What would further cuts to interest rates mean for mortgage holders and buyers? OneRoof Need to Know host Frances Cook and Mortgage Lab's Rupert Gough explain.
Auckland's housing market might be red-hot, yet one Remuera home-seller is still going the extra mile to rev-up interest in his house.
He's thrown a $40,000 Ford Mustang GT into the deal.
Buy the four-bedroom home at 1/725 Remuera Rd for $1.995 million, and you'll also get yourhands on wheel of the 2006 supercharged muscle car, capable of going nought-to-100 in under five seconds.
Jethro Hooker is offering a $40,000 Mustang GT sport car as a sweetener to sell his Remuera home. Photo / Michael Craig
Auckland's median sales price leapt to a record $955,000 in September, according to the Real Estate Institute.
Property pundits were also forecasting more than $1 billion worth of homes would sell in Remuera this year - a sales amount not seen since the 2016 boom-era.
Hooker said there had also been plenty of interest in his home with "about two enquiries a day".
The "beautiful" architecturally designed house was just three years old and had lovely views.
It's decking and three-storey open-plan layout suited "pretty much every age and generation" of buyers, Ray White selling agent John Quiambao said.
"Whether it's a downsizer, a young family looking for a nice upgrade ... or it could be someone with teenagers because you've got a downstairs bedroom," he said.
The Remuera Rd home is on sale for $1.995m. Photo / Supplied
Yet ultimately the home failed to sell at auction a few weeks back.
Why? Apparently because it sits at the bottom of a long, steep driveway.
"We've had hundreds of people through and they love the house, but they just don't like that driveway," Hooker said.
The home was also located just outside the double grammar zone granting residents the ability to enrol children in some of Auckland's most prestigious schools.
