Modern History – The Luxury Issue 3, 2021

The

Issue 3, 2021

Luxury Issue Modern History

Lisa MacQueen

Verena Ryan

021 221 8622

027 522 0773

l.macqueen@barfoot.co.nz

PG

v.ryan@barfoot.co.nz

The Property Girls EXCEPTIONAL HOMES • EXCEPTIONAL SERVICE

A snapshot history of luxury sales in Remuera gives interesting insights and maybe a taste of things to come.

over ten million. The streets featuring highly are Arney Road, Lucerne Road and Victoria Avenue. There were also sales in Aldred Road, Arney Crescent, and Peach Parade (a residential section).

Back in the year 2000, there were two sales over five million. One in Arney Crescent, the other in Arney Road for $6.75m. In 2005 this increased to 6 sales over five million. Little changed in 2010, a year that saw 7 sales over five million, all of them located in double grammar zone. A more significant movement occurred in 2015, when there were 26 sales over five million and the boundaries pushed outside grammar zone to include Abbotts Way and Lucerne Road. But the real explosion in value occurred last year, the year Covid-19 hit, with a whopping 56 sales over five million.

Until 2015 there were no sales over fifteen million. A Victoria Avenue residence broke the barrier that year with a sale at $18.5m. Since then, there have been fifteen million plus sales in Aldred Road, Burwood Crescent, Remuera Road and Victoria Avenue. Development sites in Abbotts Way, Peach Parade and the top of Orakei Road, have seen also achieved values upward of fifteen million The record for the most expensive residential sale is a mansion in Remuera Road that sold for $25.5m in 2018.

The ten million dollar barrier was broken in 2014. Many of the 9 sales were sites on a land development in Portland Road. Between 2015 and 2019, the number of sales over ten million wavered between 3-7 sales per annum. Once again, the largest jump occurred in 2020, with 11 sales

If modern history is anything to go by, the number of sales in each category will increase. We can also expect extraordinary prices when landmark residences in our suburb come to the market. Watch this space!

Lisa MacQueen & Verena Ryan

May-July 2021: Sales eight million plus

15 Arney Road

121 Arney Road

2 Vincent Avenue

17 & 21 Waiata Avenue

Sold $13,500,000 CV $8,200,000 | CV Ratio 64.63% Land 1522m2 | Floor: 548m2

Sold $8,500,000 CV $5,800,000 | CV Ratio 46.55% Land 1148m2 | Floor 354m2

Sold $8,000,000 CV $7,000,000 | CV Ratio 14.29% Land 1399m2 | Floor 538m2

Sold $11,500,000 CV $13,400,000 | CV Ratio -14.18% Land 4649m2 | Floor 800m2

Verena Ryan and Lisa MacQueen

May-July 2021: Sales four million plus

21 Armadale Road

83 Arney Road

71 Bassett Road

105 Benson Road

5 Chatfield Place

Sold $6,750,000 CV $4,400,000 CV Ratio 53.41% Land 1,284m2 | Floor 362m2

Sold $5,808,000 CV $4,500,000 CV Ratio 29.07% Land 1,432m2 | Floor 133m2

Sold $6,140,000 CV $3,750,000 CV Ratio 63.73% Land 784m2 | Floor 272m2

Sold $5,900,000 CV $4,150,000 CV Ratio 42.17% Land 818m2 | Floor 464m2

Sold $4,750,000 CV $3,400,000 CV Ratio 39.71% Land 607m2 | Floor 304m2

16 Chatfield Place

58 Hapua Street

13 Keith Avenue

70 Ladies Mile

10 & 12 Leys Crescent

Sold $4,300,000 CV $3,900,000 CV Ratio 10.26% Land 1,097m2 | Floor 110m2

Sold $4,000,000 CV $2,205,000 CV Ratio 97.53% Land 609m2 | Floor 309m2

Sold $4,820,000 CV $4,200,000 CV Ratio 14.76% Land 1,133m2 | Floor 340m2

Sold $5,455,000 CV $4,050,000 CV Ratio 34.69% Land 2,195m2 | Floor 353m2

Sold $4,000,000 CV $3,205,000 CV Ratio 24.80% Land 1,375m2 | Floor 435m2

36 Lucerne Road

6 Martin Avenue

2 Peach Parade

2 Pere Street

18 Platina Street

Sold $5,300,000 CV $4,350,000 CV Ratio 21.84% Land 872m2 | Floor 380m2

Sold $6,050,000 CV $4,050,000 CV Ratio 49.38% Land 698m2 | Floor 276m2

Sold $4,075,000 CV $3,025,000 CV Ratio 34.71% Land 805m2 | Floor 363m2

Sold $6,138,000 CV $4,750,000 CV Ratio 29.22% Land 986m2 | Floor 421m2

Sold $4,450,000 CV $3,205,000 CV Ratio 38.85% Land 846m2 | Floor 275m2

105 Portland Road

8 Poto Street

16 Richard Farrell Avenue

3/198 Remuera Road

445 Remuera Road

Sold $4,150,000 CV $3,225,000 CV Ratio 28.68% Land 1,032m2 | Floor 320m2

Sold $4,720,000 CV $5,100,000 CV Ratio -7.45% Land 809m2 | Floor 430m2

Sold $5,000,000 CV $4,150,000 CV Ratio 20.48% Land 2,530m2 | Floor 264m2

Sold $5,135,000 CV $3,125,000 CV Ratio 64.32% Land: Unit Title | Floor 285m2

Sold $5,300,000 CV $3,250,000 CV Ratio 63.08% Land: 1,007m2 | Floor 292m2

15 Stirling Street

9 Te Kowhai Place

41A Upland Road

82 Upland Road

84 Victoria Avenue

Sold $4,945,000 CV $3,800,000 CV Ratio 30.13% Land 786m2 | Floor 262m2

Sold $4,700,000 CV $2,600,000 CV Ratio 80.77% Land 655m2 | Floor 313m2

Sold $4,450,000 CV $3,550,000 CV Ratio 25.35% Land 1,004m2 | Floor 260m2

Sold $4,600,000 CV $3,075,000 CV Ratio 49.59% Land 718m2 | Floor 272m2

Sold $6,400,000 CV $4,500,000 CV Ratio 42.22% Land 1,138m2 | Floor 340m2

153 Victoria Avenue

248 Victoria Avenue

288 Victoria Avenue

12 Woodley Avenue

Sold $4,500,000 CV $3,950,000 CV Ratio 13.92% Land 1,034m2 | Floor 410m2

Sold $4,900,000 CV $4,800,000 CV Ratio 2.08% Land 1/2 1,836m2 | Floor 329m2

Sold $6,000,000 CV $3,650,000 CV Ratio 64.38% Land 953m2 | Floor 259m2

Sold $4,850,000 CV $4,250,000 CV Ratio 14.12% Land 1,251m2 | Floor 358m2

Verena Ryan and Lisa MacQueen

May-July 2021: Sales in the threes 2B Abbotts Way

31 Armadale Road

70 Bell Road

80A Bassett Road

Sold $3,450,000 CV $2,400,000 | CV Ratio 43.75% Land 799m2 | Floor 350m2

Sold $3,330,000 CV $1,925,000 | CV Ratio 72.99% Land 627m2 | Floor 171m2

Sold $3,150,000 CV $2,825,000 | CV Ratio 11.5% Land 666m2 | Floor 245m2

Sold $3,350,000 CV $2,875,000 | CV Ratio 16.52% Land 1/2th 1669m2 | Floor 268m2

21 Buttle Street

74 Clonbern Road

28 Eastbourne Road

59B Grand Drive

Sold $3,500,000 CV $2,675,000 | CV Ratio 30.84% Land 789m2 | Floor 185m2

Sold $3,570,000 CV $3,100,000 | CV Ratio 15.16% Land 875m2 | Floor 284m2

Sold $3,700,000 CV $3,100,000 | CV Ratio 19.35% Land 613m2 | Floor 207m2

Sold $3,100,000 CV $2,150,000 | CV Ratio 44.19% Land 403m2 | Floor 284m2

33 Komaru Street

55 Koraha Street

30 Maui Grove

58 Orakei Road

Sold $3,960,000 CV $3,025,000 | CV Ratio 30.91% Land 732m2 | Floor 191m2

Sold $3,210,000 CV $1,775,000 | CV Ratio 80.85% Land 703m2 | Floor 160m2

Sold $3,150,000 CV $2,175,000 | CV Ratio 44.83% Land 492m2 | Floor 270m2

Sold $3,450,000 CV $3,025,000 | CV Ratio 14.05% Land 1083m2 | Floor 194m2

10 Ormonde Road

48 Portland Road

79 Remuera Road

5/86 Remuera Road

Sold $3,700,000 CV $2,700,000 | CV Ratio 37.04% Land 846m2 | Floor 202m2

Sold $3,470,000 CV $2,250,000 | CV Ratio 54.22% Land 703m2 | Floor 112m2

Sold $3,675,000 CV $3,000,000 | CV Ratio 22.5% Land 544m2 | Floor 222m2

Sold $3,775,000 CV $2,600,000 | CV Ratio 45.19% Land: Unit Title | Floor 254m2

10C Seascape Road

52A St Vincent Avenue

156 Upland Road

179 Upland Road

Sold $3,007,000 CV $1,700,000 | CV Ratio 76.88% Land 527m2 | Floor 255m2

Sold $3,248,000 CV $2,000,000 | CV Ratio 62.4% Land 566m2 | Floor 278m2

Sold $3,300,000 CV $2,475,000 | CV Ratio 33.33% Land 701m2 | Floor 197m2

Sold $3,137,500 CV $2,825,000 | CV Ratio 11.06% Land 1/2th 938m2 | Floor 214m2

188 Upland Road Sold $3,200,000 CV $2,700,000 | CV Ratio 18.52% Land 615m2 | Floor 263m2

Lisa MacQueen 021 221 8622

l.macqueen@barfoot.co.nz Verena Ryan

027 522 0773

v.ryan@barfoot.co.nz

This publication shows data regarding a wide selection of published residential property sales. The information comes from multiple sources and published reports of sales made by most Real Estate agencies, and may include private sales. Where data is not publicly available, an individual sale may not be reported. Every reasonable effort has been made to ensure the accuracy of the information. Lisa MacQueen, Verena Ryan and Barfoot and Thompson Limited (REAA2008) accept no responsibility should the contents of this market report prove to be incomplete or incorrect.

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