Auction Shows Market in Full Bloom for Capital

MEDIA RELEASE
05 October 2005

Successful Auction Shows Market in Full Bloom this Spring for Capital

If the successful auction of four Wellington properties is any indication, Harveys Wellington is set for a strong spring.

The auction, which attracted more than 80 people, filling a large auction room with bidders spilling out onto the street realised $2.335m which Real Estate Matters Principal, Catherine Kennedy says exceeded expectations.

The properties offered a diverse selection, attracting a range of interest from investors to first, second and third time home buyers.

“The atmosphere was very buzzy with spirited bidding for all properties,” she says.

Top price of $1.025m was achieved for a property in Ellice Street, Mt Victoria. The property features two houses on the one title and is located close to the city. After some negotiation it was sold to the highest bidder, a young Wellington couple.

The couple who bought the property will probably turn the 6 bedroom house into two flats, and keep the 4 bedroom one as it is.

All four properties were in prime locations which are always in high demand, being either near to the city or sea or having sea views. The other properties up for auction were a 2 bedroom cedar cottage with picturesque sea views in Melrose; another seaside property in Seatoun, and a 4 bedroom character villa in Kilbirnie.

ENDS

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