Christchurch's million-dollar rows

CLAIRE ROGERS
Last updated 16:27 09/11/2012
Whitewash Head views
Carys Monteath

MILLION DOLLAR VIEW: Homes on Whitewash Head Rd look out across the sea to the city and Southern Alps.

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Three Christchurch streets are among the most expensive in the country, based on rateable valuations.

Quatable Value, which values properties for local authorities, has listed more than 40,000 houses in New Zealand with a price tag of more than $1 million.

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.

The three most expensive streets in Christchurch are Searidge Ln, Sumner, with a median price of $1.9m, Mayfly Ln, Northwood, also at $1.9m, and Whitewash Head Rd, Sumner, at $1.55m.

However, the rateable valuations in Christchurch were done before the earthquakes, meaning values may have changed considerably in different parts of the city.

Nationally, 24 streets have 100 or more million-dollar properties, and 118 can boast that every property on the street is valued at over $1m.

Just three of the top 10 streets with the most million-dollar properties are outside Auckland – two in Tauranga and one in Wellington.

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

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

Wellington's Oriental Pde 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 10.

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

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

The two streets outside Auckland to feature in the top 10 were Streamside Estate in Queenstown Lake District, at ninth with eight properties recording a median price of $2.8m, and Breadalbane Pl in the Whangarei District at 10th 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 homeowner is less than before".

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

Christchurch
~ Searidge Ln, Sumner - $1.9m.

~ Mayfly Ln, Northwood - $1.9m.

~ Whitewash Head Rd, Sumner - $1.55m.

Wellington
~ Carlton Gore Rd, Oriental Bay - $2.65m.

~ Bay View Tce, Oriental Bay - $2.3m.

~ Oriental Pde, Oriental Bay - $1.7m.

Queenstown Lakes
~ Streamside Estate, Arrowtown - $2.8m.

~ Malaghans Ridge, Arrowtown - $2.1m.

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~ Orchard Hill, Arrowtown - $2m.

Other top streets
~ Breadalbane Pl, Whangarei - $2.7m.

Whakamoenga Point, Taupo - $1.9m

Mooloo Crescent, Thames Coromandel - $1.7m

- BusinessDay.co.nz

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