A conservation estate in Whangarei Heads is one of a handful of new summer listings signalling renewed confidence in Northland's prestige market.
Future Isles agent David Maxwell, who is marketing the 34ha property at 14 Te Whara Way, Taihururu Cove, told OneRoof that after a quiet winter buyer enquiry from both local and international clients has picked up.
A lot of the overseas interest was from the US and UK, countries which are subject to the foreign buyer ban.
Maxwell said there were plenty of buyers on the agency's database waiting for an end to the restrictions.
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“They’d like to live here, but they don’t want to fully commit, as things change in their lives,” he said.
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Maxwell said the multi-million-dollar Taiharuru Cove estate had excited local buyers and he thought the property would appeal to conservation-minded Aucklanders looking to create a multi-generational retreat for their family.
The property has a CV of $5.3m, but Maxwell declined to comment on price.
The estate was bought in the mid-1990s after its owners searched the north for un-spoilt coastal land. A three-bedroom garage and lodge and then the main three-bedroom house, both in colonial Northland style and a studio on the beach were built over the years. The owners also planted over 70,000 native trees to add to the hundreds of ancient kauri trees.
The Taiharuru Cove houses sit on covenanted bush next to Kauri Mountain, where 70,000 trees were planted and pests eradicated. Photo / Supplied
The property was built in Northland colonial style using recycled heart rimu and stone from nearby Maungatoroto. Photo / Supplied
Finding their first kiwi on the land in 2002 prompted them to found Backyard Kiwi, which restores habitats and removes predators along the Whangarei Heads. From just 70 kiwi when the charity began, its latest population count has reached 1200, close to saturation the owner told OneRoof.
But the family are now selling the property because their next generation is not able to commit to living there. Instead the owners plan to build a smaller house on a nearby lot.
The colonial style houses are a nod to the architecture of Northland, the main house is clad in a local basalt from Maungatoroto and salvaged heart rimu beams were milled for the joinery and flooring. The couple used the same lighting designer who worked on luxury Northland golf lodge, Kauri Cliffs.
The owners have a very specific buyer in mind.
“[They] will buy it because they appreciate how real it is. It's very important that the vision to preserve it carries on. That's its key selling features, it is extremely unique.”
Bayleys agent John Greenwood, who is currently marketing the multi-million-dollar luxury estate at neighbouring Kauri Mountain Point, pins the growth in buyer interest to tumbling interest rates.
Interest has picked up this summer in the Glass House and the adjoining home at Kauri Mountain Point, which have been on the market since 2021. Photo / Supplied
Many buyers at the top of the market were concerned that the interest they earned on their cash investments was waning.
“That changes their attitude, they look at buying assets that have capital growth, ie property,” Greenwood said, revealing that he had been busy negotiating deals for three waterfront properties since Labour Weekend.
He said the foreign buyer ban was off-putting. “People buying recreational real estate want someone to love them. You’re buying for emotional reasons, but if part of that emotion is that the country doesn’t want you they move on real quick,” he said.
Ray White agent Ross Hawkins agreed. He spoke out last year against the Coalition Government’s U-turn on removing the foreign buyer ban but said that even if the ban were to be lifted now, it was too late for sales this summer.
“But I’m suspecting that because of the change of administration in the US last week we may see a number of Kiwi expats starting to filter back to New Zealand, which is good for the market," he said.
“We’re seeing them active on-line,” Hawkins said, adding that is why he pushes his vendors to continue marketing their properties over the Christmas close-down period to capture both expats home for the holidays, or more leisurely locals looking at options.
Hawkins said he was also acting as an agent for busy overseas buyers on the hunt for local properties.
“We see things that come on to the market, we’ve got our finger on the pulse. You’ve got knowledge of some off-market things which you can put in front of them before they’re exposed to the market,” he said.
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