- A luxury bach in Akaroa sold for $3.59m after an intense auction between two bidders.
- The winning bid was made by a Christchurch buyer intending to use it as a holiday home.
- Interest in Akaroa properties is rising, especially among Canterbury buyers, with demand for prestige homes.
A luxury bach in Akaroa sold under the hammer for $3.59 million after two bidders went head-to-head in an intense auction.
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Harcourts Gold listing agent Cameron Bailey told OneRoof the architecturally-designed home on Monarch Drive, in Robinsons Bay, was one of the best in the area, and he wasn’t surprised by the result.
The property had attracted a lot of interest during its two weeks on the market, with a pre-auction offer of just over $3.23m bringing forward the sale date.
Last week’s auction for the modern four-bedroom, three-bathroom home soon turned into a battle of wits between two rival buyers, with the bids coming in strong and fast.
The impressive four-bedroom, three-bathroom home on Monarch Drive was built in 2019 by Metzger Builders. Photo / Supplied
The winning bid was made by a Christchurch buyer who intends to make the impressive house their holiday home.
“It was just a wonderful house in an amazing location with exceptional views,” Bailey told OneRoof, explaining that the sale price – Akaroa’s fourth highest – was more a reflection of the property’s qualities rather than the result of changes in the local market.
“I think this is a very unique and special property. I think that’s the difference – in my 20 years of real estate – no matter what the market is doing, good properties are always good properties.”
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Bailey said there had been a lot of interest from holiday-home buyers, retirees and locals looking to upgrade.
The agent has just listed a three-bedroom home at 34 Pawsons Valley Road, in Duvauchelle, which was built by the same architect who designed Monarch Drive. It is priced at $1.89m.
“It would be perfect for someone retiring to Banks Peninsula or as a holiday home as well.”
Bayleys agent Chris Mangels told OneRoof he had sold two Akaroa properties at auction in the last two weeks. One was a four-bedroom Edwardian villa on Rue Jolie which was snapped up by local buyers for $1.17m and the other was a near-new home on Totara Drive, which was picked up by Christchurch buyers for $800,000.
Local buyers paid $1.17m for an early 1900s Edwardian four-bedroom, two-bathroom villa on Rue Jolie, in Akaroa. Photo / Supplied
The four-bedroom, two-bathroom home is in the heart of Akaroa’s heritage precinct. Photo / Supplied
Mangels said he noticed an uptick in interest in the area, mostly from Canterbury buyers, and at the $1.5m-plus end of the market. However, there were not enough prestige homes to satisfy the demand.
“I think that’s probably the easiest selling part of the market,” he said.
The lower end of the market in Akaroa had noticeably changed following the latest cuts in interest rates.
“I think buyers re-evaluated where they were money-wise - could they afford to buy a holiday home in Akaroa? It seems like they can with the interest rates coming down. It’s getting quite vibrant.”
Some properties that had been sitting on the market for some time are now starting to shift. In the last few weeks, multi-offers were made on three different properties and all sold for either asking price or above.
A near-new bach on Totara Drive with impressive views over Duvauchelle sold under the hammer for $800,000. Photo / Supplied
“I think it’s just become more affordable. The interest rates are in the sweet spot for holiday-home buyers and all the indicators are that the market, if anything, is going to pick up again.”
Properties that were well presented, easily accessible with good views were in demand, he said, such as a newly renovated three-bedroom, one-bathroom house at 44 Selwyn Avenue, in Akaroa, which was already attracting good interest.
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