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Interest in North Shore waterfront properties

October 10, 2005

Huge interest in North Shore waterfront properties – Kellands report

Auckland’s Takapuna and Milford waterfront properties are attracting huge interest which is impacting on nearby suburbs, the Kellands Real Estate quarterly forecast report said today.

Substantial demand from buyers for waterfront property is lifting prices dramatically in places like Belmont and in the Bays, said the report just released today.

``Our clients also benefited from unprecedented growth on Lake Pupuke in our Hurstmere luxury apartment development receiving between 30-60 percent growth in just two years.

``We have analysed the sales history of 144 of Takapuna and Milford’s most expensive homes and these owners have had an average of 10 percent compounded long term growth and fantastic tax free gains.

``With only 150 truly beachfront properties it is not surprising that supply and demand rules.

``The coastal market is still very buoyant, especially for properties that enjoy direct water access.’’

Prime Waiheke Island waterfront property is harder to find and prices are holding well.

As an asset with excellent capital gains still to be made, coastal property remains an attractive investment vehicle offering unparalleled lifestyle enjoyment.

Meanwhile, Kellands said in their report they have staggering success with auctions. They have had 96.5 percent success with auctions in the last six months and their auction properties have been on the market for an average of 29 days.

Kellands also produced sales statistics showing the highest reported sales in each of Auckland’s top suburbs over the past four years highlighting that they have sold 25 percent of these properties.
Chief executive Deborah Kelland said they had the advantage of not being too narrow in their view of the value of their clients’ properties as they were not residing in the neighbourhood.

``Based in Parnell, we take an “outside the square” approach to selling our client’s properties contrary to traditional real estate models. By focusing on the properties unique attributes we do not rely on historical sales evidence to establish value.

``Targetted marketing to our high net worth clients is paying dividends for our vendors.”

Sales:
HERNE BAY
Sentinel Rd $7,100,000
Argyle Rd $6,000,000
Marine Pd $5,250,000

ST MARYS BAY
New St $4,200,000
Cameron St $4,000,000
London St $3,750,000

FREEMANS BAY
Hepburn St $3,515,000
Arthur St $2,700,000
Wood St $2,200,000

WESTMERE
Kotare St $2,400,000
Rawene Ave $2,300,000
Rawene Ave $2,200,000

GREY LYNN
Richmond Rd $2,770,000
Beaconsfield $1,295,000
Beaconsfield $1,270,000

VIADUCT APARTMENTS
Princes Wharf $3,150,000
The Point $2,925,000
The Point $2,900,000

REMUERA
Remuera Rd $9,500,000
Remuera Rd $8,420,000
Remuera Rd $6,100,000

PARNELL
Crescent Rd $7,350,000
St Stephens Ave $6,500,000
St Stephens Ave $4,330,000

PARNELL APARTMENTS
Awatea Rd $3,785,000
St Stephens Ave $3,600,000
Crescent Rd $3,050,000

EASTERN BAYS
Bay Rd $6,000,000
Devore St $5,750,000
Kohimarama Rd $4,900,000

ORAKEI
Paratai Dr $6,280,000
Paratai Dr $6,000,000
Huriaro Pl $5,300,000

EPSOM
Mountain Rd $3,500,000
Manukau Rd $3,262,500
Omana Ave $2,850,000

TAKAPUM MILFORD LAND
235 Hurstmere Rd $3,200,000
1/29 Cecil Rd $2,050,000
257 Hurstmere Rd $1,575,000

TAKAPUNA
Gibbons Rd $12,780,000
Williams St $7,750,000
Hurstmere Rd $6,395,000

MILFORD
Saltburn Rd $6,000,000
Audrey Rd $5,100,000
Muritai Rd $4,400,000

MILFORD APARTMENTS
Milford Rd $4,000,000
Craig Rd $2,500,000
Craig Rd $2,050,000

ENDS

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