Million-dollar do-ups are going, going, gone almost every week in the hot inner-city suburbs of Auckland.
Phil Ivey, a film production designer, bought 9 Sefton Ave in Grey Lynn last week for $1,011,468 and admits the million-dollar mark was a daunting figure to get his head around - even though he owned the property next door at No7.
"I'm selling up and moving next door, but it's a bit of a dog," he said. "It hasn't been loved at all. Actually, I was overseas and bid by phone and I did eventually sit down and think: 'I've just paid a million dollars for an absolute sh***er'."
New data from Quotable Value reveals 4600 streets in New Zealand have at least one property with a current value of more than $1 million. In October alone, more than 325 properties nationally sold for more than $1 million each.
Ivey, with wife Michelle Dowd and kids Ethan, 8, and 5-year-old twins Emerson and Ryder, plans to demolish the house and start again from scratch. They have lived at No7 for 10 years, completing renovations there just over eight years ago. Ivey didn't want to say what No7 may fetch, but it was listed this week.