This stunning waterfront property at Paine Brown Way, in Russell, is on the market and expected to sell for several million dollars
Northland is quickly becoming a playground for the super-wealthy with a swag of luxury multi-million dollar properties on the market or sold in the region.
The Far North in particular is a playground for the country's rich, with the super-wealthy flocking here for its beauty, privacy and world-famous golf course.
The top end of the residential real estate market in New Zealand is going strong, largely untroubled by factors like higher interest rates and inflation which are besetting those lower down the property rung.
Analysis from OneRoof's data partner Valocity, and published today in the OneRoof Property Rich List, shows sales in the $10m+ bracket tripled in the last year and the number of $5m sales have also jumped, with most high-end sales being seen in Auckland and Queenstown along with New Zealand's sought-after coastal areas.
In the Bay of Islands, the super-wealthy like to fly under the radar.
The Far North is dotted with an array of stunning white sandy beaches and plentiful cliff tops with water views.
While you might find the wealthy dotted around the place, too, there are certain areas they tend to buy in such as the exclusive gated communities of Pureora Bay to the east of Kerikeri, and Rawhiti up the coast from Russell.
The wealthy who buy in the Bay of Islands are discreet, and so are the agents that sell to them with some preferring not to comment.
Prices for substantial properties in this part of the north can start in the several million and go up from there.
One agent said anyone who is anyone in New Zealand is likely to have a property in the Bay of Islands and while the buyers enjoy the steady, warm climate and the access to sandy beaches, they also enjoy the privacy and anonymity they get.
"You could be at the Duke of Marlborough having a beer and somebody could be beside you worth hundreds of millions of dollars in their shorts, jandals, and T-shirts and you'd have absolutely no idea."
Some properties don't go to market and are transacted lawyer to lawyer, the agent said, but there are fewer luxury properties on the market because of the Government's foreign buyer ban.
"A lot of people haven't sold because they know they will never be able to buy again in New Zealand under the current legislation."
Some of the wealthy live in locations they can access by helicopter and agents report there are some pretty big boats around. A property currently for sale at 92 Pukematu Lane is five bedrooms on 5322 hectares listed for $4.5 million.
The property is described as "truly magical" with a design that will leave potential buyers "speechless".
There's also access to the beach below via a private path.
Bayleys has a property for sale at 6 Paine Brown Way in Russell which is being marketed as "one of our finest waterfront estates".
The five-bedroom, four-bathroom 1880s settler's home is for sale by negotiation, with a 2019 rateable value of $1.774m.
Dickie Burman, sales leader for Bayleys Bay of Islands, says there is strong demand for quality coastal property, much of it coming out of Auckland.
"You've got a lot of coastline and it's the coastal properties that command the high values – or those with the big, magnificent views.
"We saw a marked increase in top-end sales over the last 12 months. Mainly coastal, big views, nice properties, tucked away, private, and they've ranged from $1m to $7m depending on where they are and what they are."
Privacy is a driving factor, as are locations like Russell, Paihia, Ōpua and also out towards the coast on the Kerikeri side, he said.
There has also been an increase in interest in the $1.5m to $2.5m bracket, which Burman thinks is due to people not travelling because of Covid so they're spending their money elsewhere which can buy a nice, modern home with a view.
Tom Rutherford, the managing director/owner of Harcourts Bay of Islands, says buyers in the $1m to $2m group are often cashed-up Aucklanders looking for an escape pad with an "almost the Barry Crump" off-the-grid lifestyle, but he points out people need to understand the realities of the lifestyle.
"Northland is a stunning place but you have got to respect the heritage and cultural values that it stands for."
Another Northland hotspot the wealthy are drawn to is around Mangawhai and exclusive Langs Beach, which is just north of Mangawhai and south of Waipū.
Stephen Owles, sales leader for Bayleys Mangawhai, says Langs Beach is a stunning spot with no retail.
"It's always been relatively exclusive and a little bit off the radar if you like."
Properties at Langs Beach can be very pricey with around $4m or $5m needed for the top-of-the-range beachside, he says, and hardly anything for under $2m.
For $5m-plus you would get " a very nice beachside resort type property". Bayleys is marketing 1178D Cove Rd in Langs Beach as a retreat with peace, privacy and panoramic sea views.
The four-bedroom Tuscan-style home is for sale by negotiation and has a 2018 rateable value of $3.1m.
Owles says another reason some of the country's wealthier people are being drawn to
Mangawhai is because of the exclusive Tara Iti private golf course just to the south.
While Bayleys does not sell in Tara Iti itself, some people get a membership and then look to Mangawhai to buy.
"We're seeing that Mangawhai is becoming a bit of a golfing destination, and there are two more courses being built in the surrounding areas of Tara Iti as well.
"That's one of the interests we're seeing from some of those high net wealth people that are looking to come into the area."
Aside from the golf, Mangawhai is a beach location that is developing fast with the Mangawhai Central development under way which will bring more retail, a new supermarket and a hardware store to the area.
Another area the wealthy are drawn to is Tern Point, near Tara Iti, which Owles describes as the area's equivalent of Omaha, saying it's a gated community with a mix of $2m-plus properties.
The Sanctuary, on the northern end of Mangawhai, is another gated community with a mixture of semi-permanent and holiday homes.
A small section with a decent house at The Sanctuary would start just under $2m, with prices going upwards from there, and there are sections available, too, with one listed for $639,000. The site is just under half a hectare with views over The Sanctuary and a bush backdrop full of birdlife, including kiwi.
Owles says Mangawhai Heads is always popular, too, with its mix of old and new baches which tend to command strong prices because of its proximity to the beach and surf club.
Areas surrounding Mangawhai are also becoming popular, with lifestyle blocks opening up in Kaiwaka, and the top of the Kaipara is garnering a lot of interest with gated communities popping up. 48b Garbolino Rd is between Mangawhai and Kaiwaka and is on the market for $3.595m.
The four-bedroom, three-bathroom smart home has views across the bush, valleys, the sand dune and out to the ocean.
Northlander Brad Olsen, the principal economist with Infometrics, said the OneRoof/Valocity data highlights the wealth gap in this country.
"I guess it just reinforces the divide, certainly at a time when we see inflation at a generational high and we see the housing market is turning around," Olsen said.
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