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Ferrymead-based real estate agent Paula Standeven has barely had time to stand still while immersed in the Sumner real estate boom.
She took time out from her busy schedule of open homes last week to revisit a modernised four-bedroom family house on Stoke St that went under the hammer last Saturday in a sale that underscored the suburb’s popularity.
The property, which had a rateable value of $900,000 in August 2019, fetched $1.345 million after a bidding war helped enable the coastal community to join the city’s million-dollar post codes.
“It’s near impossible to get a well-presented family home under a million dollars,” she said.
“There’s always demand outstripping supply.”
Standeven, of Ray White, also referenced the sale of a two-bedroom villa on nearby Wiggins St as a foundation stone of Sumner’s appeal.
“It had a rateable value of $680,000 and sold for $1.465 million, that’s phenomenal,” she said.
Although stock is at a premium, Standeven expects business to carry on though to the holiday season.
“We don’t have half the listings we would have had this time last year, but we don’t expect a break until Christmas.”