The cheapest home at Bayleys' latest auctions went for $636,000. Yields on commercial properties get down to 3.49%

What three quarters of a million dollars looks like in Auckland. This house sold for $746,000.

The cheapest property sold at Bayleys latest Auckland auctions was an apartment in the CBD that went for $636,000.

It was the only property to sell for less than  $700,000.

The next cheapest homes to sell were a basic house at Northcote that was described as a renovator’s dream, which went for $746,000, and another at Massey in west Auckland that fetched $765,000.

It seems even homes that would normally have been considered suitable for first home buyers in Auckland are now selling for around the three quarters of a million dollars mark.

The most expensive sale of the week was a house at St Heliers that went for $3.265 million.

Bayleys also auctioned a string of commercial properties during the week, and investors were prepared to accept extremely low yields on some of them, with a couple of shops at St Johns providing their new owner with a net yield of 3.49%.

Yields on others were in the 5-6% range.

To view the full range of residential and commercial property sales results, with details and photos of all properties including those that didn’t sell, click on the property tab located under the banner at the top of this page and select “Auctions/Sales Results” from the drop down menu. The page is interactive and allows you to search for properties by type, location and agency.

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