PHOTO: The sale drew intense interest from buyers, with a bidding war
Kāinga Ora has just made headlines with the sale of its most expensive state house ever, fetching $3.4 million at auction.
The four-bedroom villa at 18 Trinity Street sits on a 619 square metre section, on the edge of Auckland’s affluent Ponsonby and Herne Bay suburbs. With a ratings valuation of $3.15 million, the historic property is 102 years old and has undergone frequent repairs over the years.
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💰 Auction Highlights
The sale drew intense interest from buyers, with a bidding war pushing the price to $3.223 million, just above the property’s valuation. After an hour-long negotiation, the successful bidder increased their offer to $3.4 million, securing the villa.
“This sale highlights the enduring demand for well-located properties, even historic state homes,” experts said.
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🏠 About the Property
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Location: 18 Trinity Street, Ponsonby/Herne Bay
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Size: 619m² section
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Bedrooms: 4
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Age: 102 years old
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Ratings Valuation: $3.15 million
The villa’s classic architecture and proximity to Auckland’s prime locations made it a unique entry in the city’s high-end residential market, despite its history of repairs and maintenance.
📈 Market Implications
This sale sets a new benchmark for state-owned properties, highlighting both the desirability of Auckland’s inner-city suburbs and the premium buyers are willing to pay for well-located homes.
🌟 Takeaway
The sale proves that location, heritage, and potential can command premium prices, even for state-owned homes. As Auckland’s housing market continues to heat up, high-profile sales like this one will continue to grab headlines and set new benchmarks.
