Auckland is one of the most expensive places in the world to buy a home – an Economist report found that the average house price in Tāmaki Makaurau exceeds annual household incomes by eight times (the recommended ratio is three times a family’s earnings). In a recent series of articles in Stuff every week they take an in depth look at what a budget of one million dollars will get you in Auckland. Stuff seeks out a house in the Auckland region up for auction with an estimated sale price of around $1 million. Read the full article on the Stuff website click here.
Our property team are experts in conveyancing and the legal requirements of property owners and landlords.
So what does $1 million actually buy you in Auckland? A mansion in the most desired suburb? Not quite.
With a 2011 CV of $1,040,000, this bungalow is expecting to sell for more than $1.1 million at auction this week. It is a four bedroom, one bathroom home. In average condition, but needs a lot of work. Built in the 1920s now looks like it needs some work. In the southern part of Mt Eden (bordering Epsom, Mt Roskill and Three Kings) its in the Double Grammar zone, as well as ANI and Maungawhau which explains its price tag.
If you are looking to buy a apartment or house in Auckland get in touch with Queen City Law.
We have substantial experience and a proven track record in the sale and purchase of: Cross Leases, Freehold properties, Leasehold properties, Unit Titles (Apartments and Carparks), Subdivisions and Residential Tenancies. Although conveyancing can be straightforward, sometimes mistakes can be costly. Accordingly, we strongly recommend you contact us as early as possible when you are buying or selling to ensure that we can add value to your requirements. We will do our best to ensure that your transaction is completed smoothly and efficiently and keep you informed as to progress. Our fees are highly competitive and we can also assist with structuring your purchase and in some cases you may require assistance with the formation of a family trust, a limited liability company or partnership or any other entity appropriate to your requirements.
We also suggest that you click on Legal Checklists in our Practical Law Library as you will find useful information there which will assist you.Contact Us