A classic Kiwi beach house at Mangakuri Beach in Central Hawke's Bay has sold for $1.31 million.
The four-bedroom beach house was sold by a Wellington man to a Havelock North farming couple.
In February a smaller bach at the beach sold by tender for $850,000 to another Hawke's Bay family.
The people
who bought the latest property were unsuccessful tenderers for the first one. Michael Harding, of Harcourts Regent Realty, Waipukurau, who sold the house, said the price reflected the scarcity value of baches at Mangakuri Beach.
Most of the 25 houses at the beach had been in the same families for generations and rarely came on the market. This $1.3 milion home is a classic 1950s bach that has had two bedrooms added.
Mr Harding said it was in good condition on a 3901 sq m section which could be subdivided.
The house has good sea views, extensive decking and plenty of room for outdoor living.
He said some people who bid for the property had tendered for the one which sold in February.
One of them was bidding by telephone from Britain. He expected that property would top February's price and some other bach owners were expecting it to make $1.5 million.
"The final price showed the first sale was not a one-off," Mr Harding said.
Mangakuri Beach was a special place and people who went there knew that, he said.
There is no public camping and it is at the end of a private road.
"It's an old-fashioned, undeveloped Kiwi beach with a close-knit community."
