St Heliers house goes for more than double CV

The house on Tamaki Dr which fetched $3.35m

An Auckland real estate agent was surprised when the St Heliers house he was marketing, which had a $1.5 million CV, went for more than double that at $3.3 million.

David Nightingale of Harcourts St Heliers said the 135sq m house on a 238sq m site at 441 Tamaki Dr sold at auction yesterday for $3.3 million

Yet Auckland Council lists the property as having a capital value of only $1.54 million, although that assessment dates back to mid-2014.

"We thought it might be mid to high 'twos'," Nightingale said, referring to a possible sale in the $2 million region.

"I was surprised. But there were over 200 people at the auction and there were six to eight bidders," he said of the auction of the fairytale house.

"It's iconic because it's as close to the waterfront as you're going to get and it was the cute or historic factor," Nightingale said.

"It was very hard because there's nothing to compare it to. But it's getting very hard to value real estate. It's like a fruit bowl. You're trying to give estimates but it's the market that really sets values and we're getting constantly surprised," he said.