OPENING LINES THE $3.61M PRICE GAP BETWEEN AUCKLAND SUBURBS Source:https://www.stuff.co.nz/, Brianna Mcllraith First Published Jan 29th, 2025 Millions of dollars are separating the highest and lowest-priced suburbs across the country’s main centres. The gap was the largest in the Auckland district, with a $3.61 million house price difference in 2024 between Herne Bay, which had an average asking price of $4.32m, and Auckland Central at $704,067. The district-level data from realestate.co.nz looked at the annual average asking prices of suburbs with 10 or more new listings in 2024 and showed the varied dynamics of the property market. “These price variations across our main centres reveal how individual neighbourhoods within the same district can command dramatically different price points,” spokesperson for realestate.co.nz Vanessa Williams said. “What’s also interesting is the lifestyle factors commanding premium prices differ from place to place, creating diverse opportunities across the motu.” Wellington’s most expensive suburb Seatoun had an average asking price of $1.77m, which created a a $1.14 million price gap separating it from the central city’s average asking price of $629,130. Christchurch’s Kennedys Bush properties averaged $1.98 million for its elevated views over the Canterbury Plains, while Fendalton was close behind with an average asking price of $1.77 million. In contrast, Wainoni had the lowest average at $490,787, representing a $1.49 million gap between the highest and lowest-priced areas. In Hamilton the sought-after northern suburb of Flagstaff was the highest-priced suburb at $1.09 million, while the southern suburb of Bader was the lowest at $561,783, creating a $531,197 gap. 7 BUSINESS VIEW OCEANIA VOLUME 07, ISSUE 01
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