Case study 2: $380,000 buys a foot on the property ladder
Looking for the average home in Auckland City? Here it is. A four-bedroom, nicely renovated villa with polished floors in Selwyn St, Onehunga. Not the best address in this up-and-coming suburb, but a pretty entry level pad all the same.
Sunday, September 28th 2003, 5:16AM
by The Landlord
Sure, it's across a busy road from a pub, but the owners, who did not want to be named, were happy to be on the housing ladder six weeks after arriving from Singapore.
They fell in love with Auckland's old villas, but character suburbs like Devonport, Epsom and Mt Eden were out of reach. At six of the eight auctions they attended, Asian buyers secured the homes by confidently bidding in $10,000 and $20,000 lots.
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