Home bought for $365k sells for $1.47 million

Sue and Roy had owned the Merivale house for 47 years. Photo: Supplied
Sue and Roy had owned the Merivale house for 47 years. Photo: Supplied
An elderly couple paid $365,000 for their home 47 years ago. Now Sue and Roy have sold it – for $1.47 million.

Harcourts listing agent John Fulton told OneRoof selling the three-bedroom, one-bathroom property at 47 Holmwood Rd, Merivale, had been a really big decision for the couple who are now in their 70s.

“It was quite an emotional process for those buyers coming to the market,” he said.

The couple had watched the suburb grow over time and could tell you exactly how it had changed,” he said.

“Roy can even remember when Merivale Lane was literally a lane, and they had to widen the road next to Rangi Ruru Girls’ School there. It was pretty amazing hearing the history of what he said changed in the area.”

Fulton told OneRoof they had loved the house and its central location. Even though they had considered moving over the years, they could never find something with the same amount of character, charm and lovely outlook.

The property also captured the new owners’ hearts as soon as they stepped inside. The couple viewed the 1920s property on the first day it was listed and returned a few days later for a second look. “They fell in love with the home and bought it while they were overseas.”

The buyers dialled in from Helsinki in Finland to make sure they didn’t miss out, Fulton said. They were the only bidders. It opened at $1m, paused at $1.1m and eventually sold for $1.47m after negotiations.

“It was pretty emotional. I spent some time on the phone with (Sue) last night, and they couldn’t be more pleased with the result. Emotions were high, but they were just overwhelmed with the result, and I’m thrilled for them now,” Fulton told OneRoof.

47 Holmwood Rd, Merivale. Photo: Supplied
47 Holmwood Rd, Merivale. Photo: Supplied
The Holmwood Rd auction follows some significant sales in Merivale and neighbouring Fendalton.

Former All Black Richie McCaw’s family home sold for north of $3.6m after two buyers turned up to bid on the luxury Jacksons Rd, Fendalton, property.

Another long-term Merivale resident walked away with $1.54m after their Repton St unit exceeded expectations by selling for $350,000 above its reserve.

Fulton said Merivale and Fendalton had always been popular, but he felt it has been very hot right now, with people wanting to be closer to the top schools. He recently sold a property on Straven Rd, Fendalton, for $3.06m to buyers who were moving from Wigram to be closer to their son’s school.

He has also fielded inquiries from people in Queenstown, who wanted to move to Christchurch when their children reached high school age.