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$3 million record price for Wainui house in Gisborne

For the first time in history a Gisborne house has sold for $3 million.

Wainui coastal property specialist Bronwyn Kay said the sale of a Wainui beachfront property had been agreed for a record $3m, after an out-of-town buyer contacted her to find a property at Wainui.

Ms Kay said the buyer, a former Gisborne resident, agreed to pay $3m, after Ms Kay contacted the existing owners and asked them how much they would want in order to sell.

“So he came up to $3m.”

The three-bedroomed property with sleepout on Wairere Rd had a listed capital value (CV) of $1.5m and was bought ”sight unseen” following a digital viewing.

“I guess it goes to show if you can source the right property the buyers are out there,” Ms Kay said.

Ms Kay said she was not surprised by the price, given a shortage of quality properties on the market.

There was also still high demand with buyers still around in “big numbers”, she said.

“At open homes last weekend, I had 28 groups through one property, 24 groups through another and 15 groups through a third.”

It is the second time in two months Gisborne's residential sale record has fallen and the third time since the start of the year.

The previous record was $2.8m for a Salisbury Rd property purchsed in September.

Before that, the record sale was $2.775m paid for a house, also on Wairere Rd, Wainui earlier this year.

Data from the Real Estate Institute previously provided to The Herald showed 10 percent of all house sales here over the first half of 2021 went for $1 million or more.

MILLIONAIRE ROW: A Wainui beachfront property has smashed the region's residential sale record, fetching $3m. Picture by Ben Cowper
RECORD: 107 Wairere Road sold for a record $3 million. Picture by Liam Clayton