Property market

Press, 20 November 1982, Page 21

Property market

Ten auction reports ai*e included in this week’s survey, over seven days. It is a significant indicator of the state of the market that all of the properties were passed in, although in some cases sales were made later, or negotiations entered into. The auction of a 4.2 hectare block of land at Worsleys Road, Cashmere, was cancelled on November 16 because only one party attended it. A private sale is being negotiated. The property, zoned rural and divided into two paddocks, has a G.V. (1980) of $10,500. The auctioneer was Mr A. Sprott of Warwick Todd, Ltd. A Duvaucbelle holiday home with two bedrooms was passed in at auction on

November 17 after failing to attract a single bid. The vendor had been prepared to leave $20,000 in the property which has a G.V. (1981) of $25,000, but nobody attended the sale. The home, which requires little maintenance and is in good condition, is bandy to the Akaroa township. The would-be auctioneer was Mr Peter Cook, of Simes and Company, Ltd. A sound family home at 144 Hacktborne Road in the Cashmere Hills was passed in at auction on November 16 for $99,000. • . The house, together with a 63 perch sheltered section, has a G.V. (1980) of. $58,500. The auctioneer, Mr Peter Cook, of Simes and Company,

Ltd, said that a private sale was being negotiated. A 4.2 ha mixed horticulture unit containing a colonialstyle,,.. two-storeyed modern family home was passed in at auction on November 10 for $161,000. / .The house features four bedrooms and two living rooms, and the land is rich and intensively farmed. The property, described as “a gilt edged investment," has a G.V. (1982) of $125,000. The auctioneer was Mr D. McKay of Manchester Homes. A small holding of 1.,7ha including a modern four-bed-roomed home at 26 Hyn-; dhope Road, Halswell, was passed in at' auction on . November 16 for $131,000. It has a G.V. (1982) of $112,000. The house features an attached flatette which might be used to provide an extra bedroom, converted to a games room or made into a granny flat. The property enjoys panoramic views. The auctioneer, Mr A. McClelland, of M. B, Cook and Company, said that the sale attracted “quite a bit of interest.” A 35.8 ha block comprising a four-bedroomed family home of permanent materials was passed in at auction on November 10 for $245,000. It was sold immediately afterwards for the same price. It is set among established trees and shrubs and sunny yet sheltered, and has a G.V. (1982) of $207,000. Tbe land is suitable for cropping, dairying, or fattening. The auctioneer, Mr W. R. Flanagan, of Matson and Allan Real Estate, Ltd, said that the sale was very wellattended. A 2ha. freehold block comprising a large, modern

home at 250 Gardiners Road in Harewood was passed in at auction on November 11 for $248,000. The house, nine years old, was built by a professional builder. It is split-level and includes four double bedrooms, a spacious lounge and living room, a walk-in pantry and. two toilets. There is also a games room large enough to accommodate a full-sized billiard table and a five-bay garage. The property has a G.V. (1980) of $lOB,OOO. It was described by the auctioneer, Mr R. I. Stark, of Wrightson NIM.A., Ltd, as “unrealistically low.” , The'; section is. sheltered and private and sufficiently big' to allow for market gardening, a nursery, or a' stud farm. Mr Stark said that about 80 people attended the auction and that a private sale was being negotiated. The property .is being handled by Wrightsori’s in conjunction with C. J. Berry Real Estate. A motel complex on the northern side of the Main South Road in Hornby was passed in at auction on November 10 for $280,000, but was later sold. The property, comprising eight units built of permanent materials and accommodating 24 beds, has a G.V. (1982) of $181,500. It also includes a modern split-level manager’s residence and 7327 sq m providing room for further expansion. The gardens are landscaped and well-kept. The auctioneer, Mr H. Morrison, of Wrightson N.M.A., Ltd, said that about 25 people attended the sale.