An “entry level” property in a popular Coromandel hot spot sold under the hammer for $1.24 million and a “classic” bach in the neighbouring Cooks Beach fetched $1.51m.
The small two-bedroom property on Margot Place sold for about $500,000 over its rateable value, while the larger three-bedroom, two bathroom Cooks Beach property, just a street back from the beach on Riverview Rd went for almost double its RV.
A significant number of properties were passed in at auction houses around the country this week, there were still a number of multi-million-dollar sales signed, sealed and delivered in some regions including Auckland, Hamilton and Queenstown.
Bayleys Whitianga agent Lea Jurkovich, who sold the Hahei and Cooks Beach houses, said demand was still extremely strong in the Coromandel with a total of 12 bidders on both properties combined.
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It was the first time the Cooks Beach property had been on the market in 61 years, and 40 years for the Hahei bach, making them extremely unique, she said.
“These properties never come up – that's why they sold so well and there’s still continued demand. It doesn’t seem to matter what’s happening in the rest of the country, that’s what’s happening there.”
This Riverview Road home, in Cooks Beach, had not been on the market in 61 years. Photo / Supplied
Hahei was “an extremely tightly held market and people were really scrambling to get in there”, she said.
The entry-level Margot Pl property, which was a small 58sqm house, would be the cheapest property she sold in Hahei this year due to it having such a minor dwelling on it.
“We’ve gone from entry level to $1m to entry level to $1.5m / $1.6m and that just happened virtually overnight.”
The buyers were looking for secondary homes, while others had been advised by their accountants to invest in coastal property, she said.
Jurkovich recently sold a property just under $3m to a person acting on that advice and bought it sight unseen.
In central Auckland, a Wood St house in the sought-after Freemans Bay sold at a Bayleys auction for $3.35, while a nearby heritage village complete with pool on John St, in Ponsonby went for $3.16m.
The Wood St home boasted four bedrooms and three bathrooms and was described in the selling ad as being “substantial, contemporary and cool”.
An “immaculate” villa on John Street, in Ponsonby, in Auckland, sold under the hammer for $3.16m. Photo / Supplied
Bayleys selling agent Joe Telford said the interest levels weren’t as high as he would have expected for that type of “ultimate lock and leave” property, which was a sign of the current market.
The majority of interest in the property had been from conditional buyers so the winning bidder was the person who had been able to bid at auction.
“The resounding interest was with people with older kids just because of the layout of the home. And it’s quite unique for Freemans Bay, obviously not just being a stock standard villa.”
Meanwhile an architecturally designed property on John St in Ponsonby, described on OneRoof as being “immaculate and ideal retreat for the urbanite” within steps to Jervois Road's dining precinct and zoned for Ponsonby Primary and Intermediate, sold at the same Bayleys auction for $3.16m.
Two Mt Eden villas were also snapped up at a Barfoot and Thompson auction this week with a three-bedroom 1800s villa on Tongariro St selling for $2.82m and a four-bedroom 1920s-character home on Wairiki Rd netting $2.75m.
A two-bedroom cottage on Buckingham Street, in Arrowtown, sold for $1.475m. Photo / Supplied
Further south, a 366sqm home on a 13,040sqm section zoned for future urban development on Grace James Rd also hit the $3m bracket at a Barfoot and Thompson auction this week – earning its owners almost $2.3m from when it last sold in 2007.
There are currently two other properties for sale on Grace James Road – commonly referred to as Pukekohe’s golden mile. https://www.oneroof.co.nz/42-grace-james-road-pukekohe-franklin-auckland-1749253
A Te Kowhai lifestyle block near Hamilton was also sold at Bayleys’ Hamilton auction room on Thursday for $2m. The large 6000sq boasted a four-bedroom family home, a second two-bedroom dwelling and 14 paddocks.
Demand for properties remains high in central Otago with a three-bedroom, two-bathroom townhouse with impressive views on Earnslaw Tce selling for $1.46m. Arrowtown’s popularity continues with a quaint two-bedroom, two-bathroom cottage on Buckingham St going for $1.475m.
