Last Friday saw a new record set for an uninsured property in Christchurch’s north-east with the sale of 7 The Belfry for $860,000.
The auction for the architecturally designed and Metzger-built luxury home was brought forward after the owners received an acceptable pre-auction offer of $645,000.
With a full auction room and five active bidders, the sale price quickly rose to the final figure. After securing an extra $215,000 in the space of less than ten minutes it goes without saying our owners are really going to enjoy their upcoming holiday! The property’s 2013 rateable value was $720,000.
The 283sqm family home was situated on the boundary of the local golf course and just minutes from the shores of Waimairi Beach. Exhibiting a mere 42mm in differential settlement, the property was deemed a repair by the owners’ insurer. The property’s enviable location, coupled with its barely noticeable damage meant the property attracted a good cross-section of interest from tradespeople and owner-occupiers. The successful purchaser, a local, intends to repair the property to an insurable standard and move in with his family.
Our owners, who plan to build in Clearwater, were approached several times to sell privately before taking their home to the market. Clearly their decision to engage Harcourts and utilise the auction process paid dividends.
Days on market: 11
Open homes: 5
Active bidders: 5
Views on Trade Me Property: 2860
Views on Harcourts.co.nz: 1501
Trade Me watchers: 128
The proposed Highfield Park Subdivision (Source: Stuff.co.nz)
With the onset of two substantial residential developments in the north and north-east of the city – Highfield Park and Prestons – I think as locals we can look forward to the exciting opportunities and the momentum this unprecedented growth will bring with it. It is the obvious space for the city to expand its borders and with the lifestyle Mecca that the east provides, prospective purchasers will need little further enticement. I may have to get used to sharing my mountain bike tracks and the open space that Bottle Lake Forest and the shores of Waimari Beach provide though!
One of only a few new developments on the northern side of Christchurch City, the Highfield area will progressively release 2,200 home sites. Our sites will be sold with a focus on complete land and building packages, tailored to your budget.