The biggest residential real estate sales last month was the $8 million paid for a 1960s clifftop home in Auckland's Remuera.
The house at 147A Arney Road, marketed by Barfoot and Thompson agents Alex Baker and Stephen Rendell, sold well above its $5.6 million council valuation and had 18 bidders vying to secure it at auction.
The top five sales for May were all in Auckland, with Arney Road's record price followed by $7.29 million for another house in Remuera, $6 million for a property on the North Shore and $4.9 million for a house in Kohimarama.
But sales figures supplied to OneRoof by the Real Estate Institute of New Zealand show prices actually fell at the top end of the market in Auckland during alert level two and three but rose in Canterbury, Hawke’s Bay, Taranaki and Waikato.
Start your property search
REINZ chief executive Bindi Norwell says: “In the Hawke’s Bay the top price achieved was more than $1 million dollars higher than the month before and in Waikato it was more than $2 million above April's top price.
“These figures reflect that the underlying value in these regions to be holding up well, despite the impact of Covid-19.”
Christchurch CBD. The top end of the city's real estate market lifted in May. Photo / Supplied
Despite forecasts of price drops as a result of Covid-19, Queenstown claimed three top sales last month, with three properties in the region fetching $3.618 million, $3.28 million and $2.913 million.
Frankton in Hamilton recorded a $3.2 million sale and in Kerikeri, Northland, a vendor secured $3.05 million for their property.
In other north island areas, Bethlehem in the Bay of Plenty saw $1.9 million and $1.8 million sales, while a house in neighbouring Mount Maunganui sold for $1.7 million.
In Gisborne District the top three sale prices for May were $1.6 million, $1.515 million and $900,000, while in Hawke’s Bay the top three sale prices were $3 million, $1.83 million and $1.4 million.
Napier in Hawke's Bay. The region recorded big sales in May, with top sale price coming in at $3 million. Photo / Supplied
Over in the Manawatu-Whanganui region, a home in Palmerston North sold for $1.485 million, while two homes in Hokowhitu sold for $1.35 million and $1.12 million.
In Taranaki, homes in New Plymouth District sold for $1.55 million, $1.410 million and $1.09 million and the Thames-Coromandel District saw a strong sale of $2.25 million property in Whitianga.
In the capital, the top sale price was $1.88 million, followed by two more at $1.75 million.
Christchurch's biggest sale price was $2.4 million for a home in Strowan, followed by two sales of $2.175 million and $1.66 million.
In Marlborough District, the top three homes sold for $830,000, $804,000 and $775,000, and in Nelson the top three were $1.9 million, $1.43 million and $1.25 million.
In Southland, the top price was $870,000 followed by $821,000 and $645,000 in Invercargill, and
Tasman District saw strong sales with a property in Motueka fetching $1.4m, followed by sales in Richmond of $1.112m and $1.06m.
On the West Coast, Westland District took the top sale with $790,000, followed by two Greymouth properties for $335,000 and $330,000.
Norwell says the figures show Covid-19 hasn’t stopped the sale of high-end properties with plenty of activity occurring at the top end of the market.
“Some of this activity is being underpinned by ex-pats returning home to New Zealand looking for a ‘safe haven’ for their family amidst the uncertainty globally. But it’s also being supported by local buyers who have good job security and confidence in the market.
“Looking around the regions, there have been some quite mixed results in terms of the top price achieved when compared to April.”
