Alanah Eriksen

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

Sold - for $1m over valuation

11 Heywood Cres, Epsom, was bought at auction for $2.5 million.
11 Heywood Cres, Epsom, was bought at auction for $2.5 million.

A four-bedroom home in Epsom has sold for more than $1 million - or 82 per cent - above valuation.

After a three-week marketing campaign, the two-storey weatherboard property at 11 Heywood Cres reached $2.5 million in the Ray White auction rooms last week.

It was purchased by a couple with two children.

The 2011 capital value on the house was $1.37 million.

Real estate agent Steve Williams, of Ray White Remuera, said there were five bidders in the room and three on the phones. Bidding started at $1.2 million. About 79 groups had been through three open homes.

"We were pleasantly surprised ... houses in Epsom have been going for more than 30 and 40 per cent above CV."

He said the cul-de-sac of 31 houses was very family-oriented and people gathered for street barbecues.

The 220sq m house was built in 1925 and sits on a 1085sq m section. It has two bathrooms, a kidney-shape swimming pool, a single garage, single carport and off-street parking.

It sits within the city's "double grammar zone", for Auckland Grammar School and Epsom Girls Grammar.

The house has been occupied by Robyn MacLeod and Tony Stack-Forsyth for 31 years. The couple bought it in 1982 for $116,500 when it had a CV of $59,500.

- NZ Herald

© Copyright 2014, APN New Zealand Limited

Assembled by: (static) on production apcf03 at 20 Dec 2014 14:59:05 Processing Time: 421ms