The Star: March 02, 2023

The Star Thursday March 2 2023
4
NEWS
Latest Canterbury news at starnews.co.nz
HAMMER TIME:
Properties sold at
auction include
Leacroft St, Bishopdale
(left), a lifestyle
property on Quaifes
Rd, in Halswell (right),
and Knowles St, in
Merivale, which sold
for $3.05m.
Buyers battle at
house auctions
•From page 1
The five-bedroom, twobathroom
renovated home is on
934sqm and in a “magical hill
setting”.
Other homes sold included
Leacroft St, a fully-fenced threebedroom
house in Bishopdale,
which opened at $500,000 and
sold for $656,000.
A big five-bedroom semi-rural
property with a swimming pool
on George Noble Rd, Yaldhurst,
sold for $1.62m, and a threebedroom
home on Highsted
Rd, in Casebrook, opened at
$450,000 and sold at $627,500.
Kennedy said auctions
prioritises people who are cash
and unconditional buyers.
He said about half of Harcourts
Gold listings go to auction with a
50-55 per cent clearance rate on
the day and in what they call the
“mop up” another 25-30 per cent
are under offer or sold, making
the auction arena success rate
around 75-80 per cent.
“Last year, our calendar year,
our clearance rate across auctions
was 82 per cent so when you look
at it from that perspective you’re
giving yourself a pretty good
chance of selling and getting a
result.”
The market is not as strong as it
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was in 2020 and 2021 but
it’s still a good market, he said,
with a mix of first, second and
third-home buyers as well as
investors.
There may always be some
owners who would have liked
more for their property, they
know at auction they get a cash,
unconditional buyer so have the
certainty to be able to move on
with their plans.
Connor Patton, Bayleys
head auctioneer, said the
company also last week was also
good in with seven out of 14
properties selling.
“That was the same as the
week before, we’ve been running
at about 50 per cent for the last
couple of weeks and auctions
have been performing relatively
well there.”
There were several auctions
with multiple bidders across price
points, including a property on
Knowles St, in Merivale, where
two bidders took the price up to
$3.05m.
That kind of price is
becoming more common for
Christchurch but not as common
as in Auckland and the money
certainly goes further in the
southern city, Patton said.
“That was in a nice area
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in Merivale, it was a 357sqm
lovely home.”
Another property in Halswell
had five or six bidders fighting for
the four hectare lifestyle property
with two dwellings on Quaifes
Rd, which sold for $1.76m.
“It was a four-hectare block and
it was next to an area that’s been
developed quite a lot for sections
and things, so there was two nice
properties on it but arguably a
land-bank for future with the
development in that area, so that
proved popular for sure.”
•$1 mansion with a catch, page
10
– NZ Herald
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