Hawkes Bay Today
  • Hawke's Bay Today home
  • Latest news
  • Sport
  • Business
  • Opinion
  • Lifestyle
  • Property
  • Video
  • Death notices
  • Classifieds

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • On The Up
  • Sport
  • Business
  • Opinion
  • Lifestyle
  • Property
    • All Property
    • Residential property listings
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology

Locations

  • Napier
  • Hastings
  • Havelock North
  • Central Hawke's Bay
  • Tararua

Media

  • Video
  • Photo galleries
  • Today's Paper - E-Editions
  • Photo sales
  • Classifieds

Weather

  • Napier
  • Hastings
  • Dannevirke
  • Gisborne

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In

Advertisement
Advertise with NZME.
Home / Hawkes Bay Today

Havelock North, Hawke's Bay house sells for more than $1m, double its valuation, after 24 offers

Patrick O'Sullivan
Patrick O'Sullivan
NZ Herald·
23 Mar, 2021 05:00 PM2 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save
    Share this article
This original condition house in Havelock North sold for twice its ratings valuation for more than $1million, receiving 24 offers.

This original condition house in Havelock North sold for twice its ratings valuation for more than $1million, receiving 24 offers.

A Havelock North house has sold for more than double its ratings valuation.

The 1950s weatherboard three-bedroom house, in original condition, sold for $1,050,000 on Monday according to OneRoof.

With its August 2019 ratings valuation of $500,000, Tremains Real Estate agent Bronwyn Grant said many buyers thought they were in with a chance to buy the original condition house on Arataki Rd.

She said buyers were given two weeks to submit offers.

"I had 166 enquiries on this property - that's phone calls, texts, emails – all of which get replied to," she said.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

"That resulted in 122 groups coming through four open homes.

"I got this enormous stack – 24 offers."

But her jubilation at the sale was short-lived.

Advertisement
Advertise with NZME.

"It took me an hour-and-a-half to call all the disappointed buyers and just to listen to them - what they were hoping to purchase.

"They felt they had really put their best foot forward to secure this property.

"Most of the offers were cash, unconditional."

While the section was potentially sub-dividable with resource consent, many of the would-be buyers were simply after their own slice of "quarter acre paradise".

"The vast majority of the offers were from families who just wanted the classic Kiwi house with a lovely big backyard."

Discover more

New Zealand

Local Focus: The Kindness Cup is the biggest prize

28 Mar 09:56 PM
New Zealand

Local Focus: Anti-litter 'pester power' for sustainable beauty

30 Mar 08:28 PM
New Zealand

Local Focus: The Eskdale Park mountain bike battle

01 Apr 07:47 PM

The elderly vendor was downsizing and the new owners are a family with school-aged children, one of many scrambling to secure a purchase in the buoyant market.

REINZ figures show Hawke's Bay recording some of the biggest increases in house prices nationally.

The February Hawke's Bay median Price of $704,000 is up 36 per cent compared with February 2020's median price of $516,000.

The sales count was down 22 per cent.

Grant said, despite headwinds, first-home buyers were still in the hunt.

"A lot of them are reliant on their parents helping them, just finding it very difficult to get into the market."

Advertisement
Advertise with NZME.

Cole Murray mortgage adviser Steve Davies said low interest rates made homes more affordable for people trading up.

He said while many first-home buyers were struggling with high prices, Hawke's Bay was "still a great place for first-home buyers".

"We've got the Central Hawke's Bay - there's a lot of activity down there."

He said investors were active in the market but new government-imposed LVR restrictions, which limit how much investors could borrow, would "hopefully open up the market for first-home buyers".

Made with funding from

Save
    Share this article

Latest from Hawkes Bay Today

Hawkes Bay Today

Billion-dollar spend on highway projects a 'shot in the arm' for Hawke's Bay – AA

01 Nov 05:00 PM
Hawkes Bay Today

You are not to blame - The women speaking out about region's daunting sexual abuse rates

31 Oct 05:00 PM
Premium
Hawkes Bay Today

Kāinga Ora housing village on affluent seafront street set to be sold

31 Oct 05:00 PM

Sponsored

Poor sight leaving kids vulnerable

22 Sep 01:23 AM
Advertisement
Advertise with NZME.

Latest from Hawkes Bay Today

Billion-dollar spend on highway projects a 'shot in the arm' for Hawke's Bay – AA
Hawkes Bay Today

Billion-dollar spend on highway projects a 'shot in the arm' for Hawke's Bay – AA

Expressway work could start this year, and Waikare Gorge realignment within 12 months.

01 Nov 05:00 PM
You are not to blame - The women speaking out about region's daunting sexual abuse rates
Hawkes Bay Today

You are not to blame - The women speaking out about region's daunting sexual abuse rates

31 Oct 05:00 PM
Premium
Premium
Kāinga Ora housing village on affluent seafront street set to be sold
Hawkes Bay Today

Kāinga Ora housing village on affluent seafront street set to be sold

31 Oct 05:00 PM


Poor sight leaving kids vulnerable
Sponsored

Poor sight leaving kids vulnerable

22 Sep 01:23 AM
NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • Hawke's Bay Today e-edition
  • Manage your print subscription
  • Manage your digital subscription
  • Subscribe to Herald Premium
  • Subscribe to the Hawke's Bay Today
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • Hawke's Bay Today
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • NZME Events
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • © Copyright 2025 NZME Publishing Limited
TOP