100-Year-Old New Zealand Mansion Lists For $8.2 Million
The home is one of the largest historic homes in the Wellington suburb of Khandallah, and boasts a 4,000-bottle wine cellar
The home is one of the largest historic homes in the Wellington suburb of Khandallah, and boasts a 4,000-bottle wine cellar
One of the largest historic and most recognisable homes in a suburb of Wellington, New Zealand, has hit the market for NZ$9 million (A$8.2 million).
Located in Khandallah, about 8km north of Wellington, the 720sqm residence was designed by a prominent local architect Joseph Dawson and completed in 1929.
“It retains a high level of exterior authenticity in design, craftsmanship and materials,” according to Wellington Heritage, a local preservation group. “This house has significant townscape values; it is a local landmark that contributes greatly to the character and sense of place in Khandallah.”
Known as Box Hill, the Neo Georgian-style abode is also significant because it was built for local luminary Robert Barnes Gibbons. He was a car importer for the Colonial Motors Company, and the first to bring the Ford brand to New Zealand, according to Anthony Morsinkhof of PQ Property Intelligence/Forbes Global Properties, who listed the property earlier this month.
“It is one of the largest historic residential properties in Wellington,” Mr. Morsinkhof said in an email. “Khandallah is close to Wellington [central business district], with extraordinary views of the harbor…it is considered one of the most prestigious suburbs of Wellington.”
The five-bedroom, five-bathroom mansion has been a popular spot for social gatherings over the years, the agent added. It features an entrance hall clad in Queensland maple—a local species also known as red beech—with a grand staircase, and oak-paneled reception rooms and surrounding park-like grounds, according to the listing. There’s also a dining room that can seat about 100 guests.
“The icing on the cake in the entertainment realm is to discover that Box Hill is blessed with one of the best private home wine cellars, with capacity for 4,000 bottles stored in humidity and temperature-controlled conditions,” according to the listing.
The home last sold in 2006 for NZ$1.85 million, according to records with Propertyvalue, CoreLogic’s property website in New Zealand. The sellers were not immediately available for comment.
Wellington’s luxury housing market slipped in the first quarter of 2022, according to Mr. Morsinkhof. Both the number of transactions and the prices have dropped, with the median price of a home priced over NZ$3 million falling to NZ$3.3 million, compared to NZ$4.23 million at the same time last year.
“The Covid outbreak peaked in this period and many people were—due to isolation requirements—not able to leave their homes and buy or sell property,” Mr. Morsinkhof said. “However, since the loosening of Covid restrictions at the end of March we are seeing significant increase in inquiries for high-end property.”
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Whether you prefer the country or the coast, there are plenty of east coast options for cashed up buyers
There are 10 local council areas scattered along the East Coast of Australia that offer both affordability and solid fundamentals for sustainable future growth, according to the research team at residential property network, PRD. The areas have been selected based on five criterion. They are affordability – defined as a median house price below $600,000, rising house values, strong rental yields to encourage investment, a strong pipeline of residential, commercial and infrastructure projects to facilitate local economic development, and low unemployment.
Here are Australia’s 10 most affordable regional property markets with great future potential.
Mackay is a tropical coastal area located in north Queensland. It’s known for its closeconnection to the Great Barrier Reef. The median house price is $462,750, up 8.9 percent in 2023. Mackay attracts a lot of interstate migrants and is home to more than 120,000 people. It has a healthy economy with an unemployment rate of 3.7 percent and $1.7 billion worth of projects due to commence this year.
Toowoomba is located west of Brisbane and is known for its Victorian buildings, street artand surrounding national parks. The median house price is $560,000, up 10.9 percent in 2023. The city has a population of more than 180,000. The unemployment rate is 4 percentand there is $6.1 billion in projects commencing in 2024.
Townsville is a coastal city in north-eastern Queensland. The median house price is $420,000, up 5 percent in 2023. It is home to more than 200,000 people. Unemployment is very low at 2.5 percent and there is $3.2 billion of projects commencing this year.
Dubbo is located west of Newcastle in the Orana Region and is home to the Western Plains Zoo. The median house price is $530,000, up 11.6 percent in 2023. The population has exploded in recent years to more than 56,000 people. The unemployment rate is just 2.2percent and the economy is thriving. There is a pipeline of $4.7 billion in projects commencing this year.
Located in north-east NSW, Tamworth is known for its popular annual Country Music Festival. It’s also the largest retail centre for the New England and Northwest Slopes regions. The median house price is $490,000, up 14 percent in 2023. With a population of more than 65,000 people, the economy is strong with unemployment of just 2 percent and $112.4million worth of projects commencing this year.
Located west of Sydney and northwest of Canberra, Griffith is known for its prime produce production and wine cultivation. The median house price is $531,000, up 2.1 percent in 2023. Griffith’s population is about 27,000 people. The city boasts high economic resilience with a 2 percent unemployment rate and $258.7 million in projects in the pipeline.
Ballarat is a 1.5–hour drive west of Melbourne. It’s popular with city commuters who move here for housing affordability and a relaxed lifestyle with easy access to the city via train. The median house price is $570,000, down 4.2 percent in 2023 but up 92.9 percent over the past decade. The city has the third highest population in Victoria at about 118,000. Ballarat has an unemployment rate of 3 percent and a total projects pipeline worth $2.3 billion for 2024.
Shepparton is a rural area about two hours north of Melbourne. It is popularly referred to as ‘the food bowl of Australia’. The median house price is $475,000, up 4.4 percent in 2023. The population is about 70,000. The unemployment rate is just 2 percent and there is $1.8 billion in projects for 2024.
Wodonga is located on the border of NSW on the southern side of the Murray River. It is approximately 320km from Melbourne and 345km from Canberra. The median house price is $567,250, up 4.7 percent in 2023. With a population of about 44,000, the city’s jobless rate is 3 percent and there is $388.2 million in development set to commence in 2024, primarily new infrastructure.
Burnie is a bustling port city located in Emu Bay in Tasmania’s north-west. Overlooking beaches and parklands, the area is known for its rich agriculture and mining projects. The median house price is $435,000, up 3.6 percent. Despite a rising population, the unemployment rate is falling and is currently 5.6 percent. In 2024, Burnie’s project pipeline is valued at approximately $1.6 billion. A significant portion is commercial development, primarily renewable energy projects.
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This stylish family home combines a classic palette and finishes with a flexible floorplan