Devonport

Seaside location and zoning that protects the streetscape of heritage homes are key reasons why Devonport has one of the highest average house prices in Auckland.

The picturesque pre-1930s bungalows and villas that are protected from drastic alteration or removal sell for an average price of $350,000. A do-up can sell from $300,000 in Devonport, while properties in the most exclusive spots near Cheltenham beach can fetch around $600,000.

Such prices aren't deterring buyers within the area and ex-pat Kiwis and new residents from Europe and America, who are happy in the knowledge that heritage zoning protects them from unsympathetic renovations and poor quality new buildings that can devalue an area.

Devonport is enjoying the same buoyant market as the rest of the city, with signs of supply outstripping demand. There's keen interest in all styles of houses, from the large mansions on big grounds that the merchants built in the early days around Stanley Bay, to the smaller workingmen's cottages on smaller sites.

Prices for a fully restored villa can vary from $600,000 to $1m, depending on the location, with homes just five or six up from the beach fetching up to $1m.

Before Christmas, the sale of one outstanding property fetched $4m and set a benchmark for a suburb that is popular with city commuters for its short ferry ride from downtown Auckland.