These are the most expensive streets in New Zealand – and the cheapest
The housing market is crazy, but sales figures for the past three years show these streets to be the most expensive of them all.
Chief Economist Ray White, Nerida Conisbee, used council sales data from the nation’s largest cities to show that the most expensive street in Auckland – and New Zealand – is Marine Parade in Herne Bay, with a median selling price of $ 9.375 million.
The street has long been known as one of Auckland’s most elite streets. It winds around Auckland Harbor and is full of grand old mansions and designer homes.
In Christchurch, the most expensive street is Jacksons Road, straddling the suburbs just north of the city center, Merivale and Fendalton. There, the median home price was $ 2.55 million.
Although there is no sea view from Jacksons Road, it is less than 2 miles from the CBD, has many beautiful old houses and is home to several private schools in Christchurch including Rangi Ruru Girls’ School, St Margaret’s College, Selwyn House and St Andrew’s University.
In Wellington, Oriental Parade, Oriental Bay, is the most expensive street, with a street median of $ 3.1 million.
The popular beachfront address, just one kilometer from the city center, is a popular spot for walkers, runners and cyclists on a good day. It is known that people swim in Orient Bay all year round.
Conisbee also looked at the more affordable streets of Auckland, Christchurch and Wellington. This was Port Albert Road in Wellsford, with a street median of $ 547,500; Grimseys Road, Redwood ($ 507,000); and Mark Avenue, Paparangi ($ 639,000).
Conisbee says that while the Herne Bay Marine Parade has a view of the water, “that’s not necessarily the case for the more expensive addresses in every town.”
âSome of the features that often appear in New Zealand’s more expensive suburbs include large land sizes, access to beaches or parks, a good level of public infrastructure, low crime, good views, l ‘access to amenities and close distance to the CBD.
In contrast, she found that common features of more affordable streets included smaller lots.
“They are often found in busy streets, poor local infrastructure, poor or remote access to amenities, and they often contain a high proportion of aging government-supplied housing.”
âIt is interesting that the more affordable streets are not that cheap, especially in Christchurch and Wellington, where the gap between the most expensive and the cheapest is relative, especially compared to Auckland, which has a much larger gap. “
If you’re not looking for a multi-million dollar home, there are still suburbs of Auckland where more than 10 percent of properties sell for under $ 500,000, according to men’s figures. co.nz.
The real estate listing website’s October figures put the median home estimate at $ 1.3 million and the median first-time buyer estimate at $ 983,000.
But he also found 10 suburbs where more than 10% of this year’s sales were under $ 500,000: Auckland Central, Grafton, Newmarket, Manukau, Otahuhu, Ponsonby, East Tamaki, Wiri, Freemans Bay and Eden Terrace.
Many of these will be apartments, and nationwide there are few good deals to be found.
TradeMe Property has released its figures showing a 23% increase in the average asking price for homes in one year to a new record high of $ 936,150, a jump that its sales manager Gavin Lloyd calls “breathtaking.”
Ray White Ponsonby’s agent Jan George sold his first home on Marine Parade in Herne Bay 25 years ago.
What makes it desirable, next to the water and the views, is that it is “very quiet and nearby,” she says. âAnd yet it is so close to the CBD, the Wynyard, Westhaven and freeway accesses, restaurants, cafes and shops of Jervois and Ponsonby Roads and good supermarkets.â
She says the properties are often closely held.
âHouses are often kept from generation to generation, within families. “
The second most expensive street in New Zealand was also found in Auckland: Arney Crescent de Remuera, with a median house price of $ 6.25 million.
Ray White Remuera salesperson Steve Koerber said the address was “the quintessential northern slopes of Remuera at its best”.
âWhat more could you ask for than harbor and city views, sunshine, quiet, leafy and expensive neighboring houses, the list goes on.
“Small townhouses start at around $ 2 million and houses larger on large sections can fetch over $ 15 million.”
* Ray White’s analysis looked at the council’s sales figures for the past three years, taking only data from streets where three or more homes had been sold during that time period.