A tired beach property in Mt Maunganui that had been owned by the same family for more than 30 years has sold at auction for $1,865,000.
The property at 23A Oceanbeach Road, which had a rating valuation of $1.2 million, was snapped up by an Auckland buyer, who beat three other active bidders in the room.
Kay Ganley, the Bayleys agent who marketed the 607sqm property, said it fetched the price it did due to its proximity to the beach.
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“It’s quite unique as it’s so close to the beach and has shared beach access on the title," she said.
Ganley said Mt Maunganui beach properties were always popular amongst Aucklanders, particularly young families.
“It’s quite common to have an Auckland buyer as they are coming down here to live the life,” she said.
The property was well cared for but is likely to be developed. Photo / Supplied
The property has two dwellings with two bedrooms and a bathroom in each. The two-storey dwelling has storage and a double garage with beautiful views from the balcony.
There is huge demand for beachfront properties in Mt Maunganui and buyers tend to pay a premium for them - largely because they are tightly held. Last year a rare piece of undeveloped beachfront land on Oceanbeach Road that had not been on the market in 50 years and had a rating valuation of $4.1 million sold to a developer.
The median value of homes in the suburb is $810,000, according to the latest OneRoof-Valocity house price figures. The suburb's highest sale price so far this year is $2.325 million, short of the $6 million recorded in 2019.
