A luxury waterfront home in one of New Zealand’s most popular beach suburbs has smashed house price records, selling this week for $9.525 million.
The four-bedroom house on Marine Parade, in Mount Maunganui, in Tauranga, was snapped up by a Waikato farming family on Monday, a month after it hit the market.
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The property, which was listed with Bayleys agent Kay Ganley, features a wine cellar, infinity pool, gym and award-winning kitchen, and sold for $4.225m above its 2018 rating valuation.
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Realty Services managing director Simon Anderson, which operates Eves and Bayleys, said the property was a one-of-a-kind and that the price reflected the demand for homes on the Mount.
“It is without question the highest residential price paid in Tauranga or Mount Maunganui ever,” he said, adding that more house price records in the region could well tumble by the summer.
The previous top sale was $9.5m for a residential investment block, known as the Mereden and Mt View apartments, on The Mall in May 2021.
The luxury house took four years to build and included a kitchen that won national awards. Photo / Howling Wolf Media
Anderson said the agency had received three offers on the property. “There is a lot of cash out there. We know there are plenty of people shopping for waterfront homes with budgets of $8m or $9m, and it seems they were all looking at Marine Parade.”
The housing market in Mount Maunganui is one of New Zealand hottest, with buyers paying big sums for prime properties next to the beach. The latest OneRoof figures show annual house price growth of 42% in the suburb - almost double the national rate – with the median property value sitting at $1.154 million, up $344,000 on July last year.
Anderson said that while Aucklanders had driven a lot of the activity in the Mount’s housing market in the last decade or so, the Marine Parade sale showed locals buyers and the region’s wider rural community were still active.
The waterfront home on Marine Parade had epic views of the water. Photo / Howling Wolf Media
“They know the value of property here,” he said, adding that the Tauranga’s beachfront property market had enjoyed a run of strong sales, ranging from $7.5m to well over $8m.
The 540sqm property was five years in the planning, followed by an epic four-year construction phase that ended in late 2019 – a key factor in the sale price’s 79% increase on RV.
Multiple living spaces included a media room, office, library and gallery. Photo / Howling Wolf Media
A home gym and a basement wine room carved out of Hinuera stone were luxury touches. Photo / Howling Wolf Media
The house had a media room, office, home gym, library, gallery and an award-winning kitchen created by New Plymouth master cabinet maker Glen Johns.
Materials used in the house included marble and native timbers.
Ganley told OneRoof it was a magnificent home: “A truly incredible example of sheer determination to capture cutting edge design coupled with superior materials and modern technology. The key was the owners’ great vision.”
The house beats earlier record prices on Mount Maunganui. Photo / Howling Wolf Media
