A blue-coloured bach in Omaha has sold under the hammer for $1.3615 million - almost half a million dollars above CV.
The two-bedroom 1980s-build house, which sits on a 640sqm section, was the subject of fierce bidding for five active bidders at Bayleys' auctions on Wednesday.
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10 Kitty Frazer Lane, which was marketed by Bayleys agent Victoria Turner, is a rare example of a classic Kiwi bach in the popular beach suburb north of Auckland.
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The property, which is zoned as a single house residential, is ripe for development, with Turner saying a new owner could extend, build new or simply landbank.
OneRoof records show the bach last sold in 2003 for $390,000, handing the vendor a profit, on paper at least, of almost $1 million.
10 Kitty Frazer Lane is close to the beach. Photo / Supplied
A more modern, four-bedroom Omaha bach - also painted blue - later sold under the hammer for $1.9 million - $625,000 above its 2017 CV.
According to the listing for 22 Caroline Heights, the vendors bought the property 25 years ago and carried out extensive renovations.
The property was marketed by Bayleys agents Paul Elsden, Joneen Smith and Jodi Sterling and has a split-level design and a double garage.
Although notable sales, they are short of the record this year. Last month television presenter Paul Henry and his rich-lister wife Diane Foreman sold their Omaha beach house for a record price over $7 million.
The price for the luxury four-bedroom "bach" at 9 Karahu Lane, designed for fashion designer Trelise Cooper, exceeded Omaha's biggest sales of the last two years.
22 Caroline Heights, in Omaha, sold for $1.9 million. Photo / Supplied
House price figures from OneRoof's Property Report, published earlier this week, show property values in Omaha have risen more than five percent in the last six months, to a new median of $1.6 million, and gained around $475,000 over the last five years.
Over in Muriwai, west of Auckland, another two-bedroom blue beach house sold under the hammer for $965,000, just above its $900,000 CV.
The 69sqm home, which sits on a large 883sqm site, at 83 Domain Crescent last sold for $882,500 in 2018.
Bayleys agent Simon Spiller said the humble 1950s bach was rented as an AirBnb and had been modernised to provide easy-to-care living.
