Apartment Sales Get Stronger

Published 24 August 2011
Bob Dey Report
CBD apartment sale numbers are returning to the pre-global financial crisis level of 2007, says City Sales principal Martin Dunn.

Mr Dunn was speaking after City Sales sold 6 units – 4 in the cbd, 2 suburban –under the hammer at its regular auction today.

Sales in the secondary market in the cbd peaked at 150/month in 2007 then declined to about 80-90/month for most of the next 4 years, bottoming at 67 in 2009. But Mr Dunn said the level had been rising this year, reaching 139 in June.
Auction results:

Queen St Valley

Manhattan, 105 Albert St, unit 10G, 42m² fully furnished corner one bedroom, rates & operational levy $4621/year, rent $400/week, passed in at $186,000 (Steve Kirk & Grant Elliott)

Learning Quarter

Eden Crescent, 36 Eden Crescent, unit 901, 38m² 2 bedrooms, 2 bathrooms, deck, rates & operational levy $5095/year, rent $350/week, sold for $162,000 (Mike Campbell)

Metro, 82 Wakefield St, unit 10G, 26m² fully furnished studio, deck, rates & operational levy $3576/year, rent $250/week rising to $270/week from 30 September, sold for $115,000 (Hilary Seagrave & Tony Kelly)

Princeton, 30 Symonds St, unit 4H, 27m², 2 bedrooms, communal facilities, rates & operational levy $4733/year, rental assessment $300-330/week, sold for $100,000 + gst (Andrew Bond & Wendy Feng)

Pullman, 6 Princes St, room 358, 70m², fully furnished one bedroom, deck, rates & operational levy $8104/year, rental assessment $500/week to April 2012, sold for $301,000 (Wendy Feng)

Isthmus west

Freemans Bay, 21 Hargreaves St, unit 4G, 74m² 2 bedrooms, deck, 2 parking spaces, rates & operational levy $5512/year, sold for $325,000 (David Hamlyn)

St Lukes, 19 Morning Star Place, unit GD, 80m² 3 bedrooms, deck, parking space, rates & operational levy $4549/year, sold for $310,000 (May M<a & Mark Li).

http://www.bdcentral.co.nz/afa.asp?idWebPage=8338&idBobDeyProperty_Articles=16594&SID=450234148

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