Wellington's million dollar club
Oriental Parade among NZ's priciest streets
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".
- © Fairfax NZ News
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