Christchurch real estate’s top deals of 2024
Saturday, 14 December 2024
Eight Christchurch homes sold for $5 million or more during 2024, while the suburb with the biggest jump in values for the year was Aranui.
Property analyst CoreLogic has released its annual Best of the Best list, picking out highlights of the year’s real estate market.
It says the highest price in Christchurch was for a Whitewash Head Rd property on Scarborough Hill.
The beachfront home was sold in March by property investor and developer Philip Carter to commercial real estate boss Hamish Doig and wife Karen Doig. The couple are now selling their previous home a few doors along on the same street.
Second dearest was a streamside home in Wood Ln in Fendalton, also sold in March, which businessman Humphrey Rolleston and Debra Rolleston bought from building company founder Bill Horncastle and Mrrietta Horncastle, who built the house 15 years ago.
Rounding out the list of $5m-plus homes were two Park Tce apartments, and two more houses each in Fendalton and Scarborough.
The city’s dearest suburbs for the year were Scarbourgh with an average of $1.81m, followed by Kennedys Bush with $1.74m, and Fendalton with $1.67m.
Cheapest were Phillipstown ($453,000), Linwood ($495,000), and Aranui ($505,000).
The suburb with the biggest increase in values over the year was Aranui (8.2%), which also increased the most over five years with a jump of $68%.
Other big movers during the year were Kennedys Bush, Avondale, Wainoni, and Bromley, all with an increase of values of more than 5%.
Values sat flat during 2024 - recording an increase or decrease of about 1% or less - in Governors Bay, St Martins, Westmorland, Northcote, Charteris Bay, Beckenham, Yaldhurst, Mt Pleasant and Casebrook.
The biggest rent average increases were in Casebook (16%), North Brighton (13%) and Cashmere (12%), while Fendalton rents dropped by an average 3.8% and those in Upper Riccarton and Northwood were flat.
Nationally, the dearest place to buy a home was the Auckland harbourside suburb of Herne Bay with a median price of $3.35m, while the cheapest was the Whakatāne district town of Murapara at $191,000.
The dearest South Island spot was Arrowtown, near Queenstown, with a median $2.39m price, in fifth place nationally and the only one of the 10 dearest suburbs not in Auckland.
The cheapest South Island place to buy was Mataura in Southland at $262,800.
The dearest individual home sold in New Zealand was $20m for a home in Victoria Ave in Remuera, Auckland, once owned by yachtie Grant Dalton. It was one of 10 homes in the city that sold for $10m-plus during the year.
The biggest increases in median values across the country during 2024 were all in the South Island, lead by Blaketown in Greymouth (16.7%), then Kaikōura (12.8%), Cobden in Greymouth (12.8%), Fernhill in Queenstown (11.0%), and Otautau in Southland (10.5%).
Top Christchurch sales for 2024
1 Whitewash Head Rd, sold March 27 for $8.1 million
8 Wood Ln, sold March 21 for $8m
3/108 Park Tce, sold March 14 for $7.5m
36 Clifford Ave, sold April 23 for $7.3m
127 Scarborough Rd, sold April 20 for $5.5m
34 Park Tce, sold September 3 for $5.5m
99 Scarborough Rd, sold March 7 for $5.4m
33 Helmores Ln, sold April 13 for $5m
30 Wroxton Tce, sold February 24 for $4m
31 Waiwetu St, sold September 17 for $3.8m