Last week a prestige property in Fendalton sold at auction on that uninsured basis for $2.4 million - more than $600,000 above its RV. "There are still a lot of properties that haven't settled with EQC and are still coming to market," says Steve. After an opening bid of $1.8m, the Clyde Road home then went to negotiations and sold for $2.4m. A four-bedroom home in Fendalton sold for $2.4m under the hammer, above its $1.785m CV. Meanwhile, a much newer but smaller property south of Christchurch sold under the hammer for $745,000, with bidding starting at $600,000.

Source: Otago Daily Times July 12, 2021 20:32 UTC