Blair Haddow: High-end greater Ponsonby residential property market still active

– as latest auction result testifies...Who says the residential property marketing in Auckland is stagnating?

Certainly not the Bayleys’ Ponsonby team and leading salesperson Blair Haddow who has just negotiated a high-end sale as good as anything you would expect to find when the market is fizzing.

The auction room at Bayleys was buzzing this month when the gorgeous home at 3A Hope Street in Westmere came up for auction. The contemporary luxury four-bedroom/three lounge/three-bathroom home features state-of-the-art design elements and fittings. Wrapped around an inground pool, the majestic two-storey residence with harbour vistas is an entertainer’s dream in any of the three living rooms. The master bedroom, replicating a luxury lodge style of living in its own ‘wing’, has a private balcony, walk-in wardrobe, and immaculately tiled en-suite.

Bayleys’ auction room activity for the Hope Street stunner was frenetic with all five bidding parties in the room having a crack at the top offer. Bidding opened at $4million, and rose quickly in increments of $100,000, then increases of $50,000, and final in $25,000 portions until Bayleys’ auctioneer brought the hammer down for a price of $5.85million.

Interestingly, the final, and highest, offer, which brought the auctioneer’s hammer down, was the only bid from the successful buyer who patiently sat on the side-lines until striking with clinical precision to nab the deal and bring about cheers and loud clapping in the auction room.

"It was an amazing auction – one of the best I’ve seen in years,” confides Blair Haddow. “Having so many bidders participating in the event really underpins the rationale for choosing the auction process and achieving the best result for my client who was rapt that the marketing uncovered so much interest for their property."

The Hope Street sale comes just months after Blair sold another architecturally stunning dwelling at 48B Sunny Brae Crescent in Westmere at auction for $6.2million. All of the unsuccessful underbidders on that property have remained on Blair’s exclusive database, and were personally contacted about the Hope Street listing. They all came through to view the home on Blair’s advice.

"The $5million-plus residential property market in the Ponsonby/Herne Bay/Grey Lynn/Westmere locales is still very much alive and well. I have a private and very restricted database of buyers out there looking for homes in this price bracket but I simply don’t have the properties they are looking for," said Blair.

"The buyers in this sector are very particular though, so they are prepared to patiently wait until the right home comes up. And when they do, well, the Hope Street and Sunny Brae Crescent sales say it all. The parties in my $5million-plus database are well-funded and fully pre-qualified to buy when the right home comes up."

With listing stock still ticking over, Blair has three new listings lined up for auctions at Bayleys in May, featuring…

60 Ardmore Road in Herne Bay – a fully renovated and modernised four-bedroom/two-bathroom villa, with off street parking for two vehicles. The rear of the home features a private beautiful courtyard space with a landscaped water feature and spa pool.

11 John Street – a former three-bedroom/one-bedroom worker’s cottage on a flat sunny site just a few doors down from Jervois Road, which is perfect ‘as is’ and also has oodles of potential to modernise and expand out over the sizeable back yard lawn.

45 Clarence Street in Ponsonby – a three-bedroom/two-bathroom villa opposite Ponsonby Intermediate School, with off-street parking for three vehicles and potential to add value by expanding the home’s size or potentially retaining it ‘as is’ for a rental investment.

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