Agents already touting racing

By Amelia Wade

No one knows where a defence would be sailed but houses with a view of the gulf are being promoted

This property at Cliff Rd, Torbay, has views out over the Hauraki Gulf.
This property at Cliff Rd, Torbay, has views out over the Hauraki Gulf.

The Auld Mug isn't even ours yet but real estate agents are using the promise of plum views of an America's Cup defence in the Hauraki Gulf to sell properties.

One agent is planning to record this morning's racing and play it during open homes to help people imagine the potential views from the deck.

The Weekend Herald found four homes on the market that use the regatta as a selling point.

A two-level four-bedroom home in Mairangi Bay with sea views has been listed by Harcourts with the line: "Not much to do here but relax and watch the Kiwis win the America's Cup."

Agent Michael Morel said he thought to include that selling point after the current owners told him watching the defence in 2003 from their deck was one of their favourite memories of the house.

Mr Morel plans to play recordings of this morning's action on the water during a 2pm open home. The house goes to auction next Sunday.

"I think it (the America's Cup) will be a big selling point, absolutely. There's so much hype around it at the moment and we're all very hopeful and confident that it'll come home."

Mairangi Bay Harcourts agent Chris Reade said the regatta had spurred interest in properties in the area - especially because Dean Barker and Ray Davies' old sailing club was around the corner in Murrays Bay.

And a listing for a two-bedroom penthouse apartment in Manly reads: "Call me now to secure a great investment for the future and perhaps have a grandstand view of the America's Cup if they end up racing in the gulf."

Barfoot & Thompson agent Tony Peterken included the sailing in the marketing just before the America's Cup series began.

"I thought I'd better strike while the iron's hot."

He admitted people would probably still need binoculars despite the "great vantage point".

So far there haven't been any inquiries specifically about the harbour views. But Mr Peterken said it was only a matter of time.

He also expected house prices in Whangaparaoa and on the North Shore to climb the closer New Zealand got to a home defence.

Real Estate Institute chief executive Helen O'Sullivan said - without wanting to jinx it - a victory would have some impact on the market.

But a lot would depend on where the racing would take place - the catamarans meant it could be held closer to shore instead of out in the gulf like the last defence.

"Beachfront properties usually attract a premium anyway, but this would just add to it. It's a talking point.

"I can see it being used to a reasonable effect."

In 2002, Auckland's median house prices rose by $14,000 in just two months - from $259,000 in July to $273,000 in September.

Factors that fuelled the boom included the confidence surrounding the America's Cup as well as the thriving economy, high employment, migration and the continuation of stable and relatively low mortgage interest rates.

However, after the Cup was lost in 2003, the housing market cooled slightly and the average Auckland price fell $18,000 in a month.

Cup fever first gripped Auckland in the summer of 1986-87 when New Zealand made its initial foray into the America's Cup. Demand for coastal properties north of Auckland boomed and properties with sea views were eagerly sought. British author and disgraced Tory MP Jeffrey Archer (later Lord Archer) bought 16ha on the southern side of the Whangaparaoa Peninsula.

He paid $775,000 for the land, telling the Daily Mail he expected to make a profit overnight.

He sold the property in 1999 to the Rodney District Council for $2.75 million.


Layline real estate

26 Hythe Terrace, Mairangi Bay
• "Your own slice of San Francisco."
• 4 bedroom, 3 bathrooms.
• To be auctioned - $430,000 QV.

747D Whangaparaoa Rd, Manly
• "A grandstand view of the America's Cup if they end up racing in the Gulf."
• 2 bedrooms, 1 bathroom.
• $315,000 asking price.

633B Beach Rd, Rothesay Bay
• "Not much to do here but relax and watch the Kiwis win the America's Cup."
• 5 bedrooms, 2 bathrooms.
• To be auctioned - $690,000 QV.

48 Cliff Rd, Torbay
• "Imagine seeing the next America's Cup or the All Blacks winning the 2015 World Cup here."
• 5 bedrooms, 4 bathrooms.
• Sold for unknown price. $2.3 million QV

- NZ Herald

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