Streets ahead in Herne Bay

Jack Nazer has no intention of moving. Photo / Doug Sherring

Jack Nazer and his wife bought their property in 1994 before the first large price spikes in the area.

It comes as no surprise to him now that his street, Cremorne St in Herne Bay, has the highest median house value in New Zealand.

"It is close to just about everywhere. There is no real traffic build up and you can go most places with the least of hassles with the motorway on-ramp just down the road. It's quiet and there is a beach at the end of the driveway."

Late last year, Line7 apparel company founder Ross Munro sold his large property on the water's edge for nearly $13 million.

A few months earlier, veterinarian Paul Chisholm sold his family's home for around $2m - and that was just a two-bedroom cottage.

Nazer says Cremorne St is a perfect location - one of the reasons he has lived in the area since 1987. The couple are in their 70s but there is no prospect of them leaving.

Nazer bought the house with a small cottage on it which was shifted off. Building the new home bought the total cost up to around $800,000. He said the property is worth more then the last council valuation of around $2.5m.