A near-new five-bedroom home in Auckland’s prized double grammar zone sold for $11 million at the end of last month, OneRoof can reveal.
The property on Victoria Avenue, in Remuera, hit the market at the start of the year and was snapped up by an expat family returning to New Zealand from a stint in Asia.
The sale, brokered by Boulgaris Realty owner Michael Boulgaris and colleague Karen Moore, delivered the vendors a healthy profit.
The property last changed hands in 2019 for $8.66m.
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Boulgaris said that when the 543sqm house had sold in 2019, soon after it was finished, he always thought it could fetch more.
“I had confidence. I knew it was worth much more and actually. It was an easier sale at $11m, a no-brainer."
He added: “The buyers were expat Kiwis coming home from Asia, with young kids going to local schools, so we had to do a lot of facetime. The vendors are so happy. They’ve left the trampoline for the new kids.”
Boulgaris, who sold a $19.75m property on the street late last year and has listings in both Remuera and Epsom looking for seven-figure sums, said that Remuera was always the most popular for the higher end buyers, but less traffic around the city post-Covid is helping shift interest into Epsom.
Auckland’s top end market continues to flourish with recent sales of over $10m and new listings asking upwards of $16m.
There are also rumours that a property on Remuera Road sold at the end of last year for $29m, although the agents said to be at the centre of that deal, Graham and Ollie Wall, have refused to comment.
A restored Victorian mansion on Victoria Avenue sold for $19.75m. Photo / Supplied
Graham Wall still hold the record for New Zealand’s most expensive deal – unbroken since 2013 – of $39m for the mansion off Paratai Drive of ex-Hanover Finance director Mark Hotchin that sold to businessman Deyi “Stone” Shi.
Last year the Walls negotiated a multi-house shuffle worth over $65m of blue-chip Herne Bay property. Rich-lister property developer Kurt Gibbons and his wife Makere bought a large waterfront home on Marine Parade for $23.5m after selling their home on nearby Argyle Street for around $20m in just two weeks. Two other properties on nearby Hamilton Road and Jervois Road were part of the chain of moves.
A Marine Parade, Herne Bay, house sold for $23.5m last year, part of an over $60m shuffle of four property owners. Photo / Supplied
Ray White Remuera agent Harry Champtaloup said he is currently showing off-market properties in prime streets of the double-grammar-zone suburb that will go for between $6m and $14m.
“Most of these are new builds or fully updated. The owners are all looking for a change of lifestyle, getting out of Auckland and just having a lock-up-and-leave here.”
