Property market

Press, 9 May 1984, Page 12

Property market

Three Rolleston farmlets were offered at auction on April 27 and all were passed in after bidding failed to reach the reserve. The first lot, divided into four paddocks one of which

was planted with 5000 Riesling grape vines, has a GV (1982) of $32,000 and was passed in at $45,000. The second, in lucerne, was passed in at $47,000. It has a GV (1982) of $29,000. The third, in pasture, was passed in at $48,000 and has a GV (1982) of $32,000. Mr Roger Stark of Wrightson NMA was the auctioneer. About 10 people attended. Ten of 14 residential sec-

tions in a subdivision off the Arlington Street extension in Burnside were sold at auction on April 28 for an average price of $42,250. The largest of the lots was 975 sq m and the smallest, 550 sq m and prices ranged from $39,500 to $47,250. Mr G. A. Woodley, of Binns, Barber and Keenan, Ltd, was the auctioneer. He said that between 60 and 70 people attended the sale. Some vendor finance was

available. Builders bought some of the sections, but they did not predominate among the buyers. A two-bedroom ownership flat at the corner of Barrington and Rahera Streets was sold at auction on May 2 for $55,000. The property, with a garage, sun terrace, Targe lounge and separate dining room, has a GV (1979) of $23,500. It was sold by Mr Don Peebles, of Ramsay Real Estate.