The view from the most expensive street in New Zealand, 20 Cremorne St in Herne Bay.
The view from the most expensive street in New Zealand, 20 Cremorne St in Herne Bay.
All of the country's most expensive streets are in the City of Sails, with almost half of the properties worth more than a million dollars.
Of the 8638 Auckland streets that Trade Me Property analysed 4108, or 47 per cent, had properties carrying an average estimate of $1m or more.
Trade Me Property's head of product Alistair Helm said the reality was the big city just wasn't affordable.
"It's the heart of the New Zealand economy, everything is over $400,000 give or take ... that is just the reality, because that is where the demand is."
The top 10 most expensive streets nationwide, all in Auckland, had average estimates per home in multi-million dollar figures. The bottom of this elite list, Bella Vista Rd, came in at $4.67m, or more than four times the city's average of $1.05m.
The priciest of the lot, the exclusive cul-de-sac Cremorne St, had an average estimated value per house of $8.83m.
Found in one of the city's most affluent suburbs, Herne Bay, the first in the country to have a median house price of more than $2m, Helm said the street's long-time status as the country's most expensive made sense.
"I look at it instantly: it's Herne Bay; it has very big houses, some of the most expensive houses, and it's in the most expensive suburb."
According to Trade Me figures given to the Herald, Herne Bay prices remained steady above the $2m mark, at $2.56m, keeping it the most expensive in the city, followed by Remuera at $2.16m.
According to QV there have been 21 sales in Herne Bay in the past three months. Properties have sold for an average 43 per cent more than their rating valuation, the property site said.
St Heliers, The Rise came in as the country's second most expensive street and in third place was Remuera's Arney Crescent with an average of $5.38m.
Helm said these streets, in traditionally wealthy suburbs, topping the list came as no surprise.
But, he said, one that was interesting was number five: Rawene Avenue in Westmere, a once-lesser-valued suburb, with an average estimate of $5.29m
"That's an up-and-moving suburb influenced by new builds; where people have been building onto existing homes or knocking it down and building a very, very smart new house."
The cluster of homes in the country's golden streets are well beyond most Kiwis' property dreams, owned instead by a number of the super city's elite.
Properties on Cremorne St, the cream of the crop, have a collective capital value of $92.9m and are owned by rich-listers, gym owners, a prominent lawyer and property developers.
The street's crowing glory is the house at number 12, with a capital valuation of $16.5m. The four-bedroom mansion on 3865sq m by the water, is co-owned by property developer and arts patron Adrian Burr with associate Mark Taylor.
Although this figure still puts it well below this year's biggest sale, the Coatesville Mansion, which sold for $32.5m and has a CV of $23.55.
Nipping at the street's most expensive, is the 7-bedroom estate just down the road at number 15, with a capital valuation of $15.5m owned by Lewis Grant and Stephen Lockwood. Both are also listed as owning number 20; a six bedroom, five-bathroom property with a CV of just under $10m; the third most expensive on the street.
The cheapest on Cremorne was still well above $1m, a property at 10A, listed on QV as having a capital valuation of $2.6m.
Queen's Council Colin Carruthers is another big name on the street, listed as the owner of number 8, a house once owned by former Heart of the City boss Alex Swney, who was jailed in 2015 for tax evasion worth nearly $5m.
And the owners of the 5-bedroom estate at number 6, with a CV of $7.7m, are Jacqueline and Phillip Mills of Les Mills Gym. The couple reportedly bought the estate in 1982 for $94,000 and spent a decade restoring it.
Outside of Auckland, the country's most expensive street was in Christchurch, Belfast's Mayfly Lane, with an average estimate per home $2.75m.
Just behind this was the capital's Oriental Parade in Oriental Bay at $2.72m.
In third-place was Arrowtown's Malaghans Ridge at $2.69m.
Those at the bottom of the property market are all outside of the main centres.
The cheapest street nationwide was Williams Ave in Ohura, in the King Country, with an average estimate of $78,000, well below the national average house price of $624,675.
In Auckland the cheapest streets were also below this, at the bottom, Coronation St in Te Hana, on the northern border of the super city region, had an average estimate of $373,636.
Just above this was Basin View Lane in Panmure, with an average estimate of $389,000
