OneRoof has revealed the resort-style home on Pentlow Pl, Fendalton, which had been on and off the market for the last eight years, attracted a new wave of interest when the vendors decided to sell the home with the 1120sq m section they owned next door.
The vendors had planned to sell the six-bedroom, four-bathroom home they built after the Christchurch earthquakes and then build a new home on the empty land, OneRoof reported.
But when their children left home they moved out of the city and decided to sell both.
New Zealand Sotheby’s International Realty managing director for Canterbury Rosa Carter told OneRoof the listing agents received multiple offers.
“At that kind of price point, people tend to want land and have privacy from their neighbours," Carter told OneRoof.
The Christchurch buyer had been looking for a home for their growing family, Carter said.
The buyer told OneRoof they now had land they could use for a tennis court, pool, or a second home.
Last year, five Christchurch homes sold for $6m or more, with the top sale price exceeding $9m, for a large property in the hillside suburb of Scarborough.
Carter said there were homes built after the Christchurch earthquakes worth more than $10m, and some of them would likely come to market in the near future.
“It took time for people to get their insurance settlements and for them to get built so they are hitting that five-to-seven-year time period now and of being in those homes and then going on to that next stage of life.”
Carter told OneRoof she knew of at least one her agency would be listing later this year which was expected to nab over $10m.
"This year it wouldn’t surprise me if we have $10m-plus and then the next step is $15m-$20m.
"I honestly think within five years we will be [hitting] Auckland prices because we’ve got these beautiful properties."
