Record $4m for Mt Maunganui house

Monday 7 June 2004

A Mt Maunganui beachfront home has sold for a record $4 million in the western Bay of Plenty - pushing the local housing market to staggering new heights.

By The Landlord

A developer paid nearly double the valuation of $2.2 million for the house and 675 sq m section on the corner of Banks Ave and Marine Parade.

The house, which was bought by Pat and Patricia Stott in 1960 for £18,000, will be demolished to make way for an apartment complex.

Read More - Opens in a new window
Commenting is closed

House Prices

No stopping Capital price rises

There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.


NZ proptech start-up scores major investor

Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.


LVR limits slow down investors

LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.

Site by PHP Developer