By Beckie Wilson
South Wairarapa’s cheapest residential home could have been bought 10 times over for the price of the most expensive.
The latest QV data has released its list of most and least expensive house sales in South Wairarapa for the 12 months to December 20, 2016. BECKIE WILSON reports.
Fitzherbert St, Featherston – cheapest residential sale
The Featherston main street property was the lowest residential sale in South Wairarapa being sold for $126,300 in June.
The 126 Fitzherbert St two-bedroom, 60sqm home sits on a 371sqm section.
Erin Nesdale, sales consultant at Property Brokers Martinborough, said the home had always been a rental. “The property was in need of a serious clean and maintenance work. The purchasers have cleaned it up and changed it around so the front small room can now be used as a small bedroom,” she said.
“The proximity to the road was an issue with anyone who was going to live in it themselves, however, it was not an issue for the investors.”
The purchaser doesn’t live in Wairarapa and bought the property as an investment, she said.
Previously the property had been on the market in 2009, and twice in 2006.
Wood St, Greytown – most expensive residential sale
The four-bedroom villa sits on a 2382sqm section complete with gardens, lawn and a swimming pool at 45 Wood St. The property was sold for $1.3m in December 2015 and is now luxury accommodation.
Greg Williams and Sarah Thompson bought the original family home after spending the last 20 years living in Sydney and London, and travelling the world for work.
They moved back to New Zealand two years ago and saw the opportunity for a new project with this property.
“We saw it on December 30, 2015 and bought it on the 31st,” Mr Williams said.
“It was an emotional purchase, but it just seemed to me after buying and selling property in Sydney, the comparative pricing seemed perfectly reasonable to us.”
The couple bought the home as a long-term investment, and with the intention of opening it as luxury accommodation for families, corporate events and for weddings.
“Basically, we saw a hole in the market in Greytown as a place where you could just go and be.
“What you get is a house perfectly appointed, amazing grounds and immaculate gardens, to go there and chill.”
It was a beautiful family home with the previous owners having lived living there for 10 years. The home was built in 1895, The gardens were mature and everything was done, we just did the finishing touches, he said.
Mr Williams said over time, Greytown and the Wairarapa in general will develop nicely with people coming from all over the country to visit and buy in this ‘special place’.
“It’s an interesting project, over time it’s a good investment because Greytown is going from strength to strength.”
* The South Wairarapa’s most expensive lifestyle block to be sold for the year was on Puruatanga Rd, Martinborough which realised just shy of $2,000,000. The Martinborough lifestyle block has is a 430sqm home sitting on a 2.27ha section. The property neighbours are LUNA Estate, Ata Rangi-Vineyard and Winery, and Poppies Martinborough.
Explanation: It’s possible some unconditional sales may have occurred that have not yet been finalised.