonby Road has sold for a huge NZ$2,670,000 under the hammer – more than NZ$500,000 over CV at 19 Rose Road (above).
The result was the latest in a string of outstanding results as demand continued to outstrip supply as the seller’s market continued to reign supreme.
Ray White New Zealand Lead Auctioneer John Bowring (below) said competition for property was going beyond anything he had ever seen – there were 100 people on-site for this one.
“The auction room is now a place of real competition with the vast majority of properties attracting multiple buyers and that’s pushing prices up for vendors,” Mr Bowring said.
“What we’re seeing now is savvy vendors spotting just how strong the market really is and deciding to list their property now – and there’s no doubt they’re being rewarded for that.”
The property at 19 Rose Road in Grey Lynn was marketed and sold by Ray White Kingsland Salespeople Tim Hawes and Mark Prunty.
“It’s quite staggering when you look at the figures for this property – we had over 18,000 views online and more than 250 people through during the opens,” Mr Hawes said.
“That translated into eight registered bidders on the day, six of whom actively competed, and that drove the price way above and beyond the CV for the property. We had five people miss out so they’re now out there actively looking for homes to buy.
“The strength of the market isn’t discriminating against anyone. We had young couples, families and downsizers all looking at this one.
“There were just so many buyers coming through. It was super popular because of location and the fact there really was nothing to do to it. It also carried a huge amount of future potential.”