NZ's dearest and cheapest homes revealed

66 Kana St in Mataura sold for $7500, making it the country's cheapest real estate buy. Photo / Supplied

The cheapest house in New Zealand:
66 Kana St, Mataura

Quotable Value records show the weatherboard handyman's dream in the Southland town of Mataura (population 1740) was sold to an Auckland-based buyer in February for $7500, the lowest price in the country for the year ending June 30.

The pre-1914 Kana St home has a property value of $20,000 and annual rates of $1051.

The most expensive house in New Zealand:
No 2 The Rise, St Heliers

A home that may be the most expensive city property sold in New Zealand goes on the market today.

The modern, high-tech home of construction boss Ted Manson and wife Maria is expected to fetch more than the record that Quotable Value says was set two years ago - $12.1 million for a property in Garden Rd, Remuera.

Mr Manson was coy when asked to name his price, but provided an indicative graph that covered a band from $10 million to $18 million, with emphasis through the middle of the range.

Mr Manson heads construction firm Mansons TCLM, builder of luxury homes and high-profile commercial developments such as the Lumley Centre in Shortland St and the GE Money and BNZ offices in Quay Park.

The company is now building the new Telecom headquarters in Victoria St West.

In an exclusive tour of their residence for Heraldhomes, profiled in today's pull-out section, Mr and Mrs Manson pointed out the collection of unique features of their home at No 2 The Rise, St Heliers.

The 839sq m house spills over four levels, stepping down a 3677sq m site on the hill above St Heliers, with 180-degree views down the harbour.

Among its many rooms is a home theatre with ceiling lights laid in the position of the southern sky constellations. Glass walls enclose a courtyard studded with volcanic rocks - between them optic lighting and steam vents create an ethereal "mist garden" at night.

Mr Manson, who this year was No 32 on the NBR Rich List with a value of $230 million, bought the property in 1998 for $5.35 million.

It was built in the 1980s by Sky TV founder Craig Heatley. Subsequent owners included German fraudster Ralf Simon and Chris Alpe, founder of Maui Campervans and former head of Tourism Holdings.

Mr Manson then spent three years taking No 2 The Rise apart and rebuilding it in his firm's signature material, concrete.

Renowned architect Pete Bossley, who designed the original house, was brought back for its extension and renovation.

It now includes a gym, sauna, steam room, games room with bar, self-contained guest apartment, outdoor cooking and dining area, pool, spa, championship-sized tennis court and garaging for six cars.

After eight years in the completed home, the Mansons say they feel like a new residential project and have bought a former home of the Caughey family in Hanene St, Kohimarama.