Alanah Eriksen

Alanah Eriksen is the New Zealand Herald's property reporter, and assistant chief reporter.

House deal in 15 hours stuns owner

Denise Halloran sold her Avondale home to move close to her son and grandchildren.
Denise Halloran sold her Avondale home to move close to her son and grandchildren.

Denise Halloran's Avondale home went on the market on Friday morning and she had a winning offer on it by the time she watched Coronation Street that night - for almost $300,000 above its valuation.

The real estate agent involved in the sale says this is one example of how in the tight market there are buyers lined up for standalone properties on the city fringe. But on the other side of the coin, first-home buyers are turning up to open homes with no hope of having the 20 per cent deposit required by most banks.

Ms Halloran, 59, bought her three-bedroom weatherboard house in Mead St in 1980 for $26,000 and raised her two children there.

The 94sq m home sold to a young couple for $630,000 - $270,000 over the valuation of $360,000, set in 2011.

Over the past 34 years, the only renovation she carried out was putting in a new kitchen a year ago, which cost about $5000, so she made a profit of $599,000.

Ms Halloran wanted to downsize and live closer to her son, whose two children she looks after once a week, so she bought a two-bedroom home in Te Atatu last Saturday.

She wanted a quick sale and called Barfoot & Thompson real estate agents Ryan Harding and Matt O'Rourke, who had recently sold a similar home for $680,000 on the same street.

Ms Halloran's house was to be sold by auction and went live on the agency's website early Friday morning, between 2am and 4am. The agents brought in one of the under-bidders of the other home to have a look that afternoon.

He and his partner made an offer just after 7pm, meaning a buyer was found in about 15 hours.

Ms Halloran accepted and the auction was brought forward to Tuesday. Two open homes were held over the weekend with 22 groups of people looking through, but the house was sold to the couple who made the offer.

"It just happened so quick, it was amazing," Ms Halloran said.

Mr Harding said some people at the open homes did not have big enough deposits. "They're not even in the ballpark any more for Avondale." He said there were people wanting to pay $500,000 in Avondale "but there are enough people willing to pay more".

105 Mead St, Avondale

- Sold for $630,000

- CV $360,000

- 1960s weatherboard

- 3 bed, 1 bath, 94sq m floor, 695sq m section

- NZ Herald

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