A rundown three-bedroom Auckland villa with a large hole in the toilet floor and watermarked ceilings has sold for $1.2 million - $75,000 more than the asking price for a three-storey Tauranga mansion with harbour views and a swimming pool.
The two examples show the widening gap between Auckland's property market and provincial New Zealand, as revealed in the Herald's quarterly Property Report today
..............
Suburbs in Auckland that had the biggest increase in house prices were Ponsonby, Pinehill and Sunnyvale, while outside of the region, Fairy Springs and Kawaha Pt in Rotorua were the best performers along with Greerton in Tauranga.
And the most expensive suburbs in the country are all in Auckland - Herne Bay (average $1.7 million), St Marys Bay ($1.4 million), and Stanley Pt ($1.2 million). Mataura in Southland produced the country's cheapest sale - a $10,000 home. That's 580 times less than the most expensive house - a $5.8 million mansion on Herne Bay's Marine Parade.