A Mt Maunganui waterfront home has set a new record for the beachside suburb with a $6.2 million sale.

The stunning home on one of the most coveted and elevated locations along Oceanbeach Road has an infinity pool which flows to breathtaking 180degree views over the water.

The 888sq m three-level home on 1027sq m of land sold in November last year.

Jeremy O'Hanlon from home data website Homes.co.nz said the sale had broken the previous record of $5.7m on the same street.

Advertisement

"While this sort of price doesn't stand out significantly in Auckland hot spots like Takapuna or Herne Bay, there are very few valued near this in Tauranga."

View from the beach of 77a Oceanbeach Road, Mt Maunganui. Photo / Alan Gibson
View from the beach of 77a Oceanbeach Road, Mt Maunganui. Photo / Alan Gibson

O'Hanlon said properties in similar land size in Takapuna sold for upwards of $11m.

He said despite reports of priced-out Aucklanders moving to the Mount and Tauranga and pushing values up, there were still beachfront bargains to be had.

"The Mount offers great value waterfront when compared to Auckland Central's $4m+ average," O'Hanlon said.

"There are still homes on Homes.co.nz with an estimated value in the low $2m along the waterfront strip."

Data from valuation company QV shows the median home value in Mount Maunganui is $782,550, up 16 per cent year on year.

The median value in Auckland is $1,043,680 with an annual increase of 12.8 per cent.

According to data from QV, Auckland has four suburbs with an average value of more than $2m: Herne Bay, St Mary's Bay, Remuera and Stanley Bay on Auckland's North Shore.

The Mt Maunganui home has three contemporary kitchens, one for each level and garaging for seven cars.

The Bayleys agent who sold the property described it as having "breathtaking views from every living space."

In her marketing of the property, agent Sharon Hall said it had a top floor dedicated to entertainment with a media room and indoor pool and spa.

"Catering for guests and family is a breeze; once they arrive, it's quite possible they won't want to leave," she said.