Property

We're no cowboys - agent

A New Zealand real estate agent campaigning to sell Auckland apartments to Australians says he cannot keep up with demand from Sydney.

Thursday, June 24th 2004

But City Sales boss Martin Dunn said he was irked by allegations this month from Australian real estate agent and industry crusader Neil Jenman that Auckland apartment marketers and sellers had become the "Queensland cowboys" of Australasian property.

Dunn said Auckland agents were not selling overpriced apartments to Australians in revenge for Queensland timeshare scams wrought on New Zealanders.

"I am particularly sensitive to our being branded as the Queensland cowboys. We are deluged with Australians. Without any advertising in Australia, we sold 14 suites out of 28 to Australians last month in The Statesman at 1 Parliament St and we are marketing more on The Statesman in Sydney next month and Melbourne in August."

City Sales has a marketing programme in the Sydney Morning Herald to advertise 52 units in the 229-unit The Statesman near the High Court. Studios are selling from $150,000 and two-bedroom units are priced from $320,000. The penthouses, each about 70sq m, were sold for $475,000 and $550,000, Dunn said.

Australians were keen to buy Auckland apartments because they could get a 7 per cent net return, compared with a 2 per cent return in Sydney.

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