Herne Bay renovator villa sells for NZ$2M under the hammer

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A Herne Bay renovator villa that offered a great opportunity to rejuvenate and reap the rewards of a spruce-up has sold for NZ$2,000,000 at auction at 268 Jervois Road.
 
Ray White Auctioneer Ben East (above), who successfully called the under the hammer sale, said it was great to see strong interest across all property markets.
 
“Buyers in the market are so energized right now and they’re willing to go above and beyond to secure their property – even when it comes to renovation projects,” Mr East said.
 
“That’s testament to how strong the market is. Buyers are actively competing at auction and that’s driving some outstanding results. There’s no doubt the time to sell is right now.”

Ray White Ponsonby Salespeople Elaine Ferguson and Matt Johnson, who managed the sale of 268 Jervois Road (above), said they had three registered buyers actively competing on the night.
 
“The campaign was busy for the price level considering the property is a renovation project – mostly young couples were looking as they could see real potential,” Ms Ferguson said.
 
“The property was the vendor’s first home in 1993 after they returned from living in LA and London, they renovated it then and lived there for a while, then headed back overseas to work and the property has been a rental ever since.
 
“It’s evident the market is as strong as it’s ever been and stand-alone homes in the central city areas in particular seem to be doing very well. It’s a great time to be selling.”

Elsewhere, Ray White Pukekohe Salesperson Derek Sullivan orchestrated the NZ$1,370,000 sale of 44 Searle Drive (above) in Patumahoe, NZ$120,000 over the CV.
 
“Right from the first week there were strong numbers for this property. The vendors rejected an offer of NZ$1,300,000 prior to auction – so the vendor is very pleased,” Mr Sullivan said.
 
“There were three main contenders who saw the property three times – the successful buyer was a local moving from a lifestyle block into a relatively new home with a pool on half an acre.
 
“The market in Franklin is strong. In the same area, I listed a property just one street away at 9am on Friday, we had a viewing at 11am and we had a contract on the home by 5pm.”