realestate.co.nz showcases dramatic urban property price variations in NZ
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Recent data from realestate.co.nz has unveiled significant price disparities within New Zealand’s major urban centers, with Auckland City experiencing the most substantial gap.
In 2024, Herne Bay boasted an average asking price of $4.32 million, starkly contrasting with Auckland Central’s more modest $704,067, marking a $3.61 million difference.
Varied market dynamics across districts
The data, focusing on suburbs with at least 10 new listings last year, underscored the diverse dynamics within the property market.
“These price variations across our main centers reveal how individual neighborhoods within the same district can command dramatically different price points,” said Vanessa Williams (pictured above), spokesperson for realestate.co.nz.
Williams also noted the distinct lifestyle factors influencing property values differently across regions.
Capital city price contrasts
In Wellington, the disparity was also pronounced, with a $1.14 million difference between the central city and the coastal suburb of Seatoun.
Wellington’s central district offered relatively affordable living options, particularly through its apartment listings, contrasting sharply with the upscale prices in Seatoun at $1.77 million.
“Wellington’s central city offers a markedly different price point to its premium suburbs,” Williams said, highlighting the opportunities for diverse buyer preferences.
Premium views in Christchurch
Christchurch’s property market also showed notable variances.
The Port Hills area, particularly Kennedys Bush, demanded high prices, averaging $1.98 million, largely due to its commanding views over the Canterbury Plains. Fendalton followed closely at $1.77 million.
Conversely, the eastern suburb of Wainoni had the city’s lowest average at $490,787.
“‘View’ is one of the most searched terms on realestate.co.nz, and Kennedys Bush has this in spades,” Williams said.
Hamilton’s north-south divide
Hamilton revealed a narrower price range, with a $531,197 gap between its most and least expensive suburbs. Flagstaff led with an average price of $1.09 million, while Bader was the most affordable at $561,783.
“As part of the Golden Triangle, Hamilton’s northern suburbs are popular with those drawn to the lifestyle benefits of a regional city while maintaining easy access to Auckland,” Williams said, underscoring the appeal of Hamilton’s geographic and lifestyle advantages.