Kiwi Bach

PHOTO: This two-bedroom, plaster-clad bach on the hill above Hahei had been in the same family since new, but sold on October 12, 2022 for $2.9 million at auction.

According to STUFF the property market slump may well be passing Coromandel by. An original two-bedroom bach on the hill in Hahei on the Coromandel Peninsula, that has been in the same family since new, sold on October 12, 2022 for a massive $2.9 million at auction. It has a CV of $1.5 million.

The plaster-clad bach, built in 1990, is a “do-up”, says listing agent Lea Jurkovich of Bayleys Whitianga. It still has its original kitchen and single bathroom with pink vanity basin – and a second toilet off the laundry.

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The bach is not waterfront, but does have lovely views out to sea. “We didn’t really have anything to go on, price wise, with this one, but the price seems pretty good in this market,” Jurkovich says. “Coromandel does seem to still be tracking really well as one of the few regions holding its own. And we locals are very happy about it.”

The agent says she had not had as much interest in the open homes at the property at 76 Grange Road as she expected. “But the interest that was there was solid, right from the start. And there were three bidders at the auction, and it was very competitive all the way, right through to the end.

It's all about location of course - the views from this small, original bach at Hahei on the east coast of the Coromandel Peninsula are unsurpassed.
BAYLEYS
It’s all about location of course – the views from this small, original bach at Hahei on the east coast of the Coromandel Peninsula are unsurpassed.

“These properties very rarely come to the market. They are very tightly held by family members. And it was very tough for this family to let this one go. Their parents had the bach built all those years ago. But they are at a stage in their lives where it wasn’t being used.”

Jurkovich says the house was architecturally designed with a lot of quirky features but was dated. “It would be a project for someone, for sure.”

The property was originally purchased in 1984 for $35,000 as part of a gorse-laden subdivision, but has been transformed over the years with lush, tropical plantings. There are steps down to a public walkway that leads to the beach. But Jurkovich says many homeowners on the hill use golf buggies to get down to the beach.

Thames-Coromandel District QV property valuations are down 2.5% from six months ago, with the average valuation being $1,267,958.

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