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  1. #1
    Join Date
    Sep 2013
    Location
    Auckland
    Posts
    3,885

    Default O boy... this could be boom of all booms!!!

    Auckland property market in full boom.

    Two bedroom unit at 4/11 Preston Ave, Mt Albert...

    Sold for... wait for it....

    $797,000 ! ! ! ! !

    www.barfoot.co.nz/542777

    https://www.youtube.com/watch?v=ZvM26yXFnoY

    PS: The sleepout inside the garage is illegal... and not in Gladstone Primary zone... oh and Housing New Zealand occupying the end of the cul-de-sac


  2. #2
    Join Date
    Dec 2007
    Posts
    887

    Default

    Just took a look at the comparable sales and I would have picked Mid $600s. There was a house nearby on a full section that went for less than this.

    Did you get a glance at the buyers?

  3. #3
    Join Date
    Sep 2013
    Location
    Auckland
    Posts
    3,885

    Default

    Quote Originally Posted by AMR View Post
    Just took a look at the comparable sales and I would have picked Mid $600s. There was a house nearby on a full section that went for less than this.

    Did you get a glance at the buyers?
    I wasn't at the auction, just heard from my barfoot agent/friend.

    I asked but he didn't say, but I assume the buyer is Chinese.

    No other nationality is that rich and crazy at the same time!

  4. #4
    Join Date
    Sep 2011
    Location
    Dunedin
    Posts
    1,675

    Default

    here is what that would buy in Dunedin........http://www.trademe.co.nz/property/re...-878217663.htm

  5. #5
    Join Date
    Sep 2013
    Location
    Auckland
    Posts
    3,885

    Default

    Update from a friend who attended the auction:

    9 to 10 bidders.

    Half are Chinese/asian looking

    In the end, a middle aged white European looking fella bought it.....

    Must be crazy oil rich Russian huh?

  6. #6
    Join Date
    Jun 2013
    Posts
    2,102

    Default

    If it can't go on forever, it will end.

  7. #7
    Join Date
    May 2008
    Posts
    3,558

    Default

    We'll probably be dead before the current Auckland property surge comes to an end.

  8. #8
    Join Date
    Feb 2015
    Posts
    129

    Default

    ...bankrupt New Zealand property investors and traders will line the streets ...and head for the Southern provinces..

  9. #9
    Join Date
    Oct 2011
    Location
    1/18 Seaview Road, Paraparaumu Beach
    Posts
    267

    Default

    Wow thanks for sharing that Gary, that really sums up the craziness of it all. Why don't all the retired people cash up and leave Auckland with money in their pocket! That would also help solve the housing shortage! :-)
    Craig PopeCraig Pope Mortgages & Insurance
    www.craigpope.co.nz

  10. #10
    Join Date
    Jun 2004
    Posts
    10,364

    Default

    There may be a shortage of supply but that doesn't mean people have to act crazy.


 

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