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Christchurch Flippers Score $1.3M on Renovated Villa
Description
Flippers in Christchurch transformed a dilapidated earthquake villa into a million-dollar property, selling it for $1,305,000 after purchasing it for $715,000 six months prior. The three-bedroom villa on Corson Avenue in Beckenham underwent extensive renovations, including re-leveling, gutting, new kitchens and bathrooms, underfloor heating, and landscaping, while preserving its classic charm. The property attracted 78 viewings in two weeks and received a pre-auction offer of $1,100,000. At the auction, the property sold for $205,000 above the reserve and $375,000 above its rateable value, following 21 heated bids. The agent attributed the success to the flippers reputation for quality fixes and the high demand for renovated character homes among families and downsizers.
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