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A rare and unique piece of Coromandel’s finest coastal land has come on to the market; 720 Purangi Road, Cooks Beach, is now for sale.
Cooks Beach is situated in one of the most picturesque areas on the eastern seaboard of the Coromandel. It is just 10mins away from world famous Hot Water Beach, Cathedral Cove and Hahei Beach and is a short ferry trip to all services in Whitianga town. And with three kilometres of lush golden, unspoiled sand with safe waters, it is a very popular with tourists.
John Binning, Commercial Sales and Investments broker for Jones Lang LaSalle, says, “Coastal residential property continues to remain an extremely popular property investment option in the upper North Island market. Like many coastal and resort areas, dwelling and section prices in the Thames-Coromandel area outperformed national prices during the boom years last decade. Having fallen back below the national average through 2010-2011 coastal values in the Coromandel have continued to recover.”
“This provides us evidence that the Coromandel coastal property market is highly correlated to the success of the Auckland property market. And as the Auckland market gathers momentum owners looking to purchase holiday accommodation are able to leverage the equity in their homes in order to make an investment into the region. Given the recent performance of the Auckland housing market (24.7% increase in median prices over the past 2 years), the outlook for property in the Coromandel remains strong.”
Phil Dawson, sales agent for Richardson Real Estate, adds, “I have lived in Cooks Beach for 24 years and it is one of the most beautiful places in New Zealand. In fact, it is named after Captain Cook, who found it so beautiful that he decided to name it after himself!