- A reclad cedar home in Matarangi sold for $4.045m, breaking the town’s house price record.
- The five-bedroom beachfront house went under contract quickly, attracting interest due to its location and features.
- Matarangi is seen as more affordable, with most properties being holiday homes bought by those with local ties.
A reclad cedar home by the beach has smashed Matarangi’s house price record, selling for $4.045 million in a matter of weeks.
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Richardsons Real Estate branch manager Simone Parr told OneRoof that the buyers, a family with ties to the Coromandel town, had made an offer on the Kenwood Drive bach within 48 hours of the listing going live.
“It went under contract very quickly, so the other interested parties decided to wait and see what happened, and, of course, it sold.”
The five-bedroom house is the first to break through the $4m ceiling in Matarangi, and the record comes amid a run of big sales in the town, including a $3.7m deal for a large three-bedroom bach on Corokia Place last month.
The five-bedroom home on Kenwood Drive last changed hands in 2007. Photo / Supplied
Matarangi is an hour north of Whangamatā, and, said Parr, was viewed as more affordable, with beachfront homes in the latter able to command $8m-plus.
“It feels like it’s good buying, but we’ve always had a discount for being a bit further away.”
Parr said there hadn’t been any absolute beachfront properties come on the market for some time, so when the Kenwood Drive home hit the market, buyers leapt at the chance.
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“It’s absolute beachfront. It doesn’t happen that often, so people have to grab them.”
Parr noted that the bach’s modern look, great views and five bedrooms, including three with ensuites, made it a standout in the market.
“I really think people are looking for a finished product. This is an older home, but it’s got really good spaces, and what they used to start with is a bit timeless. People don’t want to have to do a whole lot of work; they want to be able to move in and just enjoy really.”
A beachfront property on Corokia Place, in Matarangi, sold last month for $3.7m - making it the third biggest sale in the town. Photo / Supplied
Parr said most of the properties in Matarangi were holiday homes and were usually bought by people who had friends or family in the area. Some bought them as holiday homes initially and then later moved there permanently.
Ray White agent Louise Bradley, who brokered the $3.7m Corokia Place deal, said the buyers had been looking further north, in Whangapoua, before settling on Matarangi.
“Why wouldn’t you come here? I really do feel like we’ve got it all. We’ve got the beautiful beach, we’ve got the golf course, we’ve got the harbour, we’ve got the tennis courts – we’ve just got everything you need for a wonderful holiday in all honesty. It’s paradise – we are lucky.”
She said most of her buyers came from Auckland, and they were watching and waiting for properties to come up for sale online. “When the one comes up in the area they want or the property they want, they pounce on it.”
- Click here to find more properties for sale in Matarangi
