Property editor of the NZ Herald

Solid but modest former state house sells for $1.45m

An ex-state house at 10 Puna Street, Orakei, sold for over $1m. Photo / Natalie Slade
An ex-state house at 10 Puna Street, Orakei, sold for over $1m. Photo / Natalie Slade

A humble, relatively unmodified former state house has sold for $1.45 million - 45 per cent above its rating valuation.

Ross Hawkins, of Sotheby's International, sold 10 Puna St in Orakei, and said he could not think of another former state house that sold for more.

"It would be up there, absolutely. Maybe there's some with pools and the full makeover and additions that could possibly come into the higher-priced bracket. But this wasn't majorly modified. It's got a new kitchen and bathroom but apart from that, it was pretty much as it was."

The house had been in private hands for many years.

Buyers were keen on such solid little houses, frightened off by the rotting homes disaster and so many leaky homes for sale, he said.

"These are solid houses, built out of native timbers and very well built.

People are scared by leaky building problems and if they buy one of these, it's a good solid home."

The Puna St house stands on a 1037sq m section which Mr Hawkins said would let a second house be built without blocking sea views for either place. The high price left five to six buyers out in the cold, he said.

Last month, the auction of a state house in Pt Chevalier also stunned buyers. The wooden bungalow at 58 Wainui Ave sold for $850,000, well above expectations. One house-hunter said it needed a complete do-up and the developer who outbid the crowd could not be matched.

- NZ Herald

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