Ocean­beach Rd home high­est sale at $6.3 mil­lion

Bay of Plenty Times - - Front Page - Zoe Hunter

Athree-bed­room beach­front home in Mount Maun­ganui with a $6.3 mil­lion price tag was the most ex­pen­sive house sold in Tau­ranga dur­ing the year to Au­gust.

The lat­est Valoc­ity data showed a home on Ocean­beach Rd topped the list of Tau­ranga’s five big­gest res­i­den­tial sales in the 12 months to Au­gust 2018.

The city’s top five sales were all houses in Mount Maun­ganui, rang­ing from $3m to $6.3m. The Ocean­beach Rd home was sold at a pub­lic auc­tion in May this year. The data showed 2130 res­i­den­tial prop­er­ties were sold in Tau­ranga dur­ing the year to Au­gust. The to­tal value of those sales was $1.8 bil­lion.

Si­mon An­der­son, chief ex­ec­u­tive of Realty Group, which op­er­ates Eves and Bay­leys, said the de­mand con­tin­ued for houses in Mount Maun­ganui.

“It is land­locked, so when a good one comes up it is strongly chased. The Mount is such sought-af­ter place.”

An­der­son said Ocean­beach Rd was pop­u­lar among buy­ers in the Mount due to its beach­front lo­ca­tion.

Ray White Realty Fo­cus Mount Maun­ganui and Pa­pamoa fran­chise owner Greg Pur­cell said the Mount was be­com­ing more and more ex­clu­sive.

“The big­ger Tau­ranga gets, by ra­tio, the rarer those places be­come,” he said. “They have al­ways been good spots, but as it ex­pands you can’t re­place that.”

aPur­cell said the Mount was one of a few places in New Zealand that were seen as a “des­ti­na­tion” and peo­ple took a lot of pride in liv­ing there.

How­ever, he said the value of homes var­ied along Ocean­beach Rd due to their prox­im­ity to beach ac­cesses. “The value is di­rectly as­so­ci­ated with that view.”

OneRoof.co.nz ed­i­tor Owen Vaughan said it was hard to gen­er­alise why one home would sell for $1.5m and an­other just down the road would go for $5m, but wa­ter views were usu­ally key in New Zealand.

“Homes with wa­ter di­rectly in front of them, a road be­hind them and a long clear line of sight tend to be valu­able ev­ery­where.”

How­ever, Vaughan said there was limited stock that fit that cri­te­ria, which lead to higher prices.

“Ar­chi­tec­ture and de­sign is al­most se­condary to that, with po­si­tion more im­por­tant to the up­per end of the mar­ket than the ac­tual house.”

Vaughan said devel­op­ment po­ten­tial was the other fac­tor driv­ing higher prices in New Zealand.

“The abil­ity to put up sev­eral town­houses or an apart­ment block on a site that cur­rently houses just one home would in­crease that prop­erty’s value.”

Mount Maun­ganui Col­lege prin­ci­pal Alas­tair Sin­ton said a large num­ber of their stu­dents were sec­ond or third-gen­er­a­tion.

There were also plenty of lo­cal stu­dents whose fam­i­lies had joined the school from through­out New Zealand or from over­seas and had cho­sen Mount Maun­ganui as their home.

“A lot of New Zealan­ders are drawn to the wa­ter and feel a con­nec­tion with the ocean and Mount Maun­ganui is sur­rounded PHOTO / SUP­PLIED

by it. It re­ally is a spe­cial place.”

Deputy prin­ci­pal Ady van der Beek used to hol­i­day at the Mount as a child be­fore mov­ing to the area from Pu­taruru more than 30 years ago. He said the Mount was eas­ily iden­ti­fi­able for both lo­cals and visi­tors.

“When peo­ple come here they see the Mount as a good place, it brings back me­mories,” he said.

Mount Maun­ganui ward coun­cil­lor Leanne Brown said Mount Maun­ganui had al­ways been a pop­u­lar place.

“It has nat­u­rally be­come a des­ti­na­tion of choice by rep­u­ta­tion. It is just like be­ing on hol­i­day.”

A home on Ocean­beach Rd sold for $6.3m in May.

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