A modest two-bedroom brick property has gone under the hammer for more than double its CV, with the Auckland house now set to be bulldozed by its new developer owner, NZ Herald reports. The sellers were left “flabbergasted” when the Point Chevalier house sold – for $4.29 million. It was the first time the Point Chevalier Rd home had been on the market, having been owned by the same family for 80 years. According to experts, a shortage of available homes, combined with near record low interest rates, is continuing to fuel house prices nationwide.