PROPERTY SALES

New Zealand Herald, Volume 80, Issue 24748, 23 November 1943, Page 4

PROPERTY SALES

MISSION BAY HOUSE . VALUERS AT VARIANCE Conflicting valuations of a residential property at .Mission Bay were given at a sitting of the Auckland Urban Land Sales Committee yesterday, when consent was sought to the sale of a house property in Atkin Avenue. The valuations submitted by a private valuer and a representative of the State Advances Corporation showed a variation of £582.

For the vendor, Mr. Hooper said the property, which comprised a fiveroomed house on a section of 57ft. frontage by 167 ft., was purchased by the vendor last July for £1750, and the present sale price was agreed upon at £2300 in view of the expenditure on improvements. The vendor had been lucky in making the purchase at that figure, as the former owner had desired an immediate sale. Within three weeks of purchasing the_ present vendor had been offered £2250 cash, which was considered the market value. An estate agency valuer, George l. Bunting, said he valued the property at £2352, the house being about five years old. He based his valuation of the section at £6OO on the knowledge that a vacant section in the same street sold some time ago at £BOO. He estimated the replacement value of the house at 25s a square foot. A valuation of £1770 was submitted by a property supervisor of the Stale Advances Corporation, Stephen H. Clark, lie valued the section at £275. He knew of a section in Godden Crescent on the high ground of the district which was sold about six months ago for £6OO. The replacement value he assessed at 23s a, square foot. _ _ The committee reserved its decision.