Trendy inner-city Grey Lynn has tumbled out of a list of the 10 Auckland suburbs with the highest total value in yearly house sales.

Grey Lynn and its heritage wooden villas recorded $383 million worth of house sales in 2017 - the sixth highest total sales of any city suburb.

Yet new Real Estate Institute of NZ figures show the suburb last year fell out of favour with buyers and sellers as it tumbled from the list of the top 10 suburbs.

Remuera is Auckland's most valuable suburb with $908m in total sales, while Grey Lynn has dropped out of the top 10 suburbs with the highest total sales. Photo / Richard Robinson
Remuera is Auckland's most valuable suburb with $908m in total sales, while Grey Lynn has dropped out of the top 10 suburbs with the highest total sales. Photo / Richard Robinson

Replacing it at number six was West Auckland's Henderson, where 508 homes and apartments sold for a total of $392m in 2018 and a median sale price of $745,000.


This was up on the $365m of house sales in Henderson a year earlier in 2017 when the suburb's median sale price was $730,000.

"With 209 sales throughout the 2018 year and a median price that fell 7.7 per cent from $1.3m to $1.2m, Grey Lynn fell out of the top 10," REINZ chief executive Bindi Norwell said.

This left "space for Henderson to make its way further up the rankings" with 32 more sales in 2018 than 2017 and a $15,000 increase in median price.

"With plenty of parks, great views of the Waitakere Ranges, access to some of the amazing West Coast beaches and an off-peak drive of 21 minutes into the city, it's easy to see why Henderson has made its way up the list," Norwell said.

There was no change among the top five suburbs, however, as Remuera, continued to be the country's most valuable area with 412 properties selling for a combined $908m in 2018.

This was down on the suburb's $1 billion in total sales in 2017.

Auckland Central where more than 1200 properties sold in each of the last two years was the second most valuable area, followed by Flat Bush, Mt Eden and Epsom.

"With median prices hovering around the $1.8m mark and a reasonably solid number of sales, it's not surprising that Remuera has remained Auckland's highest sale volume suburb for the last three years running," Norwell said.


"The same is true for Auckland Central. The more than 1200 sales is what has allowed the CBD to keep its second place in the list for three years running despite a median price in the mid-to low $400,000s."

Norwell said that while people might expect to see flashy Takapuna, Herne Bay or Saint Mary's Bay in the top 10, the suburbs didn't make it because they typically only had a low number of sales each year.

The Herald's OneRoof property site earlier used separate data by analysts Valocity to report how Remuera was no longer New Zealand's only billion dollar suburb.

But while total sales dropped in the prestigious suburb, it remains streets ahead of any other region in the country, partly because of the high value of its individual homes and partly because of how many homes are in the suburb.

Six of the houses with the 10 highest sales prices last year were also located in Remuera, including a mansion on the main road that went for $25.5m.

Remuera total sales values are also not far off Australia's top suburb of Mosman in Sydney.

About 600 homes and apartments sold in Mosman last year for just over A$1.4b. The total was helped by 20 homes selling for over A$10m each, including one for a suburb record of A$25m.

Aussie agents argue the suburb gives better bang for buck than the next highest suburb of Vaucluse where total sales hit A$590m last year.