Key Takeaways
- The Coromandel Peninsula offers two distinct coastlines with different characteristics, attracting different types of buyers
- The west coast is known for its estuary-like environment, fishing, and pōhutukawa trees, while the east coast features golden-sand beaches and a more vibrant town atmosphere
- The east coast is more popular among holidaymakers and those seeking a luxurious lifestyle, while the west coast attracts permanent residents, retirees, and families
- The median property prices vary significantly between the two coasts, with the east coast being more expensive
- Buyers are drawn to the Coromandel Peninsula for its lifestyle, natural beauty, and amenities, with many relocating from other parts of the country
Introduction to the Coromandel Peninsula
The Coromandel Peninsula, located southeast of Auckland and northeast of Hamilton, is a popular destination for those seeking a unique and diverse lifestyle. The peninsula stretches from Thames to Fletcher Bay in the east and Port Jackson in the west, offering two distinct coastlines with different characteristics. According to Bayleys Coromandel director and general manager Shaun Paterson, the choice between the two coasts ultimately comes down to personal preference. "They are very different markets. One’s more estuary-like and one’s golden-sand beaches. People either love the west coast or they love the east coast."
The West Coast
The west coast of the Coromandel Peninsula is characterized by its estuary-like environment, with the road meandering under the red pōhutukawa tree canopies and passing through the bays of Ngārimu and Thornton. The villages of Te Puru, Waiomu, Ruamahunga, Tapu, and Te Mata are nestled on the still water of the Firth of Thames, offering a peaceful and serene atmosphere. The west coast is particularly popular among those who enjoy fishing, with the protection of the coastline providing a haven for fishermen. Paterson notes that the west coast is driven by fishing or people who are permanent or want to be closer to the city.
The East Coast
In contrast, the east coast of the Coromandel Peninsula is known for its golden-sand beaches and vibrant town atmosphere. The east coast is home to a plethora of beaches and beach towns, including Wharekaho, Whitianga, Cooks Beach, Ferry Landing, Hāhei, Cathedral Cove, Hot Water Beach, Tairua, Pauanui, poutere, nemana, Whangamatā, and Whiritoa. The east coast is particularly popular among holidaymakers and those seeking a luxurious lifestyle, with Whangamatā being home to some of the most exclusive and expensive beachfront real estate. Paterson notes that the east coast has grown off the back of it being led by beach holidays, with towns like Whangamatā and Whitianga offering shopping, a cafe culture, tourist attractions, boating, diving, golfing, and surfing.
Real Estate Market
When it comes to buying property on the Coromandel Peninsula, Paterson says buyers look for locations that suit their needs. The west coast is attractive to permanent residents, retirees, and families, while the east coast is popular among holidaymakers and those seeking a luxurious lifestyle. The median property prices vary significantly between the two coasts, with the east coast being more expensive. In September, Bayleys sold a beachfront property in Whangamatā for a record-breaking $8.5 million, highlighting the demand for luxury properties on the east coast. A breakdown in median price points showed the marked differences between the two coasts, with the east coast averaging $1.13m in Whangamatā and Pauanui, $1.04m in Tairua, and $850,000 in Whitianga, while the west coast averaged $660,000 in Thames and $641,000 in Coromandel Town.
Buyer Demographics
The Coromandel Peninsula attracts a range of buyers, from those seeking a work-life balance to holidaymakers and retirees. According to Paterson, 74% of buyers come from outside the area, with a significant number relocating from the Bay of Plenty. The narrative is often the same, with buyers seeking to escape the fast-paced city lifestyle and enjoy the natural beauty and amenities of the Coromandel Peninsula. Paterson notes that the growth in the area has also attracted buyers who are looking for work in the trades, as well as those seeking a holiday home or a permanent residence.
Conclusion
The Coromandel Peninsula offers a unique and diverse lifestyle, with two distinct coastlines catering to different types of buyers. Whether you prefer the estuary-like environment of the west coast or the golden-sand beaches of the east coast, the Coromandel Peninsula has something to offer. With its natural beauty, amenities, and range of properties, the Coromandel Peninsula is an attractive destination for those seeking a new lifestyle or a holiday home. As Paterson notes, the Coromandel Peninsula is a place where you can find a lifestyle that suits your needs, whether you’re looking for a peaceful retreat or a vibrant town atmosphere.