Canterbury investment properties hard to move

The portfolio of 20 suburban homes, inner city apartments and townhouses, including individual two, three and four-bedroom properties was put on the market by Bayleys last month with most  vendors being property investors looking to sell for a variety of reasons including high debt levels and tax changes introduced in the Budget.

Six sold under the hammer at auction and one other is currently under contract, Bayleys Canterbury residential manager Phil Hayes says.

He says the majority of interest came from other investors, as opposed to owner occupiers or first home buyers.

"A couple of investors bid on several of the properties; there was broad interest."