Cheapest house town Ōhura loses title as lack of sales skew numbers & More News Here – Upjobsnews

A remote settlement in the King Country boasting just 97 houses, may no longer be the cheapest place in the country to buy a home.

Ōhura was named the most affordable town in New Zealand, with a median price of only $43,760 in February 2021, by Homes.co.nz.

But, while the few house sales and tiny size of the settlement make establishing an accurate average house price all but impossible, locals say low prices are still drawing in new residents.

Ray White Taumarunui salesperson Tharaen Fearon said buyers were coming to Ōhura from all over the North Island.

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“In the last year, we sold two houses and seven sections,” Fearon said.

“There’s a lot of interest from people looking for land that will allow them to live off the grid … away from the crowds.”

Current owners were putting sections on the market to feed the demand, she said.

The agency has six active listings in Ōhura – including a 1444 square metre section on Ngarimu St with an RV of $14,000, an 890 square metre section on Kahu St selling for $45,000 and a 22,302 square metre section on Huia St at $100,000.

A one-bedroom, one-bathroom home on a 1315 square metre section on Kakapo St home is also on the market, selling for $205,000.

“Ōhura properties are still selling for less than surrounding areas. Largely contributed by the fact that there are no services or retail available. It’s a remote settlement, with the nearest town 45 minutes away.”

Head of research at CoreLogic, Nick Goodall, said based on the value of all properties, and not reliant on the number of sales, Ōhura is the 26th cheapest place in the country with a median value of $190,975 at the start of April 2022.

Ruatāhuna, in the Whakatāne District, was the cheapest at $39,650 and Stockton in the Buller District and Ngawha Springs, in the Far North District, were the second and third cheapest at $102,500 and $109,250 respectively.

According to Homes.co.nz the median house price in Ōhura was $60,000 but the Real Estate Institute of New Zealand [REINZ] puts the median price at $49,000.

REINZ chief executive Jen Baird said the variation in median house prices could be due to the low number of sales potentially distorting the figures.

Baird said three homes sold in the Ōhura ward in the past year and five sections, giving the median price of $49,000 with an average 168 days to sell.

The township was originally built on swampland, with twelve significant floods occurring in the last 41 years. On October 28, 1998, Ōhura experienced a 30-year rainfall event during a period of 48 hours.

The village and surrounding hill country was severely impacted with extensive damage to roads, bridges and infrastructure. The access roads were closed and up to 60 families were isolated for up to three weeks.

Eighteen houses were evacuated with floodwaters and silt entering 35 houses, some up to a height of 1.2m. Four commercial properties and schools were also flooded.

The near-abandoned village was the centre for coal mining from the 1930s, and it underpinned the town’s economy for the next 40 years.

When the state-owned mines closed, as well as the prison in 2005, many shops and community services closed, too. Inhabitants dwindle to approximately 160.

Today, the ghost-like village in the valley of the Waitewhena Stream includes a museum, a little caravan that provides Mexican food, a bowling club, fire brigade, the cosmopolitan club – which sells essential food at 4pm each day – and Ōhura Valley Primary School with a roll of 13 students.

Residents recall around 1000 residents, three garages, a primary and high school, a bank, food shops, greengrocer, picture theatre and an electrical business.

Michelle Foris moved to Ōhura seven years ago and opened up Fiesta Fare – an authentic Mexican cuisine cart with an outdoor escape on the adjoining section she purchased for $15,000.

“Life in Ōhura has been very unpredictable with Covid-19. You make plans but you hold them lightly,” Foris said.

“When I do open, it’s been extremely busy, but this [pandemic] has impacted me.”

Foris said she’s noticed people keen to get out of the cities and go somewhere where they can escape the city life.

“People are enjoying being out and being in the country.”

Foris, who also runs an Air BnB for visitors travelling to or through the town, says there’s demand for property, especially existing houses.

“But the issue we have is council have a designated it as a flood zone, making it very difficult to buy and build.

“People are reluctant to sell with skyrocketing house prices. There’s not a lot for sale and we go through cycles of nothing sells and everything sells.”

Foris said half of those that move to Ōhura leave within a year because small town life isn’t to their liking.

“For people who want to come to find that old-world feeling, the settlement is a real step back in time. Take your time, there’s lots to explore.”

Meanwhile, Taumarunui Property Brokers real estate agent Cameron Elliot said people are looking for cheap property.

“People I know personally seem to think there are a few more faces around town,” Elliot said.

But people weren’t buying property to live on it, instead, it’s the perfect spot for a holiday caravan.

Elliot’s previous sales in Ōhura were over two years ago when he sold three sections for $15,000 each – all had an RV of $1000 – and three residential properties ranging from $122,000 to $215,000.

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