Hot Bidding For Apartments

Plenty of buyers at City Sales auction of larger style apartments but leasehold units struggle

August 20, 2014 – 03:42pm,
Greg Ninness

Longview Apartment sold $393.000     

Buyers were out in force at this week’s fortnightly apartment auction at City Sales’ Auckland rooms, but a leasehold terrace house in Parnell sold for a third of its previous sales price.

Most of the properties put up for sale this week were of a size and type that would appeal to owner-occupiers as well as investors, and potential buyers were not shy in their bidding.

The most hotly contested property was a two bedroom unit in the Longview complex in Grafton which had six bidders chasing it, eventually selling under the hammer for $393,000.

Four out of the six properties offered sold under the hammer including an apartment in the character George Courts building on Karangahape Rd, which sold at a significant premium to its original purchase price.

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