The long-awaited Long Bay development isn't going to solve Auckland's housing affordability crisis.
But breath-taking views over Long Bay Regional Park mean many properties will reach $1 million-plus prices.
Even terraced housing is expected to start at $800,000.
Mayor Len Brown turned the sod on the subdivision's first house this month.
Mr Brown says Auckland's diverse population means affordability has different definitions depending where you are.
"Auckland Council is focused on delivering the houses that Auckland needs. Long Bay is one of our region's largest developments and is set to become a thriving community."
The average North Shore house sells for $730,000, a 12.7 per cent increase in 12 months, latest Quotable Valuation figures show.
Developer Todd Property Group expects a community of more than 5000 people will live on the 165-hectare site with more than 2000 homes.
The first residents are expected to move in by Christmas.
Four stages have sold out, about 235 house/townhouse sites, and three more stages are expected to be put up for sale soon.
"Long Bay is one of Auckland's most desirable locations. It sits alongside a beautiful regional park and we expect demand for homes to be strong," development manager Steve Martin says.
Mr Martin says Long Bay would benefit from having consents sped up through the proposed housing accord between the council and government.
The accord aims to tackle housing affordability and supply in Auckland.
GJ Gardner North Shore is the first house builders at the Long Bay development and owner Tony Houston has long links with the area.
His family had a bach at Long Bay that it left to make way for the new housing development.
He expects to sell the first house "with a holiday-type feel" for more than $1.25m.
The Long Bay development is expected to take 10 years to complete. It includes gateway ecological areas featuring a wetland with 100,000 native plants.
A public walkway through the wetland to the regional park entrance bridge on Beach Rd should open soon.
- North Shore Times
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