Wellington's million dollar club

Oriental Parade among NZ's priciest streets

Last updated 15:25 09/11/2012
Oriental Bay
JOHN NICHOLSON/Fairfax NZ

With the average asking price more than $1m, Oriental Bay is Wellington's priciest suburb.

Relevant offers

Commercial Property

Aussie owner of Wellington offices gets OIO nod for $100m property fund Does Wellington need a new secondary school in Karori? Taupo All Seasons Kiwi Holiday Park for sale Old Bank Arcade Wellington retailers prompt City Council sign policy review The Warehouse could quit Wainuiomata if mall upgrade doesn't happen soon Globally cheap industrial space rents in Auckland, Wellington and Christchurch Taranaki CBD office on the market, leased by Todd family Conservation House and Tel Tower in Wellington CBD on the market Odours from mushroom farm force rethink over location of kura kaupapa Non-structural elements a risk to life in earthquake says NZ Insurance Council

More than 40,000 houses in New Zealand have a price tag of more than $1 million, says Quotable Value, including a host of houses in Wellington's Oriental Bay.

Of all the streets in New Zealand, Oriental Parade has the sixth most million-dollar properties, with 192 of 278 propeties on the street in the million dollar club.

The state-owned valuer says almost three-quarters of the nation's million-dollar homes are in Auckland. More than 4600 streets nation wide with five or more houses have at least one property worth more than $1m, while 24 streets have 100 or more million-dollar properties.

One hundred and eighteen streets can boast that every single property on the street is valued at more than $1m.

Of Wellington streets, the most expensive by median house price is Carlton Gore Rd in Oriental Bay, where a median house would set you back $2.65m.  Bay View Tce, also in Oriental Bay, comes second, with a median price of $2.3m. The median Oriental Parade house costs $1.7m.

The average house price in Wellington city is $550,000. The average Oriental Bay-Roseneath house price is $1.06m.

QV said about 12,400 of the more than 40,000 million-dollar or more properties were outside Auckland.

"This may not come as a surprise to some, especially considering most of our population is based in Auckland. But ... it's a measly ratio."

The valuer said "it's all relative", but "it seems the elusiveness and exclusivity of being a million-dollar home owner is less than before".

Ad Feedback

- The Dominion Post

Comments

Special offers
Opinion poll

Do you rent or own your home?

Rent alone

Rent with others

Own with mortgage

Own freehold

Vote Result

Related story: $1m-plus in unclaimed bonds

Featured Promotions

Sponsored Content