Parnell/Newmarket

For a small place, Parnell has a huge impact on the city's culture and property values. It has some of the city's most beautiful old houses and the best cafe strip and boutique shopping. Newmarket has big, glitzy shops, whether it's the roadside shops or those in the improved Two Double Seven mall.

There are many old Auckland families in Parnell, and the suburb has been an established centre for the artistic intelligentsia.

Many families with secondary school-age children live here as it's mostly in-zone for Auckland Grammar and Epsom Girls Grammar and is close to many private schools.

By comparison, Newmarket attracts more Chinese buyers; it is cosmopolitan with lots of business people.

Parnell boasts some of Auckland's grandest old homes, but there are also sleek townhouses and many apartments, which are in high demand.

While Newmarket has fewer houses than Parnell, there are numerous 1840s workers cottages, which suit singles and childless professional couples.

Amenities

There is a primary school in Parnell and another in Newmarket, plus the private Junior College of New Zealand. Parts of the area are in zone for Auckland Grammar School and Epsom Girls Grammar School.

Gracing Parnell Rise are leading fashion houses, art galleries and some of the best restaurants and cafes.

Newmarket's shopping strip is busier and more commercial, with a mix of boutique retail and chain stores.

There are plenty of open spaces: the Auckland Domain, Parnell Rose Gardens and Dove-Myer Robinson Park, and a number of smaller reserves.

Both the Auckland Museum and the Auckland Cathedral are major centres of cultural activity. Parnell library is located in the former Foundation for the Blind building. Newmarket has two large cinema complexes. There are three tennis clubs, including the ASB Bank Tennis Centre, and public swimming at the Parnell Baths and the Olympic Pool & Fitness Centre.

Real estate

Trends

Parnell traditionally hasn't been a place for first-home buyers although the flood of trendy apartments offers more choice for high-earning younger folk.

In Newmarket, there are many new luxury high-rise apartments on the skyline, full of 50-somethings looking for inner city excitement.

Rental and investment: There are a lot of people who want to live here but can't afford to buy. This continues to fuel the rental market.

Best streets: The lower end of St Stephens Ave and streets off it, such as Bridgewater Rd, Crescent Rd and Judge St.