L Hot Spots
uxury property sales peaked in the midst of the global pandemic. While none of us wish to revisit those uncertain days, there remains a strong and persistent hope that sales volumes, and prices, might climb once again.
Buoyed by the covid boom of 2021, it’s easy to forget that just a decade ago, sales volumes were around half of what they are today.
Number of sales
But numbers alone don’t tell the full story. Certain segments of the market are thriving, while others have slowed. Fully renovated, move-in-ready homes continue to perform strongly, attracting significant interest and achieving premium prices.
In contrast, unrenovated estates—once highly sought after—are feeling the pressure, as developers step back and buyers face a wider array of options.
If there’s one clear hot spot, it’s this: the demand for turnkey, fully renovated residences is not just holding—it’s heating up.
And since 2018 the average price has tracked reasonably steadily around $6.9m.
Key: This analysis considers reported sales $4m plus in Parnell, Remuera, Orakei, Mission Bay, Kohimarama and St Heliers. CVs quoted are 2021 as these were applicable at the time of sale.
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Lisa MacQueen
This issue of Lisa MacQueen’s The Luxury Issue features a wide selection of published residential property sales. The information comes from multiple sources and may include private sales. Where data is not publicaly available, a sale may not be reported. While every reasonable effort has been made to ensure the accuracy of the information, inaccuracies may occur, and you should not confine yourself solely to the contents and should make your own inquiries to satisfy yourself in all respects. Megan Jaffe Real Estate Ltd Licensed (REAA 2008) Ray White Remuera and/or Lisa MacQueen, accept no responsibility should the contents of this Issue prove to be incomplete or incorrect.
Ray White Remuera | Megan Jaffe Real Estate Ltd (Licensed REAA 2008)
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