The Auckland mansion that shattered auction records almost three years ago has changed hands again, reselling for $12.02 million and setting Remuera's highest settled sale price of the year.
While it ranks as the suburb's biggest settled deal so far in 2026, OneRoof understands several higher-priced transactions have been signed but are yet to settle.
Barfoot & Thompson agent Aden Xu, who brought the grand Arts and Crafts home on Orakei Road to market in February, confirmed the sale to OneRoof. Confidentiality agreements prevented him from discussing the identities of the buyers or sellers in the deal, which went unconditional in August.
The double grammar zone property had sold under the hammer in February 2024 for $12.8m, setting a New Zealand residential auction record. Title records also show a transfer in 2025 for $12.6m, with a different owner listed.
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The six-bedroom home sits on a 1791sqm site and has an RV of $11.8m. Rich in heritage character, it features timber panelling, leadlight windows, a resort-style swimming pool and tennis court, four-car garaging, and sweeping views to the Sky Tower.
The Arts and Crafts home on Orakei Road has benefited from recent renovations and features timber panelling and leadlight windows. Photo / Supplied
The 1791sqm double grammar zone property boasts a tennis court and a swimming pool. Photo / Supplied
Building consent records show the owners later extended the garage and added an extra bedroom, bathroom and living areas.
When the property sold in 2024, the agents told OneRoof the buyers had viewed the home only the day before the auction, having recently arrived in New Zealand.
The prestige end of the market has remained resilient in Remuera. OneRoof identified 24 settled sales above $5m this year, including three in the $10m and above bracket.
Bayleys agent Gary Wallace, whose $10.5m sale of a Victoria Avenue property in March ranks as the suburb's second-highest settled deal this year, said activity at the top end had been highly property-specific.
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He's about to close a deal on an $8m Orakei Road property before it even reaches the market. The buyer, a local, had already inspected numerous homes and immediately recognised the property's value.
"When you get a good buyer like that, you've got to hang on to them. They are very precise," he said.
Despite uncertainty created by the delayed election outcome, Wallace said he was seeing more overseas Active Investor Plus visa applicants who were now ready to enter the housing market.
He also noted that the second half of this year had been tougher. "It's probably been quite a challenging year overall, without question. I think for everyone, it's a bit like the duck going across the pond. They're gliding across, but underneath they're paddling like hell."
Wallace said most buyers in the market were cashed up and ready to transact, although some were negotiating longer settlements while counting on the sale of their existing home.
Bayleys agent Gary Wallace sold a four-bedroom, 548sqm home on Victoria Avenue to golden visa holders. Photo / Supplied
"There's a lot of trust in that because they're having a very honest conversation with their agent, saying, 'Look, we're prepared to do this on the basis that we get a really good appraisal for our property. We want you to be honest,'" he told OneRoof.
"If you're looking to sell, you need to be comfortable with your agent and the feedback and advice you're getting."
Ray White Remuera owner Megan Jaffe told OneRoof that both local and offshore buyers remained active in the prestige sector. "But because there is a lot of choice, there's been a lot of looking, and there hasn't necessarily been a lot of buying," she said.
"The people who have the capacity to buy, they're just very specific with their wish-list. What we saw was that the people who didn't have to, did nothing."
However, she had noticed people out and about at open homes over the election weekend, ready to take action at auctions this week.
Ray White Remuera owner Megan Jaffe said she had noticed people out and about at open homes over the election weekend. Photo / Supplied
Ray White Remuera agent Ross Tierney said a handful of prestige properties were being marketed quietly in the suburb, with asking prices ranging from $5m to $20m.
"It's been an election year, and there's been all that indecision," he said, noting that homeowners in his patch had been more focused on the election result than in previous cycles.
"Homeowners were putting everything on pause until they had a clearer picture. They're all business owners, and they're concerned about what that might look like for their business."
Overseas buyers had no such concerns, Tierney said. Enquiries from the United States, Australia, Taiwan and Singapore for homes priced above $10m had outstripped those from local buyers.
Some were pursuing the Active Investor Plus visa pathway, while others were taking advantage of the weak New Zealand dollar. "You can buy [a house] at half price, can't you?"
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