World Cup property set to profit

The 21 Walters Rd, Mt Eden home (pictured) has sold for $750,000 with 23 Walters Rd expected to fetch a similar price. Photo / Supplied

Two villas on the doorstep of Eden Park are among a swag of homes being marketed as potential prime accommodation to get top dollar from rugby-mad fans flocking to the 2011 World Cup.

Daniel Beetham of Anne Duncan Real Estate has been touting the two houses opposite the park as having grandstand positions, and using the World Cup as a carrot.

One of the two nine-bedroom houses, 21 Walters Rd, sold for $750,000 on Friday and number 23 is expected to sell for about the same price.

Beetham has been receiving inquiries from people considering turning the homes into boarding houses and renting them out for the World Cup.

He said his marketing idea might seem early, but it would take time if the buyers wanted to renovate for the Cup.

Alan McCloy of Certified Renovations in St Lukes said while it had been tough for builders in the past 18 months, Cup fever had made the area a hotspot with more activity than elsewhere in Auckland.

"People are certainly renovating because they think they can get pretty magic money if they move out and rent out their house when the World Cup is on."

Ashley Goodwin of Goodwin Realty expected people renting out homes during the Cup to pocket exorbitant rents too, but didn't think it would have much bearing on prices.

"Remember the America's Cup and how properties were going to go through the roof? I don't believe it will have any effect."

Having seen a big increase in property prices around Eden Park in the past three years, Derek Helliwell of Barfoot and Thompson Mt Eden said "most of the gain that people would have for Eden Park has already happened".

Homeowners were now asking what would happen after the Cup. "It's still a very good location, it's very close to the city. I can only see it is going to be a go-ahead area for years ... irrespective of the World Cup."

Helliwell said the occasional buyer was looking for a short-term profit, but most were looking long-term.

"The Rugby World Cup is on for a couple of months in the country, and then off to Europe or Japan after that. Eden Park's going to be a fantastic facility, but it's unlikely the World Cup is going to be here again."

Some buyers wanted to be close to the action - on Friday Joseph O'Sullivan of Ray White Kingsland sold an apartment for $330,000 to "rugby nuts" who needed an Auckland location.

"They followed the British Lions around when they were here, and now they'll be able to have parties at the apartment after the Cup games."

Leslie Preston, general manager of holiday home website Bachcare, said she expected inquiries for accommodation around Cup time to start once tickets went on sale.

So far, she has had homeowners ask what demand might be like throughout the Auckland region including beach spots and in some of the provinces.