$990k! Is this the new entry level for first home buyers in Auckland?

The Onehunga property, being marketed for $990,000.

An Auckland house is being marketed for $990,000 and saying "attention first home buyers".

Martin Honey of Ray White One Tree Hill is advertising the cottage at 12 Quadrant Rd, Onehunga and asked if the marketing was reasonable, he said: "For Auckland, no. But for Onehunga, yes. I wouldn't be saying that if it was in Otara or Manukau. But in Onehunga, the average price is about $1.1m.

"For that area, our first home buyers are spending that money. People who come back from overseas, or they have been renting quite a while, they're on high incomes, two people working..." were capable of paying that, he indicated.

Honey said it was priced correctly for the area which had substantial amenity value.

"It's right up there. It's pretty premium for the first home buyers because Onehunga has the parks, it's on the boundary of Epsom and Greenlane yet it's cheaper than Mt Eden or Ponsonby. It's got a village," Honey said.

Lesley Harris, head of commercial and media relations at the Auckland-based First Home Buyers' Club, was not in the least surprised by the marketing.

"Unfortunately, I"m not saying 'wow, that's absolutely disgusting', because many Auckland first-home buyers were having to pay around $800,000 or more.

"That would be the average now, so something in the nines doesn't surprise me at all. We have people registered with us spending more than $1m because they have to," she said citing divorcées and migrants.

The club has about 4000 registered members and 15,000 social media followers, she said.

Social media expressed shock and surprise.

"This is strangely out of my first home budget," said one person. Another said: "If you didn't waste all your money on avocados!".

"How can they seriously place an ad like that?" asked another.

"To be fair, the 'do nothing about it' front lawn is appealing to millennials," said another noting no grass at the front of the place.

Marketing said: "This gorgeous cottage could be your own slice of country in the city. Located on a full section and in one of Onehunga's most desirable streets surrounded by other character homes. Two double bedrooms, one leading through to an additional study, nursery or third bedroom. Fantastic for kids and pets and only walking distance to the Onehunga Lagoon, dog park, playground, beaches, shops & cafes. Open plan kitchen and dining with views of the Manukau Harbour. Separate lounge with great indoor-outdoor flow. Kent style fireplace and HRV system."

Auckland Council's valuation information says the property was assessed as being worth $780,000 on July 1, 2014. Annual rates are $2717.39.

Web site homes.co.nz gives has no valuation for 12 Quadrant Rd, only noting it is for sale and linking to the ad.

However, it has $1.2m on 14 Quadrant Rd and $1.1m on 10 Quadrant Rd.