The Waiheke Island real estate market is booming so much that agents have virtually run out of properties to sell.
In fact, Ray White Waiheke agent Matthew Smith says that despite predictions of a property down-turn due to COVID-19, high-end property buyers seem to be moving in the polar opposite direction.
“The Waiheke market has never been stronger,” Smith says. “Our days on market are shorter than ever and we have an all-time low on listings. Demand is so high that a lot of properties that do become available for sale don’t even make it to the market anymore – we’re selling them before they even go online.”
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Buyers are looking for lifestyle estates on the island that take in the bush and sea views. Photo / Supplied
That’s because Smith and other island agents receive regular emails and calls from prospective buyers looking for the elusive Waiheke property.
“They know what they want, they’re just struggling to find it. I’ve just listed a lifestyle property and I’ve already got a couple of people who I’ll contact before it goes to market.”
This comes after the first of 25 sites on the uber-exclusive Wawata Estate sold for $2.7 million. Developed by Chris Jacobs and marketed by Smith and Ray White, Wawata Estate will be the most elite, high-end estate on Waiheke Island. The buyers of the first site are an executive Auckland-based couple who have enlisted architectural firm Herbst to design their new home – the same firm who designed the Lantern House just around the corner, featured in many magazine articles.
“When you look at the Lantern House, its architecture is just beautiful and really sympathetic to the environment, which is a great indication of what properties on Wawata Estate will look like too.”
Top end architects such as Herbsts, Andrew Patterson, Andre Hodgkins and Strachan Group Architects are working on briefs for properties on Wawata Estate. Photo / Supplied
Smith says that Wawata Estate is something that Auckland hasn’t seen before. The 38-hectare estate offers prospective buyers the kind of exclusive lifestyle most people can only dream of. North-facing sections look over the most glorious views in Auckland, possibly New Zealand. High-capacity fibre broadband is delivered to each lot, while smart electronic systems allow for lighting around the estate only when it’s needed. Each site comes with its own rainwater harvesting plus a backup water bore system which instantly drops 1,000 litres of water into their tanks should they ever need it. 300,000 native trees and shrubs have been planted, and millions of dollars have been spent on pest eradication.
Wawata Estate appeals to buyers who want to create a home that is first and foremost a sanctuary, he says.
“We’re finding that these high-end buyers don’t want to buy lifestyle blocks which require ongoing upkeep; they want to enjoy their lifestyle. At Wawata, all you look after is the land around your house, and the rest of the 94-acre park is yours to enjoy while the residents’ society maintains it for you.”
With one of 25 sites having sold so far, Wawata Estate is already attracting a lot of attention within New Zealand architecture circles.
“Architects like Andrew Patterson, Andre Hodgkins and Strachan Group Architects have expressed a desire to be a part of the growth of the estate. We’re currently meeting with them and working on renders and designs so prospective buyers can get an idea of what they could do on the land and the kinds of designs that would be sympathetic to the environment and the estate as a whole.”
The sites at Wawata Estate range in size from one to six acres and are priced from $2.1 to $4.5 million.
