Herne Bay renovator villa sells for NZ$2M under the hammer

A Herne Bay renovator villa that offered a great opportunity to rejuvenate and reap the rewards of a spruce-up has sold for NZ$2,000,000 at auction at 268 Jervois Road.

Ray White Auctioneer Ben East (above), who successfully called the under the hammer sale, said it was great to see strong interest across all property markets.

“Buyers in the market are so energized right now and they’re willing to go above and beyond to secure their property – even when it comes to renovation projects,” Mr East said.

“That’s testament to how strong the market is. Buyers are actively competing at auction and that’s driving some outstanding results. There’s no doubt the time to sell is right now.”

Ray White Ponsonby Salespeople Elaine Ferguson and Matt Johnson, who managed the sale of 268 Jervois Road (above), said they had three registered buyers actively competing on the night.

“The campaign was busy for the price level considering the property is a renovation project – mostly young couples were looking as they could see real potential,” Ms Ferguson said.

“The property was the vendor’s first home in 1993 after they returned from living in LA and London, they renovated it then and lived there for a while, then headed back overseas to work and the property has been a rental ever since.

“It’s evident the market is as strong as it’s ever been and stand-alone homes in the central city areas in particular seem to be doing very well. It’s a great time to be selling.”