Property

Section goes from $20 to $6200 in 10 months

A section in the Bay of Plenty town of Taneatua, purchased 10 months ago for $20, has resold for $6200.

Sunday, March 20th 2005

The 506 sq m site generated great interest when listed on the TradeMe internet site late last month.

The auction quickly reached its reserve of $1500 - the section's 2004 rateable value - and 40 bids were registered before it closed last Friday.

The property, which resembles an overgrown paddock and is indistinguishable from land alongside, was eventually sold to a bidder from Waitakere City.

According to information from Quotable Value, the section was sold in September 1994 for $500 and next changed hands in June last year for $20.

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SBS FirstHome Combo	6.74
Heartland Bank - Online	6.89
Wairarapa Building Society	6.95
Unity	6.99
Co-operative Bank - First Home Special	7.04
ICBC	7.05
China Construction Bank	7.09
BNZ - Classic	7.24
ASB Bank	7.24
ANZ Special	7.24
TSB Special	7.24

Unity First Home Buyer special	6.45
Heartland Bank - Online	6.55
SBS Bank Special	6.69
TSB Special	6.75
Westpac Special	6.75
China Construction Bank	6.75
ICBC	6.75
AIA - Go Home Loans	6.75
ASB Bank	6.75
Unity	6.79
Co-operative Bank - Owner Occ	6.79

SBS Bank Special	6.19
ASB Bank	6.39
Westpac Special	6.39
AIA - Go Home Loans	6.39
China Construction Bank	6.40
ICBC	6.49
Kiwibank Special	6.55
BNZ - Classic	6.55
Co-operative Bank - Owner Occ	6.55
TSB Special	6.59
SBS Bank	6.79

SBS FirstHome Combo	6.19
AIA - Back My Build	6.19
ANZ Blueprint to Build	7.39
Credit Union Auckland	7.70
ICBC	7.85
Heartland Bank - Online	7.99
Pepper Money Essential	8.29
Co-operative Bank - Owner Occ	8.40
Co-operative Bank - Standard	8.40
First Credit Union Standard	8.50
Kiwibank	8.50