A luxury bach has sold under the hammer for $4.52 million - less than a year after the owners picked it up for $3.85m.
The distinctive black four-bedroom house in Omaha sits one house back from the beach and was finalist in the 2019 World Architecture Awards.
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It last sold in July 2020, and its sale price at Bayleys auction this week handed the owners a $670,000 profit, on paper at least.
The property was listed with Bayleys agent Victoria Turner both times, and had a 2017 CV of $2.6m.
Bayleys Warkworth branch manager Raymond Barnes said that the beach town, which is popular with wealthy Aucklanders, had enjoyed a “solid uplift” in prices in the last 12 months.
The latest OneRoof house prices figures show the town's median property value had jumped 28% to just over $2m since the Covid-19 national lockdown was lifted - the equivalent of $435,000.
The stunning bach was a finalist in the 2019 World Architecture Awards. Photo / Supplied
Barnes told OneRoof: “We had a different market a year ago and it’s clear the market has bounced. The vendor had such success."
He added that demand for beachside properties and the lack of listings in Omaha were putting upwards pressure on the prices.
The auction for the Taumata Road property was brought forward after a pre-auction offer of $4.5m was made, just six days after it was listed.
The house was snapped up by an Auckland buyer.
Barnes said that vendors were not moving far, though. "They were not on the hunt for anything else and [the Taumata Road property] was going to be their forever home but they happened to find another property on the waterfront in Omaha,” he said.
The bach was bought by an Auckland buyer. Photo / Supplied
Turner said that the sale price was new record for an Omaha house one house back from the beach. “It reflects the current market and it is continuing to move strongly, "she said.
She added: “High quality and good positioned homes are in demand."
