KEY POINTS:
It might be studded with multi-million-dollar mansions, but Paritai Drive in Orakei - long regarded as Auckland's, if not New Zealand's, most prestigious address - may have "lost its gloss" and faces stiff competition as best street.
Top estate agents say those with the dosh seeking a more
"relaxed" lifestyle are picking the North Shore over the Eastern Suburbs and Remuera.
Stephen Hart, publisher of Where To Live in Auckland, said there was a question mark over Paritai Drive's continuing desirability, despite the eight-digit prices some properties there could command. (Rich Lister businessman Mark Hotchin is building a $30 million mega-mansion believed to cover more than 3000sq m on Paritai; the land alone cost him $17m.)
"Paritai Drive appeals to a certain type of person," said Hart. "The phrase 'conspicuous consumption' springs to mind. These days when we're becoming less openly flamboyant, there's a group of wealthy New Zealanders and Aucklanders who no longer want to be associated quite so obviously with the baubles of success that Paritai Drive means.
"It certainly has got some of the most expensive real estate in the country," he said, "[but] I just wonder whether it also reeks of flashy Auckland."
Hart believed today's wealthy individuals were preferring more discreet, private addresses, hence his Top 5 list:
(1) St Stephens Ave in Parnell (which is home to National Party leader John Key);
(2) "Hidden" Victoria Ave in Remuera properties not visible from the street;
(3) Arney Rd and Arney Cres in Remuera, home to "real" money;
(4) Cliff Rd in St Heliers, with views across the sea to the city; and
(5) Minnehaha Ave in Takapuna - "the best address on the Shore but with the worst name".
Paritai Drive may be the first to be named by city-side realtors as the most expensive followed by Victoria Ave and a toss-up between Arney Rd and Remuera Rd, all in silver-spoon Remuera but parochial North Shore agents don't agree.
Tom Kane, manager of Premium Takapuna, said when it came to value, multiple sales over $10m make Takapuna's Clifton Rd, Gibbons Rd, Brett Ave, O'Neills Ave and Minnehaha Ave the top 5 in New Zealand.
While Trevor McLeish, manager of the Takapuna branch of Barfoot & Thompson, is among those agents who select Auckland's traditional top three, he also goes in to bat for Jubilee Ave in Devonport and Minnehaha Ave for selection as No 4 and 5. "Jubilee is the most expensive street in Devonport and would have to be the premier street on the [North] Shore price wise," he said. "On the seaward side you can expect prices ranging from $8m." Given the area's strict heritage protection scheme, many properties here are still traditional, period villas - "it adds to the charm of the suburb" says McLeish.
While Seacliffe Ave in Takapuna has been talked about as a potential contender to the Top 5, there is some debate over its charms. One agent said although Seacliffe had many multi-million-dollar mansions on its seaward side there was a lot of "bottom-end stuff" which "brought down" the tone. "It's not the easiest one to sell," he said, claiming the sandstone cliff many of the homes are perched on also fuelled fears of coastal erosion.
Top-end agent Graham Wall said he didn't rate the North Shore highly and picked in descending order his Top 5:
Hanene St in St Heliers,
Crescent Rd in Parnell,
Marine Pde in Herne Bay,
Arthur St and Wood St, both in Freemans Bay.
All had elevated properties on quiet streets within vibrant cafe communities, he said. Most homes ranged from $5-10m. There seems no let-up in demand for properties in these locations.
In March Barfoot & Thompson sold more than 100 million-dollar properties, the most during a single month in its 84- year history.
Top Five Streets Around The Regions
Wellington
1. Oriental Parade: "Million-dollar purchases are commonplace and $1m is really the bottom of the range there now," said Tommy's Real Estate spokesman Bill Platt.
2. McFarlane St, Mt Victoria: Prices: $500,000 to $2m.
3. Homewood Cres, Karori: A number of stately homes with well-established grounds.
4. Marine Parade, Seatoun: Sea views. Prices: $500,000 to $1.9m.
5. Woodmancote Dr, Khandallah: Large executive homes in private, tree-clad locations. Last recorded sale $1.15m.
Hamilton
1. River Rd: Runs through the town centre along the Waikato River. Large, landscaped sections with elevated outlooks. Prices: $500,000 to more than $2m.
2. Ann St: Greenbelt street near the river. Prices: $800,000 to more than $1.5m.
3. Awatere Ave: Subdivision has reduced section size. Prices: $500,000 to $1.5m.
4 Arran Rd: Expect to pay about $500,000. One property sold for $1.68m.
5 Lake Crescent: Older and new homes, and subdivided. Prices: $600,000 to more than $1.5m.
Whangarei
1. Three Mile Bush Rd: Rural views, stone walls with new and older housing. Prices: $680,000 to $1.2m.
2. Austin Rd, Maunu: Five minutes from town. Prices: $850,000 to $1.1m.
3. Whangarei Heads Rd: Prices: $750,000 to $1.1m.
4. Glenbervie Rd: Towards East Coast beaches. Prices: $850,000 to $1.4m.
5. Riverside Drive: Five-minute walk from town, an elevated drive above the town. Prices: $450,000 to $850,000.
Source: Local real estate agencies
