This house is minutes from Southland’s famous Oreti Beach but its “over $400,000” asking price is more than three times its rating valuation – and rising.
The property in Dune Crescent, Otatara, Invercargill, is featured in an unusual listing for a private sale on Trade Me, along with details of some of the many improvements needed.
Problems disclosed in the listing include the rotten iron on the garage roof, damaged tongue-and-groove flooring in three locations, sand in the ceiling, spouting in need of replacement, faulty wooden windows on the south wall and a water tank that often runs out of water. The listing also mentions a number of recent thefts.
It is described as a leasehold property, with the lease due to expire within 10 years (January 2032). A right of renewal is likely to be able to be…