Revealed: why is everyone competing for homes in central Auckland? Meet the central suburb with boundless untapped potential!

After living in Auckland for a while, many people notice an unspoken pattern: why is everyone competing for homes in the central suburbs? Why are some even willing to wait years for their ideal grand central Auckland home? The answer is simple: location!

 

A central location offers more than convenient transport connections: it also helps a property retain its value over time. With Immigration New Zealand removing the incentives for regional settlement under skilled migration, Auckland is certain to attract more migrants, and population growth will continue to drive increases in property values. In property transactions, location is an enduring principle: as the city develops, central locations will become even scarcer.

 

If you want to live in central Auckland but have a limited budget or do not know where to start, then Mt Albert, a central suburb with untapped potential, an excellent location and outstanding value for money, is somewhere you simply cannot overlook.

 

A rich history

 

Mt Albert is one of Auckland’s oldest areas. After the Treaty of Waitangi was signed in 1840, the government designated many new place names throughout New Zealand. This area was named Mt Albert in honour of Prince Albert, the consort of the young, newly married Queen Victoria.

 

Early last century, its proximity to the town of Auckland made Mt Albert a favoured location for wealthy people’s large estates. By the period between the world wars, Mt Albert Borough had become New Zealand’s largest administrative district. From the 1940s, intensive housing development made it one of Auckland’s fastest-growing areas.

 

Over the century that followed, Mt Albert attracted increasing numbers of residents and many high-quality educational institutions, becoming a treasured jewel of central Auckland. As at June 2022, Mt Albert had an estimated population of 12,800, with relatively high levels of income and educational attainment.

 

What advantages does this central suburb with untapped potential offer?

 

Scarce locations, a concentration of prestigious schools and comprehensive transport infrastructure are drawing many wealthy Aucklanders into the central suburbs. Yet property prices there have become prohibitively expensive. Buyers seeking a good central Auckland home offering outstanding value should look to Mt Albert. What distinctive advantages does this overlooked contender offer?

 

 

01

An excellent location:

Mt Albert sits at the centre of a convenient transport network, with several bus routes running directly to the CBD, nearby train stations and easy access to motorways 16 and 20. Driving from Mt Albert to the CBD takes only about 10 minutes. Its position almost in the geographical centre of Auckland also means relatively balanced travel distances to the North Shore and the eastern, western and southern suburbs. This is a major advantage for commuters.

 

 

02

A more affordable central suburb:

Although equally central, Mt Albert is somewhat more affordable than nearby areas such as Remuera, Epsom and Mt Eden, where homes frequently cost three or four million dollars. It is a good option for people seeking a home to live in within central Auckland. According to Realestate.co.nz, as at June 2023, Mt Albert’s latest median house sale price was NZ$1,257,000.

 

 

03

A diverse range of properties:

At a time when property prices across central Auckland are generally out of reach, Mt Albert offers a variety of property types to suit different budgets. From historic hilltop buildings and beautiful standalone homes to newly built townhouses and apartments, buyers can readily find a suitable option, whether for their own use or as an investment.

 

According to Trade Me, prices for different property types in Mt Albert over the six months ending 31 December 2022 were as follows:

 

Standalone houses: NZ$1,560,000

Townhouses: NZ$1,080,000

Apartments: NZ$753,000

Units: NZ$694,000

 

 

04

Extensive educational opportunities:

The area is home not only to AUT but also to many excellent schools, including the renowned Mt Albert Grammar School and Gladstone Primary School. Although also centrally located, homes in Mt Albert’s school zones are clearly more affordable than those in Mt Eden and Epsom, while the quality of education is similarly high.

 

05

Stable prices with potential for growth:

Although house prices have fallen from their 2021 peak, they remain above 2019 levels and are expected to stay stable over the coming months. Historical experience suggests prices could rise again.

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05

Extensive shopping and amenities:

The area offers a Westfield shopping centre, Auckland Zoo, Alan Wood Reserve, Western Springs Park, and a variety of food shops and Chinese supermarkets. Such comprehensive amenities can meet almost every aspect of a family’s daily needs.

 

The people who know this area best are the real estate agents who have worked here for years. YIJU New Zealand interviewed an experienced agent from Barfoot & Thompson’s Mt Albert branch to hear his perspective on the area.

Gavin Han

Barfoot & Thompson Mt Albert Branch

Residential Sales

 

YIJU: If you had to describe Mt Albert in three words, what would they be, and why?

 

Gavin Han：If I had to describe Mt Albert in three words, I would choose convenience, history and community.

 

Convenience: Mt Albert sits on the fringe of central Auckland and has exceptionally convenient transport connections. Residents can easily reach the city centre by car or public transport, while the motorways provide direct connections in every direction.

 

History: Mt Albert is one of Auckland’s historic areas. It has a rich history and cultural heritage, with some well-preserved old buildings that bear witness to Auckland’s past.

 

Community: Mt Albert is a warm, friendly community. It offers a wide variety of community amenities, including schools, St Lukes shopping centre, Auckland Zoo, and numerous local shops, cafés and restaurants.

 

YIJU: What are Mt Albert’s property market and housing stock like at present?

 

Gavin Han：Mt Albert is a relatively underrated part of Auckland, and many Chinese people consider it part of West Auckland. In fact, it offers convenient transport, schools with relatively good ratings and a very comfortable living environment. Whether you are a first-home buyer, a family with school-age children or a household with older relatives, you can meet your different needs here. Its population will grow rapidly in the period ahead, bringing significant changes and opportunities.

 

There are many historic buildings and carefully maintained properties here, as well as some newly built modern homes. Housing types can include standalone houses, townhouses, apartments and traditional homes, catering to different living needs. More specifically, older houses on 500–600 square metres of land range from the low NZ$2,000,000s to the high NZ$2,000,000s; older houses on more than 700 square metres range from the low NZ$3,000,000s to the high NZ$3,000,000s. Newly built townhouses with 2 bedrooms cost around NZ$900,000, while those with 3 bedrooms cost around NZ$1,000,000.

 

For example, among the properties I am currently selling, several are worth recommending:

 

A large home on a large section:

18 Martin Avenue, Mt Albert

https://www.barfoot.co.nz/849126

An entry-level 2-bedroom home:

5/24 Norrie Avenue, Mt Albert

https://www.barfoot.co.nz/850814

Newly built townhouses, with 2-bedroom and 3-bedroom options:

Lts1-10/3-5 Norrie Avenue, Mt Albert

https://www.barfoot.co.nz/848915

 

Newly built apartments, including a top-floor penthouse:

https://www.barfoot.co.nz/850350

https://www.barfoot.co.nz/850360

YIJU: Please recommend a few of the best neighbourhoods in Mt Albert to buy in.

 

Gavin Han：Traditionally, Mt Albert’s ‘Golden Triangle’ and the neighbourhoods on Mt Albert itself have been highly sought after. The ‘Golden Triangle’ is a long-established local name for Allendale Rd, Stilwell Rd, Summit Dr and the surrounding streets. With changes to planning zones and the construction of many different types of new homes, the best choice for any buyer is the one that suits their needs.