'Largest ever': Mount home sale eclipses $9.5 million record

A look at New Zealand's affordable housing crisis and the way house prices have changed relative to incomes over time. Video / Paul Slater

A Mount Maunganui home has sold for $9.525 million in what local agents are calling the "largest sale ever".

The waterfront Marine Parade property, featuring a wine cellar, infinity pool, gym and award-winning kitchen sold to a Waikato farming family on Monday.

This Mount home sold for $9.525 million. Photo / Howling Wolf Media

Managing director of the Realty Group, which operates Eves and Bayleys, Simon Anderson said the sale was the largest ever at the Mount.

"The home is one-of-a-kind without question."

Bayleys Mount Maunganui agent Kay Ganley said the property was marketed through a six-week campaign and received three tenders.

The waterfront property set a new benchmark for newly constructed high-end homes, she said.

The 540sq m, three-storey home included materials such as marble, unique timbers and board form concrete, with a hand-carved Hinuera-stone wine cellar that could hold up to 900 bottles of wine.

Ganley said the owners individually selected about 40,000 quarry stones that were laid one at a time by local stonemason Ian Gray to form walls at the front and sides of the home.

"The attention to detail was second-to-none".

Ganley said the home was a labour of love taking five years to design and over three years to build.

"The owners had a great vision, and have used beautiful, timeless materials.

"But it is not just a showpiece it also had a warm, family feel to it too."

The pool. Photo / Howling Wolf Media

REINZ chief executive Jen Baird said $9.525m was a new record price for a residential property in Mount Maunganui.

The previous top sale was $9.5m for a residential investment block, known as the Mereden and Mt View apartments, on The Mall in May 2021.

"Mount Maunganui continues to be a popular location for residential investors and developers looking for opportunities to build apartment blocks, higher density properties and luxury homes.

"This sale would be the fourth sold for more than $8m this year."

The dining area. Photo / Howling Wolf Media

The kitchen. Photo / Howling Wolf Media