Record Beach Front Price For Harcourts

Record Beach Front Price For Harcourts at Easter Auction

16 April 2004

What is believed to be the highest sale price ever achieved for an ocean-front beach bach in the increasingly popular Pukehina beach has put the small Bay of Plenty settlement into a new league, according to Harcourts Rotorua Business Owner, Lidi Schiefelbusch.

Ms Schiefelbusch said the modest but very tidy bach sold under the hammer for a record breaking $980,000 after spirited bidding. She said around 120 people attended the on-site auction last Sunday with eight bidders from throughout the country starting at the opening bid of $600,000, down to two final bidders from the Waikato after it reached the $900,000 mark.

Ms Schiefelbusch said there were some key factors which led to the outstanding auction success including the fact that it was true beach front, and believed the price would have been similar irrespective of the type of building on the property. She added that what made the property particularly attractive to buyers was its “oblong shaped section with wide beach frontage. Most Pukehina beach front properties are long and narrow, with only the narrowest part on the beach front.”

When the Harcourts listing sales consultant, John Piercy, analysed his extensive marketing campaign he found just on 47% of the first enquiries came from the Internet, with many others responding to the out of town newspaper advertising. Ms Schiefelbusch emphasised that this was a clear message on how important it was to provide properties with high quality marketing campaigns and wide exposure for truly outstanding results.

Ms Schiefelbusch believed that to date the highest previous price paid for comparable property in Pukehina was around $700,000, and her office’s Easter auction had lifted this area of 700 properties, (of which around 75% are holiday homes) to a new level in the minds of coastal property buyers.

The auctioneer for the property was Lindsay Jamieson from Harcourts Rotorua.
ENDS

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