Mount Maunganui beachfront home on Oceanbeach Rd sells for $5.6m

Demand for this home in Oceanbeach Road, in Mount Maunganui, Tauranga, was strong at Bayleys auction on Wednesday. Photo/ Supplied

A stunning near-new house on the beach in Tauranga has sold under the hammer for $5.6 million – almost $2 million above its 2018 rating valuation.

It was one of six Tauranga properties to sell at Bayleys' auction on Wednesday, and the second home on the city's prime beachfront strip to fetch $5 million in a fortnight.

The property on Oceanbeach Road, in Mount Maunganui, was snapped up by expat buyers.

The opening offer for the luxury four-bedroom home was a high $4.8 million, with the listing agent, Kay Ganley, telling OneRoof that bidding was "fast and furious".

The new house was ocean front. Photo / Supplied

The architecturally designed home, which includes three generous connected levels each with independent self-catering and ground floor guest accommodation, was only completed in 2020, but the owners decided to sell up in order to make a move to the country.

Ganley said the buyers had been searching for a place to call home for about two months.

"It's unusual because it's really rare to get a brand-new house on Oceanbeach Road.

"People liked the 180-degree view and you can see the Mount and the beach. The views are just phenomenal, plus it's a high-spec home."

Fellow Bayleys agent Peter Clarke had a 340 sqm penthouse apartment at 6/11 The Mall, Mount Maunganui, for sale at the auction. It had multiple bidders and was passed in at $4.1 million. He is now presenting offers post auction.

"We had more than 70 people through the property, the interest is even higher than we'd expected. There's a lot of appetite for property like that, and plenty of buyers with budgets of $4 million-plus."

Clarke says that most of the buyers for the top end apartments are not Auckland holiday home shoppers, but locals "moving sideways" from Marine Parade or Oceanbeach Road for a change of scenery. The luxury apartment above Pilot Bay boasted 360-degree views, three bedrooms and two carparks.

"We need more stock. Buyers are flexible. They're having to work with what we have got."

Bayleys auctioneer Stephen Shale, says that 18 bidders competed for the eight properties at Wednesday's auction. He wasn't surprised that the top property went for over $5 million.

"The high end is very strong. We've had clearance rates this year of over 90%. Three weeks ago there were fewer buyers but that's come back, there's still plenty of opportunity."