Prices for almost identical homes in the master-planned Auckland suburb of Stonefields are on the rise again, with agents reporting there are more buyers than stock.
Standalone homes in the former quarry have been hovering around the $2.2 million mark in the last few months and even terrace houses are making a resurgence, with a four-bedroom end-terrace house on Kauriki Terrace selling for an impressive $2.1m at auction last week.
Barfoot & Thompson agent and former TVNZ Breakfast host Rawdon Christie said a lot of the people showing an interest in Stonefields were from Remuera, although the suburb was also attracting downsizers and first-home buyers at the upper end of the price scale. “You know you are getting a very well-built, very easy to sell, safe, well-located home,” he said.
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Christie said Stonefields was one of the few suburbs he sold in where properties were close to their CV in value, and because houses in Stonefields are all similar people had a fair idea of what they were worth.
Christie and co-listing agent Steve Hood recently sold two stand-alone homes in the suburb, and both had between three to four people competing for them at auction.
The first home, a four-bedroom, four-bathroom property on Garin Way, was snapped up for $2.2m and the second, a four-bedroom, three-bathroom property nearby, sold for $2.11m. “The conversation I had with the three people who missed out on Garin Way was find us the next one,” he said.
There were four people competing for a property on Garin Way that sold under the hammer for $2.11m earlier this month. Photo / Supplied
Stonefields house values have risen fast since the suburb was launched more than a decade ago. Photo / Fiona Goodall
Christie is expecting to list another similar property early next year and he believes it will get an even higher price due to how many house hunters there are. “The reason why I reckon that next year will see it uptick even more is because I know the buyers who are looking for the properties.”
The number of properties (excluding new builds) listed for sale on OneRoof has risen to 12 from just five in June, but it is still not enough to meet buyer demand. The only stand-alone property currently for sale is a five-bedroom, three-bathroom house at 24 Ngahue Drive listed with Ray White with an asking price of $1.825m.
Fellow Barfoot & Thompson agent Mary Du has claimed the highest sale in the suburb so far this year – $2.275m at the end of October for a property on Stonemason Avenue, although the sale has yet to settle. A house on Papango Street holds the overall record for the suburb after selling for a record-breaking $2.9m in May 2022.
Ray White salesperson Matt Gibson, who also sells in the suburb, said there was still not a huge amount of properties available and people had either already put their properties on the market or were now waiting until next year. He has already signed up listings for a stand-alone home and a terraced home due to go live at the end of January.
“Certainly everything selling in there is getting snapped up a lot quicker than when the market was a bit dire. People are going in there realising it is a safe suburb and it’s an awesome location and so central to everywhere really.”
A large terrace house on Galway Bay Terrace sold in September for $1.775m. Photo / Supplied
Ex-TVNZ Breakfast host Rawdon Christie: “The reason why I reckon that next year will see it uptick even more is because I know the buyers who are looking for the properties." Photo / Fiona Goodall
Gibson said house prices in Stonefields had picked up in the last two months. “As a suburb I think Stonefields has bounced back really well. Personally, I think the bottom of the market was May and prices have noticeably started increasing from there and have steadily done so.”
Stand-alone homes with a downstairs bedroom and a bathroom were particularly in demand, along with those that were north or west-facing, offered privacy, were double-glazed, had good landscaping and were on one of the quieter streets.
Although many people think all Stonefields homes look the same, Gibson said this was not the case once you got inside.
“People have stamped their own mark on them now and renovated and done landscaping and stuff. It’s still cool to see what people have done in there. With Stonefields being newish you don’t have to worry about weather tightness, the building inspections come up positive because it’s brick and new weatherboard and good cladding and things like that – it’s a safe option in that regard too.”
- Click here to find more properties for sale in Stonefields
