PHOTO: Demar Cratic
New Zealand’s Most Expensive and Cheapest Streets Revealed – Where Does Your Street Rank?
In the world of real estate, some streets have an undeniable reputation for prestige, exclusivity, and sky-high property values. In contrast, others remain affordable, often reflecting their distance from economic hubs and employment opportunities.
The Streets That Scream Luxury
When it comes to New Zealand’s most expensive streets, one name dominates the conversation: Victoria Avenue in Auckland’s Remuera. According to Ray White’s latest data analysis, Victoria Avenue has emerged as the priciest residential street in the country, with a staggering median home value of $6.65 million over the past three years.
The street has long been associated with wealth and status, and high-profile sales have helped cement its reputation. One such notable transaction was the $20 million sale of yachting boss Grant Dalton’s former mansion last year, handled by New Zealand Sotheby’s International Realty.
Victoria Avenue has now surpassed other ultra-exclusive streets such as Marine Parade in Herne Bay and Arney Crescent in Remuera, further emphasizing Auckland’s dominance in the luxury property market.
The Other End of the Spectrum – New Zealand’s Cheapest Streets
At the other end of the scale, the most affordable street in the country is Oregon Drive in Murupara, Bay of Plenty, where the median home value sits at just $183,000.
Following closely behind are:
- Birchwood Road, Ohai, Southland ($197,000)
- Hastings Street, Ohai, Southland ($199,000)
Ray White’s senior data analyst, Atom Go Tian, highlighted how affordability is heavily influenced by geographic isolation and economic factors. Unlike Auckland’s premium streets, which are sought after for harbour views and proximity to amenities, New Zealand’s cheapest streets reflect declining traditional industries, limited job opportunities, and remoteness from major urban centres.
How Do We Compare to Australia?
For perspective, New Zealand’s priciest streets pale in comparison to Australia’s luxury property market. The most expensive street in Australia is Wolseley Road in Sydney’s Point Piper, where the median sale price sits at a staggering A$23 million—three times the value of New Zealand’s most expensive street.
What’s Next for the Market?
With house price trends shaping buyer demand, all eyes are on the upcoming Real Estate Institute of New Zealand (REINZ) house price index and sales figures.
These will be the last figures under Jen Baird’s leadership, as the REINZ CEO recently announced her move to Bayleys Real Estate. This shift comes at a time when the real estate market is showing signs of stabilization, with sales volumes recovering and buyers having plenty of options.
Bayleys CEO Mark Macky predicts that while prices may remain steady, premium properties will continue to attract strong interest if marketed correctly.
Outgoing REINZ CEO Jen Baird. She is heading to Bayleys Real Estate. Photo / Supplied
Final Thoughts
Whether you’re looking for a trophy home in Remuera or an affordable investment in Murupara, New Zealand’s property market continues to evolve. As high-end suburbs hold their premium status, regional areas offer opportunities for first-home buyers and investors alike.
Stay tuned for more insights on New Zealand’s shifting real estate landscape!
SOURCE: ONEROOF