Property editor of the NZ Herald

Greenlane do up fetches $500k above valuation

Photo / Thinkstock
Photo / Thinkstock

Buyers in Greenlane and Kingsland are paying top dollar for houses.

A Greenlane property with a $1.4 million QV valuation fetched $1.9 million, leaving disappointed buyers shaking their heads in disbelief.

Three Kingsland houses have also sold for much more than their CVs.

Barfoot & Thompson sales agent Diana Buczkowski said 30 Aratonga Ave on the corner of Wheturangi Rd fetched more than buyers had indicated.

The bungalow sold at auction, and the deal is due to settle next month.

Buyer feedback had predicted the house might sell for $1.7 or $1.8 million, Ms Buczkowski said, although people were being more cautious after media coverage of high house prices, particularly around Epsom.

One disappointed house hunter said she was astonished by the high price because the property needed a huge capital investment, particularly in bathroom areas.

"We walked out of the open home. It's a complete do-up. It's got no real backyard and it's not positioned well on the site," she said.

The agent dismissed criticism, saying there were good reasons for the price: the big, flat section, the location in good school zones and proximity to Cornwall Park.

Wheturangi Rd houses are fetching $1.7 million "and although these might have Greenlane postal addresses, it's Epsom Grammar zone".

"It's a pocket that's very sought-after".

Barfoots agent Garry Lane said Kingsland was popular for many reasons and some of the houses sold were really well presented.

He cited the four-bedroom home at 60 Second Ave with a CV of $830,000 that sold for $1,050,000, which, he said, was one of the higher prices lately.

Mr Lane said the two-bedroom 15 First Ave home, with a CV of $740,000, fetched $905,000, mainly because it was so appealing to buyers.

- NZ Herald

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