A four-bedroom Hamptons-inspired home just across the water from Omaha sold for more than $2.5 million after just three days on the market.
The house, which sits on a 2900sqm section and has a 2017 CV of just over $1.8 million, was snapped up by a local family and is emblematic of subtle shifts taking place in the holiday spots frequented by wealthy Aucklanders.
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Bayleys agent Kellie Bissett, who marketed the Point Well home, says there’s increased demand for homes in the region.
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“It’s been a stellar year,” she says. “Last week we sold a beautifully renovated home that had been on the market for only three days.”
Bissett says homes on large sites in Point Wells typically sell for more than $2 million, even when they are not on the water – up from $1.5 million to $1.9 million a year ago.
She says the village, which is about an hour’s drive from Auckland and about 15 minutes from Warkworth, was even luring home-owners from Omaha.
“Some people are coming across from Omaha, stepping up and moving around the area. Others are local families who want to be close to others and get the bus to Matakana school,” Bissett says.
“But there are always people who miss out, there is very little stock.”
Last month she sold a contemporary home on a 2,000sqm section at 67 Point Wells Road for $2.3 million at auction – more than $600,00 above the CV.
67 Point Wells Road sold for $2.3 million at auction in August. Photo / Supplied
Victoria Turner, also from Bayleys, agrees that lack of stock is a challenge in Omaha – and that’s pushing people out to Point Wells, especially retirees. “With a surge of buyer demand, we are seeing a shift across the causeway to Point Wells,” she says.
She’s noticed more enquiries from Aucklanders wanting the “quarter-acre dream” by the coast, although the region is also popular with young families, empty nesters and retirees.
Turner says there has also been a noticeable spike in section sales in Point Wells since the first lockdown earlier in the year.
According to OneRoof data, Point Wells’ highest settled sale price this year is $3.4 million – nearly $1 million below Omaha’s biggest settled sale this year, although a beachside mansion in Omaha sold for a reported $7.25 million in February but has yet to settle. A four bedroom luxury bach at 9 Karahu Lane owned by entrepreneur Diane Foreman and TV presenter Paul Henry may beat that record next month.
Bayleys agent Paul Elsden says that a few Omaha homeowners have cashed up and moved across to Point Wells, but they are generally permanent residents rather than second home or holiday owners.
He’s definitely noticed more out-of-towners now looking to become semi-permanent in the area.
“We’ve had a lot of auctions brought forward as people want to secure something. And prices [under the hammer] are well above the pre-auction offers,” he says.
Elsden says that properties have been selling incredibly fast over the past three months, with stock now at the lowest level he’s seen in 12 years – with just seven houses and one section for sale in Omaha.
317 Takatu Drive, between Point Wells and Omaha, sold after competition from four buyers. Photo / Supplied
Amy Wagstaff, Harcourts Warkworth and Snells Beach director and branch manager, says Point Wells properties are “flying out the door”.
“What’s desirable is that they are quite big sections, good and dog-friendly and kid friendly, beautiful if you’re a gardener. It’s got that semi-rural feel on the water, rather than Omaha, which is beachy.”
Wagstaff says that while there is still “a good contingent” of retirees in the market, the village is attracting young local families who want to get more section for their money and still be in Matakana School zone.
“We could sell way more than we have. Buyers are always asking us for Point Wells, we only get so many listings,” she says.
“We’ve got buyers coming out our ears.”
On the market: The Omaha holiday home owned by Diane Foreman and Paul Henry. Photo / Supplied
Premium agent Jim Mays says that buyers are looking for country properties with the views, rather than the sandhills of Omaha. He recently sold a property at 317 Takatu Drive, between Point Wells and Omaha, with four buyers competing via tender.
Mays says the attraction of Point Wells, and the new Estate, is that “99 percent are quality homes.”
“We’re not seeing droves of people coming over, but we are seeing some. They’re not big ostentatious homes, they’re just quality good homes.”
Ray White sales agent Sue Hatton says she has buyers from Ponsonby and Herne Bay moving to Point Wells because they can get a larger section. She says buyers are on the hunt for older 1970s or 1980s homes that can renovate.
“It’s an old-school village, but it is starting to morph. It’s a real cute little area.”
The range of prices are also attractive. Sections in the new estate are selling for $635,000 and a 1950s house in 9 Williams Crescent sold in January for $965,000.
“Post-Covid, people are making lifestyle decisions,” she says.
