Buyers are still active but they didn’t have a lot of choice at latest apartment auctions

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This apartment in the Grand Chancellor building sold for $590,000.

There wasn’t a lot on offer but just about everything sold under the hammer at this week’s main Auckland apartment auctions.

At City Sales a 77 square metre, two bedroom apartment with a balcony and car park in the Newton Rise building on Newton Road attracted bids from several potential buyers, but the bids remained within a fairly narrow range, opening at $500,000 and reaching $555,000.

But that wasn’t quite enough to get a sale across the line and it was passed in, for negotiations to continue post-auction.

There was also just a single offering at Barfoot & Thompson’s regular apartment auction, a two bedroom penthouse unit (47 square metres) with a car park in the Imperial Gardens building on Hobson St.

The building has remediation issues and there was only one bidder for the unit but that that’s all that was required and it was sold under the hammer.

At Ray White City Apartments three units were on offer; a 57 square metre, one bedroom unit with city views in the Grand Chancellor building on Hobson St, a 54 square metre, one bedroom unit in the Montepellier building in Eden Terrace and 41 square metre, one bedroom, leasehold unit in the Lighter Quay complex on Halsey St.

There was competitive bidding on all three properties and they all sold under the hammer.

That was the second week in a row that Ray White City Apartments has had a 100% sales clearance rate at their auctions.

Overall auction activity remains subdued at the moment but buyers are still about and sales are being made provided vendors have a realistic view of where the market is at.

Details of the properties offered and prices achieved at all three auctions are available on our Residential Auction Results page.

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