Pukehina is Bay of Plenty's new hot property spot

Taupo man Richard Yeoman says Pukehina is awesome. Photo/George Novak

Pukehina has cemented its position as one of the Bay's rising property hot spots.

Just ask Richard Yeoman, who has seen the value of his beachfront bach soar.

He bought the 840sq m piece of land for $139,000 and built a house about 17 years ago. This year it was listed for more than $800,000.

In the last few months they put an offer on a house down the road - something a bit bigger that would better fit the extended family.

Their offer was accepted, pending the sale of their current place. Before they could sell, the house they wanted was snapped up by a buyer with a bigger offer.

It was a shame but did not put the Taupo family off holidaying in Pukehina.

"It's awesome here," Mr Yeoman said.

He felt Pukehina's prices had been generally high for the last 10 years but had noticed more interest in the area this summer.

"It's because everyone is selling up in Tauranga and Auckland. They've realised you can get beachfront here for less than a million."

Houses in Pukehina had the region's biggest annual increase in values, rising 30.4 per cent to an estimated median value of $648,250 in March this year. The median house value in Pukehina in March 2016 was $497,050.

The new data comes from the latest QV quarterly property report, which showed strong value increases in Pukehina compared to other Western Bay of Plenty suburbs.

Omokoroa showed a 22.4 per cent price increase for the year, while Te Puke increased 22.6 per cent. Katikati showed an 18.2 per cent increase, while Waihi Beach increased 17.6 per cent.

The biggest increase in the Tauranga region was in Bellevue at 17.5 per cent.

Figures from three years ago showed Pukehina was the lowest performing region with a change of -14.6 per cent.

Ray White Te Puke owner Rochelle Carter said Pukehina was attracting more people from outside the Bay of Plenty, especially Auckland and overseas.

"We have a very interesting group of people. It is no longer just a holiday place, we have a lot of permanent residents coming here," said Ms Carter.

"Pukehina was announced No 3 on the list of top five places to retire on the Mike Hosking Breakfast show about six months ago. People are recognising Pukehina as a little piece of paradise. It is the Bay's best-kept secret."

Ms Carter said the 20-minute drive to Te Puke, and a 33-minute drive to Tauranga CBD on the Tauranga Eastern Link was part of the attraction.

"People enjoy getting away from the hustle and bustle of the CBD," said Ms Carter. "We have our own fire station, the popular pub Hippy Pipi.

Pukehina also had an "incredible" community," said Ms Carter.

"It is like back in the 1960s where people care about each other. There's a very good community spirit."

Ms Carter lives in Papamoa and was also thinking of retiring in Pukehina for the beach environment. "Pukehina has the most fabulous beach."

Maketu was another hot spot of the Western Bay of Plenty, said Ms Carter.

"We are seeing a good interest in Maketu properties. They haven't had the rush Pukehina has in prices but I believe Maketu is getting more attraction."

She said a beachfront section in 2015 cost about $450,000, with today's prices reaching between $650,000 and $700,000.

Simon Anderson, chief executive of Realty Services which operates Bayleys and Eve's Realty, said looking at growth in Mount Maunganui and Papamoa, it was not surprising Pukehina was catching up with the trend.

"With the new expressway, it is a lot quicker to Tauranga than it was before. There has been some good interest in Pukehina properties," he said. "If you look back to 2007, that's when houses in Te Puke were selling for $800,000.

"Then we had the Global Financial Crisis and a lot of places have never recovered, whereas Pukehina is gathering momentum."