Moving Forward - The Luxury Issue 6, 2022

The

Issue 6, 2022

Luxury Issue Moving Forward

Lisa MacQueen

Verena Ryan

021 221 8622

027 522 0773

l.macqueen@barfoot.co.nz

PG

v.ryan@barfoot.co.nz

Verena Ryan

Lisa MacQueen

027 522 0773

021 221 8622

v. r y a n @ b a r f o o t . c o . n z

l.macqueen@barfoot.co.nz

Moving Forward

F

or many the decision to sell the family home has more to do with moving forward on life’s journey than the property cycle. An extra bedroom is sought for the birth of a precious child, expressive teenagers are hanging out for their own living space, additional garaging is sought for growing acquisitions, a pool is wanted for fun in the sun. As the journey continues there may come a desire to simplify and downsize to a smaller, easy-care footprint or move out of the city. Along with divorce, debt and death these motivations propel the decision to sell, and none of them have anything to do with where we are on the property cycle.

schools, proximity to excellent shopping precincts, and closeness to city, waterfront and transport links. It is facilitated by a growing number of purchasing choices including standalone houses, new build terraced housing, and apartments. The last quarter saw continued strong sales numbers as sellers adjusted to the market and adopted realistic expectations. Although capital value is not market value, everyone always asks about the ratio.

Last quarter saw 30 properties sell above CV, 11 below CV. The CV ratio is not available for 5 properties either because they were new builds or the sale price has not yet been publicly reported.

As human beings we are wired to move forward.

Moving forward today includes reaping the reward of accumulated gains that have come from owning real estate in this pre-eminent suburb with its access to top

We hope you enjoy studying the sales and planning your move forward.

Lisa MacQueen & Verena Ryan

Lisa MacQueen and Verena Ryan

June-October 2022 Sales

2 Arney Road

6 Arney Road

20 Arney Road

52 Arney Crescent

113 Arney Road

Sold TBA CV $11,400,000 Land 1252m2 | Floor 591m2 CV Ratio N/A

Sold $8,300,000 CV $7,400,000 Land 1007m2 | Floor 470m2 CV Ratio 12%

Sold TBA CV $12,500,000 Land 1416m2 | Floor 492m2 CV Ratio N/A

Sold $7,680,000 CV $8,300,000 Land 1320m2 | Floor 403m2 CV Ratio -7%

Sold $4,430,000 CV $5,100,000 Land 922m2 | Floor 245m2 CV Ratio -13%

147 Arney Road

128 Bassett Road

12 Belmont Terrace

60 Clonbern Road

41 Combes Road

Sold $11,550,000 CV $9,800,000 Land 1447m2 | Floor 322m2 CV Ratio 18%

Sold $3,100,000 CV $3,100,000 Land 617m2 | Floor 302m2 CV Ratio 0%

Sold $3,450,000 CV $2,325,000 Land 369m2 | Floor 84m2 CV Ratio 48%

Sold $4,500,000 CV $3,750,000 Land 774m2 | Floor 307m2 CV Ratio 20%

Sold $8,500,000 CV $6,200,000 Land N/A | Floor 441m2 CV Ratio 37%

20 Dell Avenue

33A Entrican Avenue

8 Homai Street

5 Keith Avenue

15B Lillington Road

Sold $3,990,000 CV $3,275,000 Land 612m2 | Floor 184m2 CV Ratio 22%

Sold $5,300,000 CV $5,900,000 Land 847m2 | Floor 375m2 CV Ratio -10%

Sold $4,359,000 CV $4,000,000 Land 685m2 | Floor 263m2 CV Ratio 9%

Sold $5,175,000 CV $4,100,000 Land 1133m2 | Floor 307m2 CV Ratio 26%

Sold $3,060,000 CV $N/A Land 405m2 | Floor 243m2 CV Ratio N/A

1A Mahoe Avenue

22A Mahoe Avenue

33 Market Road

39 Market Road

46 Middleton Road

Sold $4,150,000 CV $3,500,000 Land 1/2 1072m2 | Floor 332m2 CV Ratio 19%

Sold $5,015,000 CV $4,150,000 Land 892m2 | Floor 291m2 CV Ratio 21%

Sold $7,105,000 CV $3,250,000 Land 1405m2 | Floor 360m2 CV Ratio 119%

Sold $5,750,000 CV $7,300,000 Land 1819m2 | Floor 701m2 CV Ratio -21%

Sold $3,500,000 CV $N/A Land 397m2 | Floor 416m2 CV Ratio N/A

601/10 Middleton Road

42 Norana Avenue

18 Ohinerau Street

22B Omahu Road

79 Orakei Road

Sold $3,500,000 CV $3,050,000 Land Unit Title | Floor 131m2 CV Ratio 15%

Sold $3,100,000 CV $3,200,000 Land 632m2 | Floor 217m2 CV Ratio -3%

Sold $3,825,000 CV $3,175,000 Land 620m2 | Floor 263m2 CV Ratio 20%

Sold $4,800,000 CV $4,650,000 Land 704m2 | Floor 380m2 CV Ratio 3%

Sold $3,660,000 CV $3,325,000 Land 627m2 | Floor 164m2 CV Ratio 10%

TBA = To Be Advised | N/A = Not Available

Lisa MacQueen and Verena Ryan

June-October 2022 Sales (continued)

3 Platina Street

45B Portland Road

401/308 Remuera Road

171 Remuera Road

422D Remuera Road

Sold $4,200,000 CV $3,550,000 Land 846m2 | Floor 218m2 CV Ratio 18%

Sold $3,326,000 CV $3,650,000 Land 1006m2 | Floor 313m2 CV Ratio -9%

Sold $12,771,500 CV N/A Land Unit Title | Floor 384m2 CV Ratio N/A

Sold $8,888,888 CV $6,100,000 Land 994m2 | Floor 377m2 CV Ratio 46%

Sold $4,435,000 CV $3,900,000 Land Unit Title | Floor 275m2 CV Ratio 14%

4/456 Remuera Road

12/460 Remuera Road

724 Remuera Road

13 Ridings Road

73A Shore Road

Sold $3,210,000 CV $3,150,000 Land Unit Title | Floor 219m2 CV Ratio 2%

Sold $4,500,000 CV $3,800,000 Land Unit Title | Floor 179m2 CV Ratio 18%

Sold $4,600,000 CV $4,500,000 Land 1295m2 | Floor 362m2 CV Ratio 2%

Sold $5,450,000 CV $4,950,000 Land 755m2 | Floor 249m2 CV Ratio 10%

Sold $5,250,000 CV $4,900,000 Land 1322m2 | Floor 297m2 CV Ratio 7%

41 Spencer Street

20 Te Kowhai Place

22A Upland Road

33 Upland Road

74 Victoria Avenue

Sold $3,533,000 CV $3,325,000 Land 667m2 | Floor 226m2 CV Ratio 6%

Sold $3,200,000 CV $3,275,000 Land 607m2 | Floor 215m2 CV Ratio -2%

Sold $9,200,000 CV $7,700,000 Land 1326m2 | Floor 660m2 CV Ratio 19%

Sold $5,200,000 CV $7,000,000 Land 2236m2 | Floor 293m2 CV Ratio -26%

Sold $12,380,000 CV $11,000,000 Land 2819m2 | Floor 780m2 CV Ratio 13%

99 Victoria Avenue

142 Victoria Avenue

169 Victoria Avenue

193D Victoria Avenue

306 Victoria Avenue

Sold $3,800,000 CV $3,900,000 Land 557m2 | Floor 228m2 CV Ratio -3%

Sold $6,650,000 CV $5,800,000 Land 703m2 | Floor 335m2 CV Ratio 15%

Sold $10,250,000 CV $9,000,000 Land 1562m2 | Floor 641m2 CV Ratio 14%

Sold $3,100,000 CV $3,700,000 Land Unit Title | Floor 209m2 CV Ratio -16%

Sold $4,620,000 CV $4,550,000 Land 607m2 | Floor 216m2 CV Ratio 2%

314 Victoria Avenue

29 Westbourne Road Sold $7,000,000 CV $7,400,000 Land 1482m2 | Floor 384m2 CV Ratio -5%

Sold $6,775,000 CV $5,600,000 Land 713m2 | Floor 346m2 CV Ratio 21%

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.

Remuera Branch, 417 Remuera Road | 09 524 0149