Tauranga townhouse has sold for $110,000 above its capital value, a result that surprised even the agent who sold it.
Probably the bigger story is what it reveals about a local property market that remains flat, but is producing fierce competition for the right homes.
Ray White Tauranga agent Ellyn Brunskill recently sold a two bedroom townhouse for $865,000 after a three week campaign. The property's CV was $755,000 and three bidders competed at auction.
“The owner and I were absolutely gobsmacked and delighted!” says Brunskill.
The Ray White agent believes it’s down to demand for lower-priced homes, renovated homes, the role of auctions, and low supply.
