Property market

Press, 12 May 1984, Page 14

Property market

Ten sections at Glenburn Place in Avonhead were offered at auction on May 5, but all were passed in. The subdivision was developed by Suburban Estates, Ltd. The sections ranged in size from 1080 sq. m to 682 sq. m. Final bids went from $35,000 to $45,000. The auctioneer, Mr Tom Pasley of Pasley Real Estate, Ltd, said that one of the sections was sold immediately after the auction. Negotiations were under way to sell “several others” privately. Lately sections have been selling well at auction. Mr Pasley attributed the failure in this case to the size of the properties. The sections are larger than average. Ten flats under single titles at 51 River Road were sold at auction for $310,000. It was a mortgage sale. The property has a GV (1979) of $139,200 and the auctioneer, Mr Denis Chamberlain of Beasley Packard and Chamberlain, said that bidding was vigorous. About 40 people attended the auction. A Mediterranean-style, one-bedroom villa at 77 Kellys Road was passed in at auction on May 4 for 584.000. The property has a government valuation (1979) of $33,000. Among its special features are a large, circu-

lar bath, and mirror-tiled wall. The auctioneer, Mr Roger Stark of Wrightson NMA, Ltd, said that about 40 people attended the auction, and that a private sale was being negotiated. A five-bedroom colonial homestead on 9 ha of land in Boon Hay Valley .was passed in at auction on May 4 for $165,000. The property, with old English fire surrounds and modern kitchen, has a GV (1982) of $116,000. It was auctioned by Mr Warren Flanagan of Matson and Allan Real Estate, Ltd. He said that about 40 people attended the auction, and that a private sale was being negotiated. A modern, two-storey, summerhill stone house at 3 Murray Place in Lincoln was passed in at auction on May 4 for $89,000 - its 1983 GV. The property has four bedrooms and a veranda. It is 15 months old. Mr Tom Williams of Pyne, Gould and Guinness was the auctioneer.