If youÃ¢â¬â¢re looking for the most exclusive address in New Zealand, new research has found the answer. Data from PropertyIQ reported in the Herald Sun has uncovered which are the most expensive streets in New Zealand.
Residents of the countryÃ¢â¬â¢s most exclusive streets have included the Sultan of Brunei and Rod Stewart, as we find out next.
The most exclusive streets to own property in New Zealand
Herne Bay is the most exclusive area of New Zealand and Cremorne Street is the country's most expensive road. The median council valuation of properties on the street is $5.25 million (ÃÂ£2.67 million), putting it some distance ahead of neighbouring Stack Street where you would need to spend about $3.37 million (ÃÂ£1.72 million) to buy, based on the median capital value of all the properties on the street.
The Herald Sun reports that four homes on Stack Street were owned by the Sultan of Brunei in the 1990s. In addition, rock star Rod Stewart also once owned a property on the street with his then wife Rachel Hunter. Property developer Gary Lane - worth $220 million (ÃÂ£112 million) n last year's National Business Review Rich List Ã¢â¬â owns at least two properties on the street.
There were three Herne Bay streets in the top 10, with Bella Vista also featuring on the list. The suburb is already known as New Zealand's most expensive and has an average house value of $1.8 million (ÃÂ£916,000).
All but two streets were in Auckland. Streamside Estate in the Queenstown Lakes district had a median value of $2.8 million (ÃÂ£1.43 million) and Breadalbane Place at Langs Beach in the Whangarei District had a median value of $2.74 million (ÃÂ£1.4 million).
Local estate agent real estate agent Jan George has been selling in the area for 18 years and says that houses donÃ¢â¬â¢t come up for sale very often. "It's the whole northern slopes exclusivity really. The northern slopes of Herne Bay is such a small area. It's nothing like Remuera, where you've got a vast area and a whole variety of properties.Ã¢â¬Â