- A waterfront home on Lake Taupō sold for $4.15m after heated bidding.
- The five-bedroom Rainbow Drive home was purchased by a family upgrading from a nearby property.
- The sale is Taupō’s third highest, with strong interest from Wellington, Taranaki, Auckland and Hawke’s Bay buyers.
A waterfront home on Lake Taupō sold for $4.15 million last week after heated bidding from duelling buyers.
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The five-bedroom home on Rainbow Drive, in Taupō’s Rainbow Point, was snapped up by a family who already own a property nearby and wanted an upgrade.
The under-bidders were from Hawke’s Bay and on the hunt for a lakeside bach.
The five-bedroom, two-bathroom home was built by the vendors 25 years ago. Photo / Supplied
The property enjoys all-day sun and was built to maximise the lake views. Photo / Supplied
Bayleys listing agent Grant Bayley said Rainbow Point homes were desirable and expensive, adding that very few reached the open market.
“When they do come up, they tend to be very popular,” he told OneRoof.
The $4.15m sale price is the town’s third highest, with the record held by a property on Pataka Road that sold for $5.05m last year.
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The Rainbow Drive vendors built the house 25 years ago after retiring from farming.
Bayley said people liked Rainbow Point because it was on the sunny side of town and offered easy access to the water.
The interest had come from “far and wide”, including Wellington, Taranaki, Auckland and Hawke’s Bay. They all wanted to be on the lake or as close to it as they could.
Rainbow Point has some of the most expensive houses in Taupō. Photo / Supplied
The sale comes just weeks after another property in Rainbow Point, just across the road from the lake, saw unprecedented numbers through its doors and received an impressive 10 offers. The original 1960s bach far exceeded the owners’ expectations when it sold for $2.137m.
Bayleys agent Alison Whittle told OneRoof at the time that the buyer response had been “nothing short of phenomenal”.
“To have this many serious buyers speaks volumes about the strength of Taupō’s market. I was absolutely blown away,” she said.
- Click here to find more properties for sale in Taupō
