'A little bit of a gap between buyers and sellers' at latest Auckland apartment auction

An apartment in the Aura building sold for $385,000.

Only two of the six apartments offered at this week’s Ray White City Apartments’ auction were sold under the hammer.

There was a reasonable turnout from potential buyers and there was competitive bidding on the first two units offered, a two bedroom unit in the Zest building on the corner of Queen St and Mayoral Drive, and another two bedroom unit in the Aura building on Cook Street. Both were sold under the hammer.

The next offering was a reasonably spacious two bedroom unit with good views in the Oxford building on Mount Street near the Symonds Street ridge, which could have appealed to owner-occupiers or investors.

However when no bids were received the auctioneer opened with a vendor bid of $750,000. And when no further bids were received it was passed in for sale by negotiation.

The next three apartments were also passed in, although two of them attracted competing bids, but not enough to get them across the line.

“We are starting to see a pattern here with a little bit of a gap between the buyers and sellers,” one of the agents present said.

To see the full results of the auction with details of all properties and the prices of those that sold under the hammer, hover your cursor over the Property tab just under the banner near the top of this page and select “Auction/Sales Results” form the drop down menu, or simply click on this link.

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