A classic Kiwi bach near Coromandel town that was listed for sale for the first time in half a century was under offer within a week.
The largely original property, just across from Wyuna Bay, sold for $1.815 million in September, property records show. It has a rateable value of $1m.
It’s the first beachfront property to sell in the tightly-held bay, which is just a short drive from Coromandel town, in more than four years.
The two-bedroom property had been in the same family since it was built on the flat 835sqm section in the early 1970s and was described by its listing agent as having the “wow factor”.
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Richardsons listing agent Kim Raddick said it was a “brilliant sale” for a Wyuna Bay beachfront property and received a lot of interest. The property was under offer within about a week of being listed after multiple offers were tabled.
Raddick earlier told OneRoof that in the last year a third of their buyers have come from other parts of the Coromandel Peninsula including Cooks Beach as people are drawn to the good fishing and family-oriented vibe including safe swimming areas.
“I’ve had a lot of people coming over for the artisan side of town – the arts, the pottery and the heritage nature of our township, but definitely the fishing and sailing is a big part of it.”
The beachfront Wyuna Bay bach was a hop, skip and jump away from the beach and sold for $1.815m in September, well above its ratings valuation of $1m. Photo / Supplied
Beachfront homes on the northern side of the Coromandel are still seen as being more “affordable” than the recent waterfront sales at either Whangamata or Pauanui, he said.
And $1.815m might still appear to be a bargain for people looking for beachfront properties, one at the other end of the peninsula sold for $6.52m.
The three-bedroom beach house on Tangaroa Road sold for more than $2m above its 2020 RV after a four-way bidding war, making it the most expensive property to sell under the hammer and the second most expensive sale price.
The highest sale price for a house in Whangamata is held by a four-bedroom beachfront bach on Seaview Road which sold off market for $7.41m in June last year.
Properties in Hahei and Cooks Beach also made headlines earlier this year for their impressive sales prices. Last month a lifestyle six-bedroom property on an elevated section in Cooks Beach with impressive sea views was snapped up at auction for $4.5m - $1.9m more than what the owner had deemed to be an acceptable offer.
In May an “entry level” property on Margot Place in Hahei sold for $1.24m, which was about $500,000 over its RV, while a “classic” bach on Riverview Road, in the neighbouring Cooks Beach, fetched $1.51m.
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