A luxury home in Mount Maunganui has sold under the hammer for $3.01 million – an extra $110,000 more than the owner had already accepted after a three-way bidding war as wealthy buyers continue to seek out high-quality homes and good locations.
The auction for the Campbell Road property in Mount Maunganui, boasting views of the Mauao from its deck, was brought forward after the owner accepted a pre-auction offer of $2.9m.
But two other bidders helped push the price up to $3.01m during a competitive Bayleys auction last Friday, making it among just a handful of houses in Mount Maunganui to sell for over $3m so far this year.
Bayleys Mount Maunganui branch manager Linda Greenslade said they had a mix of out-of-town and local buyers interested in the near-new home and all appeared to want it as a permanent residence.
Start your property search
While the majority of properties selling in Mount Maunganui have been between $1m and $2m so far this year, Greenslade said they have started to see buyers in the higher price range looking again.
“We’ve just noticed in the last two to three weeks enquiry for the upper-end and particularly good quality, well-positioned properties has particularly increased. “
The challenges facing new-builds are pushing people towards newly completed home or homes that had been renovated to a high standard, she said.
Read more:
- The Kiwi agent whose pet alpaca Boris is a hit at open homes (and even photobombs listings)
- Local snaps up Wellington’s most expensive house of 2023
- Ngatea house prices surge as parents fight to get into one of NZ’s best schools
“We’ve got buyers, they’re busy and they’ve got the money but they just don’t want to go through the whole process of building because it’s long, drawn-out and expensive.”
Greenslade believes this is why the Campbell Road property was such a hit. The home, designed by architect Brendon Gordon and built by Gudsell Builders, only had one owner and a builders’ guarantee to 2029.
“It was a really beautiful bespoke-designed home built to a really high standard. Really good quality and in a popular location.”
Buyers want new or near-new homes like this Hamptons-inspired home at 175 Oceanbeach Road. Photo / Supplied
Other properties that fit this criteria include a newly built Hamptons-inspired home at 175 Oceanbeach Road being sold by deadline and a high-end and beachfront home at 23 Karewa Parade in Papamoa that has an asking price of $5.6m.
Oliver Road salesperson Jason Eves said Mount Maunganui continues to be the most active market in the Bay of Plenty due to its highly desirable ocean, beach and harbour-front location.
In particular, the traditional waterfront spots on Oceanbeach Road, Marine Parade and Pilot Bay and the other highly desirable streets between Mauao and Tay Street are still and always likely to be the most sought-after.
A large home on popular Muricata Ave sold earlier this month for mid-$3m. Photo / Supplied
Oliver Road recently sold a large five-bedroom, three-bathroom home on the popular Muricata Avenue post-auction for mid-$3m to a local buyer. A seven-bedroom, four-bathroom property at 48 Tweed Street, which has an asking price of $3.27m, has also drawn strong interest from local and out-of-region buyers.
While a new-build on Ngarata Street which, according to Oliver Road, will be one of the Mount’s best properties is also expected to be sold at auction after it is completed around mid-June. It is already attracting a lot of interest and might even sell before its planned auction date.
However, the fringe streets east of Tay Street in Mount Maunganui and beachfront locations in Papamoa, Waihi Beach and Pukehina Beach are increasing in popularity as some buyers are priced out of the traditional hotspots such as the Mount where a luxury beach pad on Oceanbeach Road broke the record house price for the region when it sold in mid-2022 for $11m.
- Click here to find more properties for sale in Mount Maunganui
