Bidding strong for city houses

Two Auckland houses have sold for well over their reserves after drawing big crowds at open homes and auctions.

Jane Palmer, of LJ Hooker, said the fact that interest rates had hit a new low was thought to be part of the impetus for strong bidding on the properties.

Ian Jowsey, sales manager and auctioneer for LJ Hooker Ponsonby, said Wednesday's 6pm auction drew 150 to 180 people and strong bidding for both places.

A house at 37 Pine St in the Mt Eden/Balmoral area was valued at $590,000, had a reserve of $625,000 and sold for $730,000.

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Posted: 16 Mar 2009

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