The harbour bridge is no longer seen as an obstacle by buyers looking for coastal properties in excellent school zones, writes Graham Hepburn.
Sandwiched between Takapuna and Devonport, the supposedly less-glamorous North Shore suburbs of Belmont and Bayswater are much more affordable but still offer coastal living.
Lake Rd, which connects Devonport with Takapuna, runs between the two suburbs. Belmont faces the sea and Bayswater is on a peninsula jutting into the harbour and looking back to Auckland City.
The homes along busy Lake Rd are generally the cheapest, with values going up and up either side of the main thoroughfare the closer you get to the water.
Originally named O'Neill's Point after the first European settlers in the area who arrived in the 1840s, Bayswater was later renamed after a London suburb to reflect its coastal setting.
Belmont takes its name from the farm that was subdivided in 1885 to create residential sections.
Belmont/Bayswater began to be intensively developed from about the 1920s so the housing stock ranges from bungalows through 1930s Art Deco homes, 1950s state houses, 1960s brick-and-tile units and 1970s weatherboard houses, with more modern infill housing interspersed due to the original generous section sizes.
Up until the last couple of decades, these suburbs were home to mostly blue-collar workers but young professionals have joined the mix as they seek more affordable homes.
Belmont has the open ocean and a white sand beach on its doorstep, and Bayswater has a marina with a ferry to downtown Auckland.
Built using land reclaimed in the 1990s, the marina and its surrounding land is a quiet and picturesque part of the suburb but is now subject to a proposal for residential development after the Government sold what was previously leasehold land to the marina owners.
Hayden Stanaway, of Bayleys, says: "Belmont has many features that make it attractive to families, investors and young professionals alike. With some of the most highly regarded primary, intermediate and secondary schools on the North Shore, parents are comfortable buying a property that will see them inside the zones of high-decile schools for the entire length of their children's schooling years.
"Furthermore, when we take a look at the difference in sale price in comparison with CV (July 2014) over the past three months we see a growth of 13 per cent, according to qv.co.nz. Investors are clearly seeing the value in properties in this area, with capital growth at this level.
Belmont. Photos / Michelle Hyslop
"The area offers an idyllic lifestyle with cafes, restaurants, beaches and an array of social clubs including golf, sailing, fitness boot camps, cycling and dancing."
Kurt Piper, of Premium, says the shopping and dining scene in both suburbs is improving all the time.
"Both areas are having a dramatic increase in value, Belmont a tad more so than Bayswater," he says.
His colleague, Peter Vollebregt, says the area "attracts a lot of young- to middle-aged families who are looking for excellent schools, a safe and relaxed environment for their kids to grow up in, a reliable ferry service and water sports".
He adds: "One of the most curious things that is happening is that people from affluent areas across the bridge are attracted by properties in Bayswater that are at least $200,000 to $300,000 cheaper than on the other side. In the past they saw the bridge as an obstacle."
