Fresh price for a 'tired' house

Old house sells for $549,500

JOHN ANTHONY
Last updated 05:00 19/07/2012
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JONATHAN CAMERON

This Hamblyn St home sold for $549,500 at auction yesterday.

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JONATHAN CAMERON
Roland Lina auctions off an old house on Hamblyn St, it sold for $549,500

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A tired New Plymouth home on a desirable seaside street sold under the hammer for more than half a million dollars yesterday.

The three-bedroom house on a 455 square metre Hamblyn St section was sold at a public auction yesterday for $549,500 by Multilist Realty. The house had a rateable value of $520,000.

Multilist Realty auctioneer Roland Lina said it was the first time the house had ever been on the market. "We all know it's a million-dollar property some time in the future," Mr Lina said.

The house, which was being sold by an estate, attracted seven bidders yesterday, a high number for any house auction, he said. About 40 people showed up at the sale.

Real Estate Institute of New Zealand spokesman Garry Malcolm said the new owners got a good price for the property.

"I'm probably surprised it didn't go for a little bit more but I dare say the buyers did their homework," Mr Malcolm said.

The buyers, who wished to remain anonymous, said they had also expected the auction to go higher and were pushed close to their limit.

They said they had looked through the house only once.

Mr Lina said the house went on the market two weeks ago with no offers before the auction.

The house would always have a view because it was adjacent to Seaton St, meaning no houses could be built in front, he said.

"The view can never be taken away. It's a first-tier property."

A quick search of seaside properties in other parts of New Zealand showed mixed asking prices. A new three-bedroom apartment on Napier's waterfront, with a 220sqm section, has an asking price of $640,000 - the same as its rateable value.

A 459sqm Mt Maunganui property one block back from the street and described as a "modern-day version of the traditional Kiwi bach" has an asking price of $439,000.

A new two-bedroom home in Brighton, Dunedin, on an 809sqm section is asking for enquires above $499,000.

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- Taranaki Daily News

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