Where are NZ's million dollar homes?

CLAIRE ROGERS
Last updated 13:35 09/11/2012

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More than 40,000 houses in New Zealand have a price tag of more than $1 million, says Quotable Value, and almost three quarters of them are in Auckland.

The state-owned valuer says there are more than 4600 streets in the country with five houses or more that have at least one property worth over $1m.

Twenty four streets have 100 or more million dollar properties and 118 can boast that every single property on the street is valued at over $1m.

Just three of the top ten streets with the most million dollar properties are outside Auckland – two in Tauranga and one in Wellington.

Remuera Road in Auckland city takes out first prize, with 319 of its 863 properties topping $1m.

Tauranga's Marine Parade is second with 296 out of 473 properties, and Victoria Avenue in Auckland city is third with 271 out of 381 properties.

Wellington's Oriental Parade comes in at sixth with 192 out of 278 properties in the million dollar club.

Auckland also dominated the list of streets with the highest median price, with eight of the top ten.

Cremorne Street in Auckland city took top honours with its 12 properties in the street recording a median price of $5.25m.

Second was Stack Street in Auckland city with the median price for its six properties reaching $3.4m, and Audrey Road on Auckland's North Shore came in third with its 29 properties delivering a median price of $3m.

The two streets outside Auckland to feature in the top ten were Streamside Estate in Queenstown Lake District, at ninth with eight properties recording a median price of $2.8m, and Breadalbane Place in the Whangarei District at tenth with a median price of $2.7m for its six properties.

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".

Outside Auckland the most expensive streets in the country – based on median price – are:

Wellington
Carlton Gore Road, Oriental Bay - $2.65m

Bay View Terrace, Oriental Bay - $2.3m

Oriental Parade, Oriental Bay - $1.7m

Christchurch
Searidge Lane, Sumner - $1.9m

Mayfly Lane, Northwood - $1.9m

Whitewash Head Road, Sumner - $1.55m

Queenstown Lakes
Streamside Estate, Arrowtown - $2.8m

Malaghans Ridge, Arrowtown - $2.1m

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Orchard Hill, Arrowtown - $2m

Other top streets
Breadalbane Place, Whangarei - $2.7m

Whakamoenga Point, Taupo - $1.9m

Mooloo Crescent, Thames Coromandel - $1.7m

- © Fairfax NZ News

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