4 bidders, 5 bids, and the vendors weren’t going to cave in. That’s the way things turned out on the one apartment auctioned at City Sales today.
Bayleys’ city & fringe commercial team has completed sales in the fast-changing Sale St above Victoria Park (13 Sale St outlined in the picture above), and in Morningside, Newton & Remuera.
7 apartments were sold at Ray White City Apartments’ auction yesterday out of 9 on offer, including one of 2 leasehold units at The Docks and another Quay Park leasehold at The Landings.
Bayleys sold 11 properties under the hammer yesterday of the 15 offered in its first Total Property commercial portfolio for the year. Another property was sold last Friday in an auction brought forward.
A St Benedicts St apartment was sold under the hammer at Bayleys’ auction today, but a unit in the Northridge in Parnell was passed in.
Today’s Reserve Bank cut in the official cashrate was well & truly factored into commercial property prices yesterday at Bayleys’ Total Property auction as 6 fully leased properties sold at sub-5% yields.