Auckland suburbs look similar from above, but they have big price differences on the ground. Some buyers pay a lot more to live in popular areas.
Research from Corelogic shows that the average price of three-bedroom homes varies greatly between nearby suburbs. For example, Epsom’s average is $1.92 million, while nearby Greenlane is $1.52 million. St Heliers averages $1.7 million compared to Glen Innes at $1.12 million. Other comparisons include Mt Eden at $1.91 million and Mt Roskill at $1.07 million, and Ponsonby at $2.4 million against Grey Lynn at $2.04 million. In Wellington, Khandallah is $1.07 million while Ngaio is $965,000.
Factors affecting these prices include school zones, views, access to amenities, transport, and the quality of homes. A specific case is Apirana Ave in Auckland. House number two is in St Heliers, valued at $1.59 million, while number four in Glen Innes is listed at $1.37 million but is bigger in size.
Residents often prefer to say they live in a more prestigious suburb, even if their house is very close to the border. For example, some people in Miramar like to say they live in Strathmore for its better reputation.
Property coach Andrew Duncan says school zones are major reasons for price differences, especially for families. He also points out that housing styles matter. St Heliers has larger, stylish homes, while Glen Innes has smaller, older houses that are mostly being replaced with townhouses.
Duncan believes that people will pay more to be in a suburbs with higher property values, hoping to gain financially in the future. He notes that awareness of a suburb’s reputation influences its popularity. People moving from other areas often search for well-known suburbs first.
Gavin Lloyd from Trade Me says living in famous areas increases demand. The prestigious double grammar zone in Epsom is a big attraction for many buyers.
