Modest Hamilton bungalow sells for surprising $1.01m - 120 per cent above RV
16 Mar, 2021 04:00 PM
4 minutes to read
Original 950s bungalow on Young St in Claudelands sells for 120 per cent above its RV. Photo / Blair Pointon
Herald reporter based in HamiltonNikki.Preston@nzme.co.nz
An original three-bedroom bungalow in Hamilton has sold under the hammer for a whopping $1.016m - a street record leaving even its selling agent speechless.
Hamilton real estate firms say the Hamilton market is red hot is due to increased interest from developers looking for larger sections to redevelop, investors wanting to land bank as well as owner occupiers looking to get a foot on the property ladder or upgrade.
However, it’s not the 1980s house that helped Lodge real estate agent Blair Pointon secure the sale but the 809 sqm of flat land underneath it. “Sunnyside was a family home looking to sell. I sold one down McKinley Place in the early $500s, so they thought that is what they would get.” “Anything over 1000 sqm that is flat and in a good area tends to be ideal. Quarter acre sections are very desirable, once you get under 1000 square metres they become less and less desirable.” Hamilton City Council consent applications show a near 50/50 split between infill houseing and greenfields new builds.