The Beat Goes On..

Bob Dey Report Published 24 May 2012

An auction room buzz is something to behold, especially when $100 bids are flying across the agency’s foyer, an agent is trying to converse simultaneously with a client on the phone in Mandarin and the auctioneer in English, and there are 4 other bidders.

The rapidfire bidding began on the first property out of 9 offered for sale today at Ray White City Apartments and continued for most of the 90-minute auction, which ended with 8 properties sold and one passed in with a vendor’s bid.

The first 2 units up for sale, studios on different floors of the Forte Apartments building on Symonds St, saw quite different outcomes – an extra 4m² of internal space & $15/week in rent translated into a $21,400 difference in sale price.

Unlike many auctioneers, Ted Ingram is flexible about dropping to low bids. For the third property auctioned today, a mortgagee sale, offers dropped to $100 at a quite early stage but finished in $1000 raises. This unit was on the market at $95,000, but 2 buyers added another $46,000 to the price before one gave up – an increase of 50%.

The sale chances of a unit in The Statesman, across Parliament St from the back of the High Court, were improved with the announcement that the body corporate had reached a $1 million settlement with the development’s builder, Multiplex, over balustrade repairs.

Auction results:

Mt Eden, 94 Dominion Rd, unit 1H:
Features: 71m², 2 bedrooms
Outgoings: rates $1213/year including gst; body corp levy $3711/year
Income assessment: no details
Outcome: sold for $300,000

Newton, 42 St Benedicts St, unit 23:
Features: 70m², vacant 2 bedrooms, 2 parking spaces
Outgoings: rates $/year including gst; body corp levy $2012/year
Income assessment: no details
Outcome: passed in at vendor’s bid of $340,000

Learning Quarter:

Columbia, 15 Whitaker Place, unit 18H:
Features: 42m² student hostel unit, 3 bedrooms, parking space, mortgagee auction
Outgoings: rates $1321/year including gst; body corp levy $4660/year
Income assessment: subject to existing management lease agreement
Outcome: sold for $141,000

Forte, 37 Symonds St, unit 1305:
Features: 24m², furnished one bedroom, 4m² deck, under Charta Management Ltd agreement for further 12 months from settlement
Outgoings: rates $1188/year including gst; body corp levy $2742/year including gst
Income: $290/week fixed until February 2013
Outcome: sold for $132,600

Forte, 37 Symonds St, unit 1006:
Features: 28m², furnished one bedroom, 4m² deck, under Charta Management Ltd agreement for further 12 months from settlement
Outgoings: rates $1196/year including gst; body corp levy $2826/year including gst
Income: $305/week fixed until March 2013
Outcome: sold for $155,000

The Quadrant, 10 Waterloo Quadrant, unit 2101:
Features: 41m², 2 bedrooms, secure parking space
Outcome: sold for $267,500

The Statesman, 1 Parliament St, unit 406:
Features: 43m², one bedroom, deck
Outgoings: rates $1340/year including gst; body corp levy $3418/year
Income assessment: $400/week
Outcome: sold for $278,000

Quay Park

The Docks, 6 Dockside Lane, unit 521:
Features: leasehold, 72m², unfurnished 2 bedrooms, 2 bathrooms, secure parking space
Outgoings: rates $1909/year including gst; body corp levy $2502/year
Income: $500/week fixed until July
Outcome: sold for $180,000

Victoria Quarter

Zest, 72 Nelson St, unit 501:
Features: 48m², furnished 2 bedrooms, 2 bathrooms
Outgoings: rates $1223/year including gst; body corp levy $2864/year
Income assessment: $360/week current, appraisal $380-420/week
Outcome: sold for $196,500

source: Bob Dey Report

Posted in News & Articles | Leave a reply

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>