Stage II Auction Repeats 100% ‘Under the Hammer’

NEWS RELEASE

Subdivision Stage II Auction Repeats Stage I 100% ‘Under the Hammer’ Result in Hamilton

For Release: 18 November 2005

Another “spectacular” auction event held Wednesday evening 16 November saw all 33 sections of Stage II of ‘The Dales’ subdivision in Hamilton’s Dinsdale sold ‘under the hammer’. Marketed by Patsy King of Harcourts Hamilton City, the auction provided another opportunity for keen buyers who had missed out on the 26 sections auctioned in Stage I of The Dales which all sold under the hammer at a similar event held six weeks ago on 29 September.

Harcourts Hamilton City Business Co-Owner and Auctioneer, Brian King said “there was very strong bidding on all sections Wednesday night with another very busy and very active auction room.”

With most buyers from the local area looking to build a family home, Mr King noted the popularity of the subdivision reflected the keen desire to live in the western side because of its easy access into central and other parts of the city. The Dales is the only available subdivision in the popular western side with most other subdivisions in the northern part.

Mr King said that the 100 percent under the hammer result at both Stage I and Stage II of The Dales within six weeks of each other clearly demonstrated this demand for subdivisions west of the city.

He added that what had also captured many buyers’ interests was the fact that all the roads, footpaths and services had been completed by the time The Dales was launched enabling buyers to see the “very well thought-out layout design” which included a number of “interesting contoured building sites” and some sections enjoying picturesque Pirongia and Raglan Hills views.

Section sizes in Stage II ranged from 501sqm to 739sqm with prices achieved ranging from $105,000 to $174,000 with an average price of $143,000.

Mr King said the local Hamilton area continued to enjoy strong buying confidence across all price ranges which was good news for vendors, and with more property coming on to the market, buyers were also being provided with more choice.

ENDS

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