Recent auction sales in the Bay of Plenty have shown buyers are on the hunt for high-end homes in beach towns outside of Tauranga.
An ocean-side Whakamarama home, 45 minutes out of Tauranga, sold under the hammer for $3.13 million.
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The stylish four-bedroom home at 329N Plummers Point Road was marketed by Bayleys agents Craig Orr and Jan Hodges.
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Orr said there were six registered bidders at Bayleys auction last week, with two people actively bidding. After an opening bid of $2.55 million, the property quickly passed the reserve price of $2.87 million.
The new owner is a Bay of Plenty local who outbid an Aucklander to secure the waterfront home.
The 370sqm house had its own hot water bore to heat both the house and the 20 metre swimming pool, with an updated kitchen, bathrooms, carpets and new paint. The buyer loved being by the water, Orr said.
“It was the position, the water view, cycling tracks and a nice peaceful setting,” he said.
83 Paparoa Road, near Whakatane, sold for more than $2.3 million. Photo / Supplied
“The higher-end price bracket, from $2.5 million and over, is really buoyant right now but investors and first home buyers have slowed down a bit.”
Another coastal property just 20 minutes from Whakatane, sold under the hammer this week for just over $2.33 million.
The three-bedroom home at 83 Paparoa Road was marketed by Bayleys agents Rhys Mischefski and Mikaela Pinkerton, who said there were three bidders in the room.
92 Eighth Avenue, in Tauranga, fetched $2.665 million – more than $1 million above its RV – at auction. Photo / Supplied
The lifestyle property includes an outdoor spa, 10 paddocks, horse arena, stables and farm storage.
The sale price was $532,500 above its rateable value of $1.8 million.
“There are people who will pay good money, and anything above $1.5 million is good money here,” Mischefski said.
Another high-end Bay of Plenty home selling under the hammer at Bayleys’ auction was a four-bedroom bungalow at 92 Eighth Avenue, in Tauranga.
Marketed by Carmen Dickison, the property fetched for $2.665 million – more than $1 million above its 2018 RV.
