Helping push up Cremorne St\u2019s average values are its famous clifftop mansions, including developer Simon Herbert and wife Paula\u2019s helipad-equipped home bought for $30m in 2018. <\/p>\n
The Rise in St Heliers, near Auckland\u2019s eastern waterfront, is the second most expensive street with homes valued at an average $8.6m.<\/p>\n
Remuera\u2019s Westbury Crescent ranks third with its 13 homes recording an average $7.8m CV.<\/p>\n
Despite the homes costing what would seem an astronomical amount for most Aucklanders, values along these exclusive streets have fallen since the last CVs were released in 2021.<\/p>\n
Cremorne St\u2019s average home value has dropped $1.3m compared to the last CVs, while The Rise\u2019s homes are down $712,000 and Westbury Cr homes dipped $67,000.<\/p>\n
Auckland Council\u2019s chief finance officer Ross Tucker said the average home value across the city had dropped 9% since the 2021 CVs.<\/p>\n
That\u2019s because \u201cthe economy and property market generally\u201d had \u201ctrended down\u201d over that time, he said.<\/p>\n
While Cremorne St is widely considered the street with the highest average home price, there is technically a street with higher prices that is located very close by.<\/p>\n
Herne Bay\u2019s Wairangi St is just 100m from Cremorne St and has three homes on it with an average CV of $12.1m. <\/p>\n
It is often not included in lists of the most expensive streets, however, as it has so few homes.<\/p>\n
Among suburbs, Herne Bay is also the most valuable, with its homes recording an average $3.47m CV – down $346,000 compared to 2021.<\/p>\n
Northern retirement and holiday hotspot \u014cmaha is Auckland\u2019s second most expensive suburb at $3.05m, while Saint Marys Bay in the inner west ranks next at $2.91m.<\/p>\n
That\u2019s followed by Okura Bush, near Silverdale, on $2.76m and then Remuera on $2.75m.<\/p>\n
St Heliers has some of the most exclusive streets in the city, such as The Rise where its mansions have an average CV of $7.94m. Photo \/ Supplied<\/p>\n
As revealed in June, the city\u2019s most expensive home is now worth $72.5m.<\/p>\n
The mega mansion, owned by exporter Deyi \u201cStone\u201d Shi on Huriaro Place in \u014cr\u0101kei, jumped $14.5m from its 2021 valuation of $58m – bucking the city-wide trend of lower prices.<\/p>\n
Billionaire Graeme Hart\u2019s Riddell Rd home in Glendowie was the second most valuable home at $48m, although its CV had dropped from the $52m value of 2021.<\/p>\n
Overall, Auckland\u2019s 10 most expensive homes are now worth just over $429m combined, according to the new valuation figures.<\/p>\n
The CVs are supposed to happen every three years and involve a revaluation<\/a> of all 630,000 properties across the city.<\/p>\n Luxury real estate agent Graham Wall from Wall Real Estate told property website OneRoof<\/a> CVs didn\u2019t matter much for home buyers.<\/p>\n He pointed to the \u014cr\u0101kei home owned by Shi and valued by council at $72m, saying it was impossible to buy the mansion for less than $80m today.<\/p>\n Wall said council valuations that were largely done with automated software often didn\u2019t take account of nuances such as the view or interior design.<\/p>\nRemuera’s Westbury Cr is among the city’s most expensive streets. Photo \/ Michael Craig<\/p>\n