By Piers Fuller If the property market in the Wairarapa is hot right now, then beachfront is positively on fire. This Castlepoint bach on Jetty Road, built around 80 years ago, sold yesterday for a record $690,000, reflecting the desirability of prime waterfront real estate. The bach was bought by
a Wellington family who wish to remain anonymous, and was formerly owned by the McKenzie family. It was described by Bayleys real estate as "The Jewel in the Crown" of Castlepoint and has a wide beach frontage and unrestricted views of the sea along to the lighthouse. The property sold at public auction and attracted the most attention from three telephone bidders. About 50 to 60 people attended the auction, which lasted only a matter of minutes. The final bid crept up $680,000, with first right of refusal going to the highest bidder. Bayleys sales manager Rod Cranswick said the sale indicates the attractiveness of such seldom available beachfront homes. "This is a seriously top piece of real estate. I think this is just the tip of the iceberg. People who have old family baches will have to sit up and take notice," he said. There were between 150 and 160 enquiries on the property from prospective buyers leading up to the auction. Mr Cranswick says there has been increased interest from Wellington buyers in Wairarapa holiday properties of late. "I think they are starting to wake up to what a beautiful spot this is over here," he said. The bach has been owned by the McKenzie family, who are from Wairarapa, since 1993 and it is understood they originally bought it for $175,000. It has had three owners since being built by the Donald family. Mr Cranswick said the McKenzies were delighted with the sale price. Bayleys sales manager Tim Falloon says they were expecting a price well above the $600,000 mark, and they were pleased with the result. "There is a very strong market, because there are only limited properties that are truly beachfront," Mr Falloon said. The 155m2 bach has three bedrooms, a double garage and a caravan, all set on a 804sq m section.
