Tauranga's property market has had a sizzling start to the summer. Photo / File
Tauranga's property market has had a sizzling start to the summer. Photo / File
The city has recorded a number of big house sales this year. Property reporter Zoe Hunter unlocks OneRoof and Valocity's data showing which homes were crowned the biggest residential sales of the year.
Tauranga's property market has made a sizzling start to summer with an agent reporting two sales over$5 million.
The latest OneRoof/Valocity data has revealed the city's top house sales of 2019 as of the beginning of December.
But local real estate agents have reported more big sales that have toppled the crown of some of the top contenders.
The biggest sale was 71 Marine Parade in Mount Maunganui, which sold for $6 million in May.
However, two sales that were not reflected in that data included the $6.4m sales of 59a and 59b Oceanbeach Rd and 73a Oceanbeach Rd that sold for $5.2m.
Simon Anderson, managing director of Realty Group. Photo / File
Simon Anderson, managing director of Realty Group, which operates Eves and Bayleys, said the properties were sold by mother-and-daughter duo Kay and Janelle Ganley.
Anderson said there had been a number of high-value sales, including some prime real estate, in great locations that were rarely on the market.
He said that was reflected in the way people were thinking about their lifestyle when buying a property and some of those big sales created a lifestyle in desirable areas, specifically in the Mount.
"It also reflects there is a lot of cash in New Zealand still," he said.
OneRoof editor Owen Vaughan said the top end of the market had been challenged especially due to the overseas buyer ban and the uncertainty of the Capital Gains Tax.
He said a lot of people had been putting off making big purchases.
OneRoof editor Owen Vaughan. Photo / File
"The high prices we are seeing in Tauranga, especially Mount Maunganui, for luxury homes don't seem to have been affected as much as other markets," he said.
However, people were still seeing value in beachside locations.
