Record sale prices are being reported in the NZ Herald on an almost daily basis and several of these articles have mentioned ex-state style homes that have been sold in the Auckland city area. They are keenly sought after as they are usually built from native heart timber and offer a solid alternative that is preferred by the majority of buyers over the abundance of modern monolithic and plaster clad homes that seem to be labouring on the market.
This original ex state at 58 Wainui Ave sold for $850,000 – well above expectations:
The NZ Herald reported:
The auction of a state house in Pt Chevalier has stunned buyers and taken the auctioneer aback – but appears to be a windfall for the taxpayer. One house-hunter said it needed a complete do-up and although it was big, the developer who out-bid the crowd could not be matched.
QV shows the house was owned by Housing New Zealand but no previous sales history was available, indicating it had been in the state’s hands since it was built in the 1930s.
Mark Sumich of Sumich Real Estate admitted the property sold for slightly more than he expected. “Expectations were a little below that,” he said of the end price. “The CV was $740,000 and we always thought we’d do better than that. There would have been about 50 people at the auction and six people bidding. I thought it was in the $700,000s.
This example at 10 Te Puna St in Orakei sold for $1,450,000 – 45% above it’s 2011 CV:
The NZ Herald reported:
Ross Hawkins, of Sotheby’s International, sold the property and said he could not think of another former state house that sold for more.
“It would be up there, absolutely. Maybe there’s some with pools and the full makeover and additions that could possibly come into the higher-priced bracket. But this wasn’t majorly modified. It’s got a new kitchen and bathroom but apart from that, it was pretty much as it was.
The house had been in private hands for many years. Buyers were keen on such solid little houses, frightened off by the rotting homes disaster and so many leaky homes for sale, he said. “These are solid houses, built out of native timbers and very well built. People are scared by leaky building problems and if they buy one of these, it’s a good solid home.”
The Puna St house stands on a 1037sq m section which Mr Hawkins said would let a second house be built without blocking sea views for either place. The high price left five to six buyers out in the cold, he said.
This ex-state at 37 Miller St, Pt Chevalier has undergone an incredible transformation:
This is a home that has that special X-Factor that many buyers are seeking and the successful bidder will be able to move in knowing they can sit back, relax and enjoy as all the hard work has been done. It now offers 4 bedrooms, ensuite and stunning open plan living space that flows out through massive sliding doors to the wraparound northwest facing deck. Large double garage with drive through area for parking a boat or trailer and all sited on a large full landscaped section.
The market will set the pace at the auction which is to be held on-site on the 20th May 2012. Open homes are Sat/Sun from 2.15-3pm.
View the full interactive floorplan and photos online here
May 04 2012 11:17 pm | Uncategorized