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A Raglan property that once sold for about half the price of a telescope tips to fetch more than a million dollars when it passes under the hammer.
The fibrolite-lined bach, with sweeping views of Lorenzen Bay, was purchased by respected astronomer Allan Bryce in 1943, and the land cost £ 45 (NZ $ 85).
A year earlier, Bryce had paid £ 75 for a telescope.
“Even though the property cost half the price of the telescope, no one really thought they got a bargain,” said Lindsay Amner, Bryce’s grandson. “Back then, Raglan was not seen as a desirable place to live.”
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Fast-forward nearly eight decades and the 2,226-square-meter site, with its two-bedroom bach and assorted living quarters, is expected to fetch the best price at auction Wednesday, one more sign of Waikato’s hot housing market.
“The question is how much more than a million dollars will it sell for?” Said Sue Hall, real estate agent for Lodge.
Dominico Zapata / Things
Lodge realtor Sue Hall and Raglan bach saleswoman Lindsay Amner.
Eight open homes have drawn 45 groups through Greenslade Road bach. Neighbors say potential buyers have visited the beachfront property every day since it went on the market.
“I’ve been a real estate agent for 24 years and I’ve never seen Raglan look so attractive,” Hall said.
“The great attraction of this bach is the fact that it is a beachfront property. There are people who have been waiting a long time for a beachfront property and will want to build a new one. “
The median sale price in Raglan is now $ 735,000.
Amner will be sad to see that the bach leaves the family, but says that it is not used as much as in the past. Expect the new owners to remove the buildings.
“My dad Brian put the fibrolite siding in in the late 70’s, early 80’s, so it probably has asbestos. The reason he put it on was because the house was full of borers, so I don’t think it’s redeemable. “
Harcourts Hamilton CEO Brian King said the burgeoning real estate market is not limited to major centers as buyers purchase homes in smaller Waikato communities.
Coastal cities are proving especially popular.
“Speaking to other franchises, they are just as busy as we are. In Whitianga, things are going completely crazy and Whangamatā is the same, ”King said.
“Beach type places are going crazy and that includes Waihī and Waihī Beach. It is of interest to the locals of Auckland, but also to expats who have moved home. “
Dominico Zapata / THINGS
This bach Raglan from the 1940s has remained virtually unchanged over the decades. It goes under the hammer on Wednesday.
Lugtons Managing Director Simon Lugton said demand from buyers in places like Cambridge and Te Awamutu continues to rise as potential buyers, with prices outside of Hamilton and Auckland, set their sights further south.
“Among these buyers are also families who want a little space for their children to run around, and they can get bigger sections in those places,” Lugton said.
Wayne Smallwood, CEO of Golden Homes Waikato, North Waikato and Taranaki, has seen a surge in buyer interest in Waikato cities such as Morrinsville, Matamata, Ngāruawāhia, and Te Kauwhata after the closure.
Smaller centers offer a greater variety of section sizes compared to cities like Hamilton, and have more land available to develop.
“If you look at Hamilton, he’s very restricted, things don’t go well,” Smallwood said.
“I’m sure all builders will tell a very similar story. They cannot get a good land or it is too slow to be released for development. Outside of Hamilton, we see land coming in faster, there are blocks of land of varying size and the price is affordable. “
Dominico Zapata / Things
This Greenslade Road bach overlooks Raglan’s Lorenzen Bay.
According to a new report from Stats NZ, Housing in Aotearoa: 2020, the number of New Zealanders owning their own homes has dropped to the lowest level in nearly 70 years.
At the time of the 2018 census, 64.5 percent of households owned their own homes. It’s the lowest rate since 1951, when only 61.5 percent of households owned their homes and is below the peak of 73.8 percent in the 1990s.
Amner isn’t sure what happened to his grandfather’s prized telescope, but he expects it to be worth around $ 5,000 today.
“It’s funny to think that you paid more for the telescope than for this place and now this land is worth more than a million dollars.”
