Strong Confidence Top Results at Rural Auctions

Strong Confidence Sees Top Results at Rural Auctions

Confident bidding and “strong values” have continued to be a feature of recent rural property auctions in the local area according to Manager of Harcourts Dannevirke, Murray Graham.

Mr Graham said the office conducted four rural auctions in the area during late March/early April with all properties selling “at what were locally considered to be strong values.” He added that a good level of serious buyer enquiry was received on all properties and the auctions were well attended clearly reflecting the ongoing confidence in the local rural property market.

The feature of the four auctions was a 60-hectare property on Garfield road, Makotuku, which is still the ‘talk of the town’ in Dannevirke, (about 20km south of Makotuku).

Held in the Makotuku hall last week, Mr Graham said a crowd of over 80 people attended the auction including six bidders. Opening at $500,000, “very spirited bidding quickly took it to the final sale price of $755,000.”

The other three auctions were also well attended with spirited bidding: 6 April: Garfield Road, Makotuku. A 60-hectare run off/finishing property of undulating contour with older home, woolshed and other outbuildings.

Sold under the hammer for $755,000 + GST. 1 April: Cowper Road, Dannevirke. A 17-hectare easy contoured property with relocated two bedroom home. Well located and in a popular area approximately 9km from Dannevirke. Passed in at $292,000 + GST and sold immediately after auction. 1 April: Tipapakuku Road, Dannevirke. A 1-hectare lifestyle block close to Dannevirke with tidy smaller modern home and good outbuildings. Sold under the hammer for $225,000. 25 March: Carr St, Ormondville. A 49-hectare mixed contour property predominantly used for grazing and calf rearing purposes with three bedroom home and other outbuildings. Sold under the hammer for $450,000 + GST.

The auctioneer for all properties was Wayne McDonagh who was involved in the marketing of two of the properties alongside Geoff Waterworth who was involved with all the property sales.

© Scoop Media