Pair of state houses fetch $1.8m


Two
neighbouring state homes in need of “extreme makeovers” have
reached $1.9 million at auction.

Numbers 94 and 96 Haverstock Rd are the first of 19
properties in the street to be sold by Housing New Zealand.
The corporation says it’s too costly to develop the rundown
homes in the flourishing suburb of Sandringham.

House prices and the tone of the street are expected to be
boosted following the two sales and the upcoming sales of the
remaining 17.

The other homes, described as an eyesore because of
boarded-up windows and graffiti-covered walls, are to be
demolished and the land sold separately in March to make way
for new, private developments.

A packed Bayleys auction room included several bidders
yesterday morning, with 94 Haverstock selling for $1.05
million – $350,000 or 50 per cent above its valuation of
$700,000.

Both homes sold to Chinese buyers planning to renovate and
live in them.

The listing for number 94, a four-bedroom 1950s weatherboard
house sitting on a 938sq m section, said the property was
“screaming out to be saved by you”.

Interior pictures show patchy orange carpet, ripped wallpaper
and dated fixtures, and its garden was overgrown.

It was sold to a couple – a doctor at Auckland City Hospital
and an IT worker – with two children.

They told the Herald they plan to subdivide the section,
letting the house and building a new one for themselves
behind it. They live nearby in Euston Rd and plan to keep and
let their present house.

The wife said: “We didn’t want to move too far. We’ve lived
in the area for quite a while and we love it here.”

Number 96, listed as “in need of an extreme makeover”, sold
for $860,000 – $200,000 or 30 per cent above its valuation of
$660,000.

The listing shows dirty walls, a boarded-up fireplace and
missing curtains. The new owners, friends Rick Niu and Tim
Xiao, plan to renovate the home. Mr Xiao is to move into the
house with his pregnant wife.

Housing activist Sue Henry was at the auction protesting
against the sale and tenants having to be moved to other
state homes.

Meanwhile, a former two-bedroom, one-bathroom state house on
330sq m at 158 Coates Ave in Orakei sold at auction for
$775,000 – $285,000 or 58 per cent above its capital value of
$490,000.

94 Haverstock Rd

Sold: $1,050,000

CV: $700,000

Bought by: Chinese couple with two children

1950s weatherboard, 938sq m section, 113sq m floor, 4 bed, 1
bath

96 Haverstock Rd

Sold: $860,000

CV: $660,000

Bought by: Chinese couple expecting a baby

1950s weatherboard, 938sq m section, 101sq m floor, 3 bed, 1
bath

Alanah Eriksen of the New Zealand Herald

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