100% ‘Under the Hammer’ Result at Hamilton Auction

100% ‘Under the Hammer’ Result at “Spectacular” Hamilton Section Auction

For Release: 3 October 2005

Within two hours of the first section of ‘The Dales’ subdivision in Hamilton’s Dinsdale area being presented at a “spectacular” auction event night on Thursday 29 September, all 26 sections marketed by Patsy King of Harcourts Hamilton City were sold ‘under the hammer’.

Harcourts Hamilton City Business Co-Owner and Auctioneer, Brian King said “there was very strong multiple bidding on all sections with well over two hundred people in the auction rooms.”

Mr King noted that what made it so special is the fact that The Dales is the only available subdivision in the western side of the city, with most other subdivisions in the northern part, providing a unique opportunity for those keen to build a home in the popular western end with its attractive views of picturesque Pirongia and the Raglan Hills, and easy access to the city centre.

Section sizes ranged from 579sqm to 1,174sqm with most between 600 and 700sqm. Mr King said prices achieved ranged from $130,000-$240,000, well exceeding the vendors’ expectations.

He added that to the best of his knowledge all buyers were local “looking to build their futures in The Dales” reflecting the ongoing local confidence in Hamilton property. “The last three months in our offices have been fantastic with huge buyer activity and prices still nudging up.”

With last week’s auction following only a short two-week marketing campaign, the 100 percent sold under the hammer result clearly demonstrated the demand for subdivisions in areas other than the northern part of the city.

Those who missed out however won’t be disappointed for long as Ms King is currently working with the vendors to market a further 38 sections in Stage II of The Dales in coming weeks.

ENDS

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