- They bought it for $530,000 in March, and by October had sold their modest villa for $900,000.
When the young Wellington couple, who specialise in renovations, bought the two-bedroom home in Burma Rd, Khandallah, it had a rateable value (RV) of $435,000. By the time they had renovated it and had it revalued, the RV had jumped to $600,000.
Harcourts vending agent Julie Hurley said the final sale price of $900,000 – 50 per cent above the new RV – reflected Wellington’s buoyant market in which supply was short and buyer competition high.
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