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Sell with us- Author: Mark Harris, Co-Founder and Managing Director
- 13th Dec 2024
New Zealand’s Record-Setting Real Estate Sales of 2024
New Zealand Sotheby’s International Realty (NZSIR) has once again demonstrated its position as the nation’s premier luxury real estate agency, achieving the top four highest residential property sales in 2024.
At the pinnacle of these achievements is the sale of a Paritai Drive mega-mansion, which set a new record for the year at $21.8 million. Other notable transactions include Grant Dalton’s former Remuera home for $20 million, and a multi-million dollar property on Waiheke Island.
Managing Director Mark Harris credits the company’s success to its dedicated teams and their ability to navigate a fluctuating market.
"These sales represent not just remarkable properties but also the unwavering effort of our teams across New Zealand,” he says. "Buyers at this level are thoughtful and deliberate, and it’s encouraging to see confidence returning to the top end of the market.”
95 Victoria Avenue, Remuera sold for $20 million earlier this year.
Market Insights from 2024
The year has seen its share of ups and downs, with a buoyant summer giving way to a quieter autumn and winter. However, spring brought renewed activity, supported by stabilising inflation and a drop in the Official Cash Rate. By November, NZSIR’s sales figures were up 28% compared to 2023 – a promising indicator for the upcoming summer season.
Lifestyle regions such as the Southern Lakes, Hawke’s Bay, and Waiheke Island have performed particularly well, attracting buyers seeking a retreat from urban centres. Meanwhile, Christchurch has experienced steady growth as its revitalised CBD continues to draw both investors and homeowners.
For ultra-high-end buyers, privacy, exclusivity, and proximity to lifestyle amenities like skiing, golf, and beaches remain key priorities. Family considerations, including access to top-tier schools, also play a significant role..84 Paratai Drive, Remuera, Auckland, achieved the country’s highest sale price at $21.8 million NZD.
Leveraging Global Reach for Local Success
NZSIR’s affiliation with Sotheby’s International Realty – the world’s largest residential buyer referral network – has proven invaluable in achieving premium results. Harris notes that many of the agency’s top-end buyers are New Zealanders and Australians, with a growing number of high-net-worth internationals who see the unique appeal of New Zealand.
“Our brand is part of the world’s largest residential buyer referral network, and vendors – particularly at the higher end of the market – see value in that for achieving the best-possible property prices.”