Westbury Crescent in Remuera, one of Auckland's most expensive streets. Photo /Jason Oxenham
Westbury Crescent in Remuera, one of Auckland's most expensive streets. Photo /Jason Oxenham
It must be rather pleasant to live in a crescent in inner Auckland.
That's because houses located on crescents in the old Auckland City Council district typically cost more than those on avenues, drives, streets, places, roads or lanes.
There were 5717 homes on inner Auckland crescents - in suburbsranging from Remuera and St Heliers to Westmere - new data by analysts OneRoof-Valocity showed.
And in the past year 216 sold at a median sales price of $1.14 million.
Homes on avenues had the next highest sales price at $1.05m, then drives at $1m, roads at $986,000, lanes at $935,000, streets at $830,000 and places at $775,000.
52 Paritai Drive being offered for sale by Graham Wall Real Estate is among the prestigious Orakei homes boasting sought-after city views. Photo / Supplied
It means buying a home on a crescent could offer better long-term value. On the flip side, hunting down homes on places could unearth bargains.
Ollie Wall, who sells luxury homes at Graham Wall Real Estate, said Remuera's prestigious Burwood Cres was a good example of why crescents could offer extra value.
Not only did it have less traffic because it wasn't a through road, but it also curled around a clifftop allowing more homes to share in the waterfront views.
"We've sold four homes each worth more than $10m on Burwood Cres in the last three years," Wall said.
Modern developments such as Millwater have roads described as greens, rises, terraces, parkways and tracks. Photo / Doug Sherring
Remuera is a suburb filled with expensive crescents, including Arney and Westbury Crescents. But then again it also had prestigious and expensive Victoria Ave and Arney and Garden Rds.
And so it's here that we need to issue a cautionary word before we get too carried away.
Ray White Remuera salesman Steen Nielsen said while it was interesting crescents typically had the most expensive homes, buyers were usually more concerned with a home's location or whether it had views or a jacuzzi.
"When buyers are choosing their next home there are so many things they will prioritise over whether it is a street or avenue or crescent," he said.
And according to Wall, the city's most prestigious street wasn't even a crescent - it was Paritai Drive in Orakei.
Orakei's Paritai Drive is famous for its views, such as this from the infinity pool at 52 Paritai Drive now up for sale with Graham Wall. Photo / Supplied
Part of the mystique that built around such addresses was their history.
Wall was currently fielding a raft of enquiries from successful Kiwi expats returning home from Hong Kong and New York.
While there might be fancier homes in Westmere for instance, many of the returnees were fixated on buying on Paritai Drive because living there had been a goal since they were kids.
"They've said: 'now I've made a lot of money and I've got my own young kids that's where I want to buy'. It's the dream for them," Wall said.
Crescents also had the most expensive homes on the North Shore with a median sales price of $1.05m, compared to avenues with a typical price of $990,000, according to the OneRoof-Valocity data.
Millwater has roads described as terraces because they tend to be terraced up and offering views. Photo / Greg Bowker
Despite this, Bayleys Takapuna agent Victoria Bidwell said the most prestigious North Shore addresses were Clifton Rd and Brett, O'neills and Minehaha Avenues.
"If I have a house for sale in one of those three avenues I simply advertise it as 'The Avenues' and I get a wave of people ring me and make enquiries," she said.
Outside of inner Auckland and the North Shore, most real estate agents said it often made little difference whether a home was on a crescent, drive or road.
Cool street names seem to matter more judging by the likes of Mansion Ct, Seacrest Drive, Picasso Drive and Lagoon Way.
And modern developments such as Millwater have taken it even further with roads also described as Greens, Rises, Terraces, Parkways and Tracks.
But Mike Pero real estate owner Grayson Furniss said there was method to names.
Roads ending in courts tended to be cul-de-sacs popular with families, while parades were on the water's edge and terraces tended to be raised roads with views.
Because Millwater was still a new development that hadn't yet translated into higher prices for homes on courts, parades and terraces.
"But in another 10 years when we have more history that may change," Furniss said.
"I would expect that your parades and courts and possibly terraces will probably give more of a premium."
