There are few spots of waterfront in Auckland you could call forgotten in this heated housing market but homes around the upper reaches of the Tamaki Estuary might fit that bill, reckons Ken Ralph, Ray White’s Bucklands Beach branch manager and auctioneer.
While other parts of his patch – like Bucklands Beach itself, Eastern Beach, Mellons Bay, Cockle Bay and Shelly Park – are more popular, homes in the Tamaki Estuary don’t get a lot of notice.
But neither do they often come up for sale. One which sold under the hammer in February had been with the same owner for 57 years.
That was 30 Swan Crescent in Pakuranga, a 708sq m site with a four-bedroom home looking towards the water which went for $1.5m after 26 bids.
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Other waterfront sales in lesser sought-after areas include 38 Fremantle Place in Pakuranga, a three bedroom home on a 590sq m section which sold for $1.36m in April though it looked out to a more limited water view.
“(But) there are few properties that come to the market along these parts of the Tamaki River,” Ralph says.
Water view: 38 Fremantle Place, in Pakuranga, Auckland, sold in April for $1.36m. Photo / Supplied
While Millen Avenue, for example, looks out to water views, but also takes in Panmure Bridge, there have been no recent sales, although some of the larger sections have been tested but have not met vendor price expectations.
Buyers who appreciate a water view and look at these homes probably can’t compete for the top areas in the Eastern Beach suburbs, but they still get a delightful home with those water views.
Depending on the property the price is probably under $2m whereas waterfront homes in the more sought-after suburbs are likely to be in the latter part of the $2ms or more.
The Parade in Bucklands Beach is the prime waterfront address in Ralph’s patch as it looks out to Half Moon Bay Marina and past the Glendowie Headland to Rangitoto.
Confidence in this part of the eastern suburbs has been clearly shown in recent months with the redevelopment of new, substantial residences, such as, 28 The Parade, Bucklands Beach, a 1071sq m site which sold in March for $3.2m.
28 The Parade, in Bucklands Beach, Auckland, fetched $3.2m in March. Photo / Supplied
Neighbouring 55 The Parade sold in November for $3.48m. Photo / Supplied
Another, which sold in November last year for $3.48m, was number 55 The Parade, 888sq m of land and house which had been with the same owner for 50 years.
Across on the Eastern Beach waterfront redevelopment has also seen substantial new residences which look out to Waiheke.
9 The Esplanade was an 868sq m section with the original cottage which had been 60 years with the same owner and that sold under the hammer in April after 19 bids for $3.65m, but, again, not many properties come to the open market along this stretch of waterfront, Ralph says.
With some of the new developments along or near the waterfront instead of one house, now there are three or four big homes, all selling in the high $2ms to $3m price range.
Sam Rosenberg, branch manager for Bayleys Howick, says the eastern beach suburbs are Auckland’s best kept secret.
9 The Esplanade, in East Auckland, sold under the hammer in April after 19 bids for $3.65m. Photo / Supplied
Six months ago demand was humming along but now he calls demand steady, putting that down to the seasonal change.
A number of positive things are happening in the area, he says, and one is the expansion of the eastern bus route.
The Panmure Train Station, which goes to Britomart, is going to have a big bus stop with a dedicated bus road all the way to the eastern suburbs, and there is also the ferry terminal in Half Moon Bay.
Then there are the beaches themselves which are beautiful sandy beaches that are possibly not that well-known.
“I’ve been taking the kids out there on hot sunny days and they have a great time.”
All roads lead to Howick Village which is great for cafes and restaurants, and the area has an interesting mix of Kiwis from diverse ethnic backgrounds.
The majority of buyers are Aucklanders with the vast majority being locals moving around either upgrading or downsizing.
Rosenberg also says there is a lot of interest in land that can be developed.
“Some of the suburbs we’ve got single house zones and there’s just no way that could happen but what we are seeing is where the opportunities are there, there are some very good changes.
“I’d go so far as to say we’ve got some developers that are eyeing this area up as a really good opportunity to put their mark on this part of the world and enhance it.”
