Demand for properties in Fendalton saw two architecturally-designed houses in the exclusive suburb sell under the hammer last week for big sums.
A luxury house on Queens Ave sold under the hammer for $4.25 million - almost $2m above its 2019 RV - after a local buyer saw off competition from two other bidders at Harcourts Grenadier’s auction room on Thursday.
The Don Donnithorne-inspired five-bedroom, three-bathroom home was marketed as 375sqm of “exquisite perfection”.
A four-bedroom, two-bathroom property on Glandovey Road, known as Stonedale, and inspired by acclaimed architect Peter Beaven was snapped up by the sole bidder for $3.075m - almost $1m above its RV.
Alison Aitken, the Harcourts listing agent for the Glandovey Road home, said houses in all areas sold well at auction this week, but people loved Fendalton because of its location and school zones.
Aitken, who is also marketing another property at Helmores Lane, in Fendalton, said they couldn’t get enough good stock to keep up with demand.
Bayleys salesperson Adam Heazlewood, who specialises in real estate in Fendalton and Merivale, agreed there was still demand for good real estate.
Heazlewood said there were “limited pickings” in the entry-level price range in Fendalton given the average sales price for the suburb was in the mid-$1m.
However, he had a number of higher-end properties about to go to market including a Hamptons-style riverfront home with its own island on Fendalton Road.
He has also just listed six homes selling off-the-plans in the new Daresbury development starting from $5.5m. They were bespoke homes overlooking the river complete with pools and lifts, he said.
Heazlewood said a lot of the Fendalton properties had “truly spectacular” settings with the river and were surrounded by similar quality homes.
“It’s just a really beautiful area and the quality of housing is exceptional.”
Last month a luxury Christchurch home situated on large parklike grounds sold under the hammer for an impressive $3.33m during a competitive auction.
The five-bedroom, four-bathroom home on Creyke Road in Ilam, which borders the sought-after suburb of Fendalton, fetched almost double its 2019 RV of $1.685m.
Harcourts listing agent Cameron Bailey told OneRooof at the time that the same property in Fendalton would probably fetch $4m or $5m. “It’s still what I regard as a good location, but I think the buyer just got so much more value there because it’s fringe Fendalton I guess.”
“That top end we’ve been inundated with Aucklanders making enquiries, if not flying down to have a look.”
The auctions for those “big ticket items” such as the two Fendalton houses had gone well, she said, and there was also strong competition for a house in Hadlow Place in Burnside that sold for $1.261m and another in Regents Park Drive, in Redwood, which fetched $1.260m.
When asked about houses selling significantly higher than their RVs, Phillips said it was not unusual. “They always have.”
- By Nikki Preston
