Waterfront bach on Banks Peninsula sells for more than $2.1m

109 Beach Rd in Akaroa sold for $2.13 million this month, almost $1 million above its RV. Photo:...
109 Beach Rd in Akaroa sold for $2.13 million this month, almost $1 million above its RV. Photo: Supplied
A vintage 1950s bungalow with stunning harbour views over Akaroa has sold at auction for $2.13 million.

That was nearly $1 million above its 2019 rating valuation of $1.19 million.

Bayleys agent Chris Mangels, who marketed 109 Beach Rd with Robert Berry, said the property was a deceased estate on a 981 sq m freehold section.

Ten bidders competed for the property, with bidding for the three-bedroom home starting at $1.2 million.

It took only a handful of bids to pass the $2.025 million reserve price. The eventual buyer was from Canterbury.

"The house was built in the 1950s but was in modest but liveable conditions with opportunities to enhance it, but the location being the biggest drawcard," Mangels said.

"The location is absolutely supreme on the waterfront with a big site and a big lush lawn which is blending into infinity with the ocean."

The 1950s bungalow sits on a 981 sq m section by the ocean. Photo: Supplied
The 1950s bungalow sits on a 981 sq m section by the ocean. Photo: Supplied
Mangels said expensive properties in Akaroa mainly sold to buyers from around the Canterbury region who were looking for a change of lifestyle.

"Regional buyers are prepared to pay that price well over RV for quality properties.

"Also, people’s working habits have changed, so they have a low maintenance property in Christchurch and their little escape, especially with no ability to travel overseas,” he said.

But this has not beaten the historic town’s highest sale price for the year, set in December at $2.4 million for the house next door at 113 Beach Rd.

"The next door sold for over $1 million above the RV because it’s a special patch with nice properties. At the moment high-end properties are selling really well,” said Mangels, who marketed the 1970s three-bedroom original home too.

According to Valocity’s March figures, the median property value in Akaroa is $605,000. The Canterbury median value has risen 3.8 per cent post-Covid to $510,000.

113 Beach Rd, Akaroa, sold for $2.4 million last year. Photo: Supplied
113 Beach Rd, Akaroa, sold for $2.4 million last year. Photo: Supplied

-oneroof.co.nz

 

 

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