Upmarket homes or those with development potential selling most readily at auction

The Quest Hotel building on Queen St in Auckland’s CBD.

Bayleys Real Estate sold 13 of the 29 Auckland residential properties up for auction last week, giving a sales success rate of 45%.

That left 14 that were left to be sold by negotiation and two that were withdrawn from sale.

At Bayleys’ Hamilton auction three of the six properties on offer were sold.

The Auckland sales included a couple of properties with development potential.

One was a house on an 828 square metre section in the apartment and terrace housing zone at Royal Oak that went for $1.82 million, the other was an 829 square metre section in Papatoetoe which had two houses on it, each with its own garage, which fetched $1.08 million.

Most of the properties that sold were in the middle to upper end of the market, although what was described as a spacious two bedroom apartment in central Howick went for $683,000, and a one bedroom apartment under hotel management in the Quest building (pictured) on Queen St in the CBD sold for $286,500.

It was also the upmarket homes that were selling at the Hamilton auction, with a house on a 1634 square metre section near the Waikato River selling for $1.146 million and a 330 square metre house overlooking Hamilton Lake fetching $1.34 million.

At the same auction a 77 hectare dairy farm at Matamata sold for $5.92 million.

The full results from both auctions, with photos and descriptions of all properties, including those that didn’t sell, are available on our Auction Results page.

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