Snow lovers wanting to purchase a winter holiday home for less than $500,000 need look no further than quirky A-frames, interesting old school houses and wooden yurts in the popular North Island ski town of Ohakune.
Several properties listed for sale in the Ohakune have recently had significant price reductions as sellers adjust their expectations to get their properties sold.
It may not be as shiny as Wanaka or Queenstown, but Ohakune offers some of the country’s best vegetables, giant eclairs, an ever expanding carrot-themed playground, numerous bike tracks and – perhaps most importantly - is just a short drive to Mt Ruapehu’s two skifields.
The town, which has an average property value of $577,000, is a much more affordable location for a holiday home than other North Island holiday hotspots such as Omaha and the Coromandel.
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NZR Ohakune agent Kath Campbell said Ohakune was a “funny market to read” because there was still strong demand for family homes, even as second homes, while chalets – which included those on cross leases, A-frames, unit titles – were not selling as quickly.
Campbell said while the market had flattened, prices had not necessarily dropped. “We kind of went dead mid-December when the new [CCCFA lending] rules came in and, of course, we’ve got interest rates [rising]. It’s still hard for first-home buyers and people who don’t have a 20% deposit.”
The snowfields at Ruapehu. Photo / Getty Images
Ohakune is famous for its giant carrot. Photo / Getty Images
However, as the ski season draws near, out-of-towners from Auckland, Hamilton and the Bay of Plenty less affected by the financing rules have started to look in the area again.
“In saying that we are actually getting a little bit busier as we speak. That’s historically what happens here as well. As we get closer to the season and both sides opening we see a pick up in real estate.”
Her agency barely has any listings for standalone family homes in Ohakune, but has a number of chalets including A-frames for sale offering buyers a cheaper, low maintenance option.
In Turoa Village, an iconic A-frame is taking enquiries over $350,000, while a three-bedroom ski house has a price indication of mid-$400,000s and a two-bedroom chalet is priced at $390,000.
An entry-level home in Ohakune starts at about $400,000 – but those willing to travel a few more kilometres down the road to Raetihi or Rangataua can get much better value for money. Even nearby National Park which feeds into Whakapapa skifield is a cheaper option.
A three bedroom, one bathroom home on 44 Pitt Street in Raetihi is for sale for $349,000, while a four-bedroom, one-bathoom railway cottage at 43 Railway Row on a similar sized section in Ohakune is taking enquiries over $680,000.
A two-bedroom A-Frame at 51 Matai Street, in Ohakune, Ruapehu, is looking for offers over $350,000. Photo / Supplied
A three-bedroom chalet for sale at 2/27 Totara Street, in Ohakune. Photo / Supplied
Several lifestyle blocks have recently sold for around $900,000 – but very few properties in the area sell for over $1 million, Campbell said.
Bayleys Ruapehu selling agent Jenny Dekker said Ohakune was becoming an all-year-round destination and offered good value for money for those looking to buy a holiday home and create memories.
Dekker said those looking at the lower-end of the market could get an A-frame for between $330,000 and $360,000 or a standalone house 11kms down the road in Raetihi for the same price.
House prices in Raetihi and the “up-and-coming" Rangataua are usually $100,000 cheaper, she said.
In Ohakune, a standard house is between $500,000 and $600,000, while those looking at the higher-end of the market could pick up a beautiful, brand-new four-bedroom, two-bathroom home with a mountain view for between $600,000 and $700,000.
Dekker said properties priced well are still selling and there are some “quirky” properties to be found at affordable prices.
A three-bedroom yurt at 4 Hebe Lane, in Ohakune, has a price tag of $650,000-plus. Photo / Supplied
Another three-bedroom yurt, at 128A Miro Street, in Ohakune, is looking buyers with budgets of $455,000-plus. Photo / Supplied
She is currently selling an older yurt at 128A Miro Street and a brand new yurt at 4 Hebe Lane.
Dekker said they are great buys and are “absolutely unique” eco-friendly properties that are surprisingly spacious with impressive mountain views.
She also has an old school house at 26 Shannon Street, which is for sale at $495,000 and is described as having “super-sized character” on a 1012sqm section.
“You don’t need something that looks like it belongs in Papamoa for $800,000, you don’t need that. Come get a bach, put the fire on and have fun.
“I will sell the $800,000 house tomorrow don’t worry, but we are not trying to compete with Queenstown or Arrowtown with the high prices because we’ve got a mix.”
People who buy in Ohakune love it and want a place where they can make memories for their kids, she said.
The ever-expanding Carrot Adventure Park is a hit with both the young and old and there are also plenty of dining options including some new additions.
The new owners of Johnny Nation’s The Chocolate Eclair Shop are still making the massive eclairs, pink buns and donuts, while The Blind Finch Hamburgeria and Bakehouse has expanded with the burger restaurant remaining at the existing site and the new Birchhill Bakehouse opening down the road.
The long-running Mountain Kebabs still remains along with Osteria, Powderkeg and Cypress Tree are also favourites with locals.
“There’s a reasonable New World, there’s a liqour store, a couple of bakeries, bars – it's great,” Dekker added.
