There’s been a surge in properties listed for sale in some of the Coromandel’s most sought-after hotspots just in time for the region’s busy holiday season.
The number of new Coromandel property listings on OneRoof for November has risen by 39% since May when stock levels over winter were extremely low.
It is also 14% higher than when the market was at its peak a year ago and 106 properties were listed on OneRoof compared to 121 the same period this year.
Harcourts Pauanui business owner Alyce Rowe said between October and December they had listed 14 properties including three new listings this week compared to the earlier three-month period when just four new properties came online.
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“The listing levels are still low, but certainly a lot more than this time last year.”
When Harcourts opened the Pauanui branch in 2015 there were between 60 and 80 properties for sale in the town and numbers are currently hovering around 40 and 50 listings.
However, despite talks of a recession, Rowe said the homeowners they are speaking with aren’t selling because they are in financial strife and instead have genuine lifestyle reasons to sell.
Several owners are wanting to selling their Pauanui homes so they can spend more time on their boats, one is downsizing, one is planning a permanent move to the area and has purchased a larger property on the same street, and another has decided to sell the family bach on McCall Avenue after many years.
During the Global Financial Crisis, Rowe said people tended to hang onto their beach property and sell their city property because it was easier to get back into the Auckland market compared to the coastal market where there were fewer houses for sale.
“The prices tend to hold here,” she said.
A three-bedroom brick and tile home for sale at 338 Waterways Parade, in Pauanui. Photo / Supplied
A four-bedroom house at 13 Coutts Road, in Pauanui, is listed for sale by price negotiation. Photo / Supplied
The other new listings include a three-bedroom, two-bathroom home at 338 Waterways Parade and a large four-bedroom, two-bathroom home near the Pauanui Club at 13 Coutts Road.
While there is a real mix of properties on the market, there is nothing available for under $1 million.
Harcourts Cooks Beach salesperson Paulette Tainsh said there had been a lift in the number of properties for sale in Cooks Beach due to more properties coming onto the market and those already on the market taking longer to sell.
“Things aren’t selling as quickly so they stay on the board.
In the last month she had a number of new listings including a three-bedroom, two-bathroom home at 931D Purangi Road on a large 1677sqm section to be auctioned next month and an easy-care, lock-up-and-leave bach at 49 Longreach Drive that has an asking price of $1.3m.
Tainsh said people often saw the start of summer as a good time to sell because the town is so much busier.
“We go from 450-odd people to thousands of people through that time so you are getting a lot more exposure for your properties.”
931D Purangi Road, in Cooks Beach, goes to auction on January 14. Photo / Supplied
49 Longreach Drive, in Cooks Beach, has a price tag of $1.3m. Photo / Supplied
There is range of properties to choose from, she said, with the exception of lifestyle and rural properties which are still very scarce.
First National business owner Gordon Turner hasn’t seen a “marked drop” in prices, but said there had been a definite increase in the number of listings in Whangamata, Tairua, Whitianga and Waihi Beach in the last four weeks.
“Before that it was pretty tough,” he said.
Along with the usual reasons such as people moving into a retirement home or parents selling due to the kids not coming to the beach anymore, there are also a lot properties coming on because people don’t think they can’t afford to keep the bach with the rising interest rates.
“But the ones where we can see in the middle of next year we are going to be really struggling that sector of the market is increasing.”
However, over in Hahei it is still slim pickings with just nine listings on OneRoof for the area.
Bayleys agent Lea Jurkovich said there is still a shortage of properties on the market across the board.
“It’s still very tightly held.”
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