A modern house in the Coromandel’s most expensive beach town has sold under the hammer for $2.012 million – more than $800,0000 above its RV after two Auckland couples battled it out to secure their dream holiday home.
The on-site auction for the Diana Avenue property in Whangamata at the weekend is only the third successful auction in the popular beach town this year.
It’s a stark contrast to 2022 when a raft of properties were selling under the hammer including a three-bedroom beachfront property on Tangaroa Road that sold in July last year for $6.52m, which was $2m more than its rateable value.
The $6.52m sale price was the highest sale price for Whangamata last year, almost $1m shy of the record $7.41m paid in June 2021 for a four-bedroom beachfront bach on Seaview Road.
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However, the four-bedroom, two-bathroom Diana Ave home attracted a lot of interest with 37 groups viewing it during the one-month campaign, Harcourts Whangamata owner Paul Prouse said.
The property, marketed by Hayley Hayward, last changed hands in 2017 for $790,000, but had recently been extended and renovated.
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Bidding opened at $1.3m, paused at $1.8m, was announced on the market at $2m, and finally sold for $2.012m. The bids got smaller and smaller with a final $2000 bid securing it for the new owners.
Prouse said it was a good location, being just two streets back from the beach and two streets back from the main street.
“It was a half site, but a nicely presented property.”
Prouse said a lot of properties this year have either been sold with an asking price, price by negotiation or by deadline sale. But he believed in the next few months there would start to be a shift back to auctions.
"Anybody looking for a great result through competition needs to seriously consider auctions."
The Diana Avenue showed how effective a well-run auction campaign could be and also reduced the days the property was on the market.
Last week a property on Ajax Ave, in Whangamata, that was bought 20 years ago for $250,000 sold for $1.3m to a local family.
- Click here to find more properties for sale in Whangamata
