- A vintage bach overlooking Lake Taupō sold for just over $2m, nearly $1m above CV.
- Bayleys agent Alison Whittle received 10 offers, highlighting the strength of Taupō’s market.
- The three-bedroom bach was purchased by an Auckland buyer amid strong competition from other buyers.
A vintage bach overlooking Lake Taupō has sold for just over $2 million – almost $1m above CV.
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Bayleys agent Alison Whittle said the buyer response had been “nothing short of phenomenal”, telling OneRoof she had received 10 offers on the 1960s-era holiday home.
“To have this many serious buyers speaks volumes about the strength of Taupō’s market. I was absolutely blown away,” she said.
The three-bedroom, one-bathroom bach had undergone a tasteful renovation. Photo / Supplied
Whittle and co-listing agent Alisa Elsley had shown more than 100 groups through the home, with 44 turning up on the first day. “We were flat out,” she said.
The three-bedroom bach on Rainbow Drive, at Taupō’s Rainbow Point, was snapped up by an Auckland buyer, who faced stiff competition from other Aucklanders and buyers from Hawke’s Bay.
The sale price of $2.137m exceeded the expectations of the vendors, who bought the bach for just $320,000 more than 20 years ago.
Whittle said the views and the home’s character were huge drawcards, while Bayleys Taupō marketing manager Matt Westerman said the sheer number of people at the open homes was “crazy” and demonstrated the strong demand for homes at Rainbow Point.
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Westerman said properties with coveted lake views in the neighbourhood were usually tightly held. “When they do come up there’s quite a bit of interest, but [the interest in Rainbow Drive] was significantly more than anybody really expected.”
He said that it was unusual for a Taupō home to attract 10 offers, many of which were unconditional. “To have that many offers on the table is unreal. I haven’t heard of it in my time.”
The 1960s bach was on a corner site directly across the road from Lake Taupō. Photo / Supplied
Westerman said Rainbow Point was a popular spot for holiday homes in the 1960s and 1970s. “There’s still a bachy feel to the suburb. A lot of people, when they are doing their renovations, will choose to keep to the character of the suburb.”
Still up for grabs at Rainbow Point with Bayleys is a modern five-bedroom, four-bathroom lakefront property at 39 Rainbow Road. It has a CV of $4.09m and goes to auction next month.
A six-bedroom, two-bathroom home at 1/8 Chad Street and a three-bedroom, two-bathroom renovated Lockwood home at 4 Kathleen Place are also on the market, and for sale by negotiation.
- Click here to find more properties for sale in Taupō