- A one-bedroom home in Remuera's double grammar zone is for sale at $695,000.
- The property on Hapua Street is part of a block of three 1960s-style terrace homes.
- Young buyers show interest, with agent Silvia Poletti highlighting its spaciousness and sunny location.
It's the cheapest house for sale in Remuera's prized double grammar zone - a nicely presented one-bedroom home with a $695,000 price tag in an Auckland neighbourhood known for its multi-million-dollar mansions.
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The property, which last changed hands 25 years ago, is in a block of three attached 1960s-style terrace homes at 45 Hapua Street.
Barfoot & Thompson listing agent Silvia Poletti tells OneRoof it's a "unique little house" - a roomy offering with a big bedroom, spacious lounge and a separate kitchen.
The one-bedroom house is spacious and nicely presented. Photo / Supplied
The property is one of three adjoining terrace houses on the sloping section. Photo / Supplied
The fact that such a house is on the market for less than a million on a road that sits between two of Auckland's most expensive streets for property - Arney Road and Seaview Road - is a surprise.
Poletti says the house sits on a gently elevated site that faces the sun and would have been considered very modern when it was built.
“As far as I understand, the three terrace homes in the block were always privately owned. The owner of 1/45 has lived there, never rented out, for 25 years.”
That longevity is a good sign, she says. “If people live 25 years in a property, it's usually because it's a very good property and they are happy there.”
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Poletti said she had sold smallish apartments and flats around Remuera for similar prices, but this one was better. “It stands out because it does not have that feeling of a unit or a flat.”
Young people were showing strong interest in the property, she says. “For a single buyer or a couple, this is the best buy ever. People should consider buying because the market won't stay like this forever.”
Leon Schrader, of Schrader Real Estate, is selling another entry-level property in Remuera, although this one is on Grand Drive and outside double grammar zone. The two-bedroom unit is close to Remuera Golf Club and is priced at $717,500.
A two-bedroom unit at 111C Grand Drive, in Remuera but outside double grammar zone, has a $717,500 price tag. Photo / Supplied
“I think it's hard to find something good under $700,000, or under $690,000," Schrader tells OneRoof. "For example, this one, which is bang on around $717,000, does need a little bit of work. You could put a good $20,000 or $30,000 into it, and it would make it really nice, but I'm finding a lot of first-time buyers don't necessarily want to buy something that needs a bit of work."
The location was great, he adds. “It’s awesome. You can walk straight through the back of the property and onto the reserve and the golf club, which is pretty cool.”
Schrader says there was strong interest in the property up until about February, after which the market cooled. “When [the Iran war] happened, interest dropped off.”
Seeking buyer enquiries over $850,000 is a two-bedroom unit at 2/30A Mainston Road, in Remuera. Photo / Supplied
A two-bedroom brick and tile home at 1/23 Lucerne Road, in the same suburb, is looking for enquiries over $1m. Photo / Supplied
He thinks the market will be flat for the rest of the year, but that is good for buyers. “It's a good opportunity to get into the market because after this year, 2027, 2028, I kind of see between a 4% and a 6% [price] rise per year. I've spoken to a lot of other investors and people out there, and they are gearing up for that sort of scenario.”
Ray White Epsom agents Richard Thode and Mark Roberts have two entry-level units on the market in Remuera. One is a two-bedroom, two-bathroom property on Lucerne Road, which is looking for enquiries over $1m, and the other is a two-bedroom unit on Mainston Road, which is seeking enquiries over $850,000. Both are outside double grammar zone.
Thode says those sorts of prices are pretty hard to come by in Remuera because there are few units in the suburb. “Most of the properties are high-end family homes.”
A family recently paid $630,000 for a unit on Selwyn Road to get into double grammar zone. Photo / Supplied
Thode thought the lure of the school zoning mattered more in Epsom, where there were many more units, than it did in Remuera. “We've just sold one today on Selwyn Avenue. It's in double grammar zone.”
The buyers paid $630,000 for the unit because their son was close to high school age and they wanted him to attend Auckland Grammar.
Most of the people who had been through the Lucerne and Mainston road properties were first-home buyers, Thode says. “They want to get into arguably a good suburb, they want to have potentially good capital growth over time and location to bus routes and motorways.”
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