Ponsonby Bungalow Fetches Over $6 Million After Stunning Renovation

An Auckland home, once labeled the “worst house on the best street,” has sold at auction for over $6 million, significantly surpassing its latest council valuation. The property at 109 John St in the Ponsonby suburb sold for $6,005,000 on Friday, representing a staggering increase of $3.58 million compared to its recent valuation of $2.425 million issued in 2024.

The bungalow, set on a 556 square metre section, has undergone a remarkable transformation, featuring a second storey, an additional bedroom, a double internal garage, and a swimming pool. This extensive renovation was designed by Jones Architects and has turned the once run-down property into a contemporary living space.

The previous owners, who purchased the home for over $2.17 million in October 2020, aimed to restore its former glory. They initially described it as a “do-up” with significant potential. However, their plans changed when they relocated to Sydney for a medical fellowship, leading them to sell the home in September 2024 for just above $2.32 million. At that time, the property had received several updates, including a new roof and bathroom, but still required considerable work.

According to Chris Batchelor, the Bayleys listing agent involved in the previous sale, the property was “very liveable and dry,” though it needed “a lot of TLC.” He emphasized that the real value lay in the land itself, noting that the property was a double site on two titles, one of the largest on John St.

By the time the property was auctioned again 17 months later, it had been completely reimagined. The listing highlighted its “elegantly traditional” facade and contemporary interior, showcasing features such as blonde parquet floors and a kitchen finished in Calacatta Vagli stone. The home now includes two living areas, a dedicated media room, a home office, a wine cellar, and four bathrooms, along with four double bedrooms. Notably, the master suite includes an en-suite bathroom and a walk-in wardrobe.

The financial specifics of the renovation remain undisclosed, but Batchelor previously indicated that large renovations, particularly those involving extensions and high-quality finishes, could cost several million dollars. He remarked, “If you put money into the project, you know you can’t go wrong out the other end.”

The auction results reflect the growing demand for premium properties in central Auckland. As the market continues to evolve, homes like the one on John St demonstrate the potential for significant appreciation, especially when combined with thoughtful renovations and strategic location. The success of this sale marks a notable moment in the Auckland real estate landscape, showcasing both the risks and rewards inherent in property investment.