New Zealand’s luxury property market is starting to gain momentum in regions outside Auckland and Queenstown, but there is anxiety among buyers and sellers around the proposed new rules on foreign buyers, says one of the country’s leading real estate agents, Graham Wall.
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Best known for selling some of Auckland’s most coveted properties, the Wall boys are a real estate trio to be reckoned with.
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The sale of an Auckland waterfront home could have set a new national house price record for the year, fetching just under $30 million.
Businessman and marina investor and developer Simon Herbert said he and wife Paula had just bought the big Cremorne St property, a modernist Brent Helena concrete place with its own boat-shed, helicopter pad, pool overlooking the waterfront and beachfront access.
Graham Wall said he had brokered the deal in an off-market non-advertised sale. "The best part of New Zealand is Auckland and its best suburb is Herne Bay and probably its best street is Cremorne St. Where else can you live on a beach just five minutes from the CBD?" Wall asked.
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Auckland couple Simon and Paula Herbert have just sold one of New Zealand's most stately city mansions for $25.5 million, understood to set this year's record for the most expensive residential sale.
Under Mrs Herbert's hand, the almost century-old house was given a delightfully contemporary twist, enhancing outstanding, eye-catching elements. Stark, glossy, black-and-white interior decor was brought to the house. Major renovations were carried out to both house and gardens in 2010 after the Herberts first moved in.
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Buying a house there is almost code for getting “apocalypse insurance”, and it is easy to understand why: if you want a place to hide when disaster strikes, there is no better place to be than isolated New Zealand.
Property consultant Ollie Wall, of Graham Wall Real Estate, says wealthy overseas buyers see his country as an escape from a volatile world. “As the world gets crazier and crazier our peaceful and beautiful little country just looks more attractive,” he says.
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The sale of 8 Wairangi Street, Herne Bay is among $45m of top-end real estate sold by Graham Wall Real Estate in the past month.
Ollie Wall said the recent election and swearing in of a new Government and had so far had no impact on the top-end real estate market."It was said to be the slow weeks surrounding the election, but not for us," Ollie Wall said.
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An outrageous inner-city pad with a drive-in art gallery, sculpture-like staircases and bespoke features throughout is on the market for the first time.
The Auckland home designed by Virgil and Fay Roberts was well ahead of its time when it was built 12 years ago. Windows and privacy screens close at the touch of a button, touch-pads control the lighting and heating on all three levels and an electric and candle-lit chandelier lowers automatically.
The stunning three-level townhouse on Hopetoun Street is being sold through Andrew Wall of Graham Wall Real Estate.
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Ollie Wall, of Graham Wall Real Estate, said there had been interest from some about properties by the water. Wall said because its company relied heavily on "security of information" it was unable to give specific names or addresses. "What I can say is that we have had serious enquiries about Auckland waterfront and Waiheke property by people directly involved with the America's cup since the win," he said.
Wall expected to see a substantial rise in the value of Auckland waterfront property in the years leading up to the cup. But one thing which could hamper plans was a lack of luxury waterside pads on the market.
"Our issue at the moment is supply of quality stock for the discerning buyer," Wall said.
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"This is more about taking away than adding. It would be more stunning than any structure could ever be and at next to no cost. The park could be used by all Aucklanders, all the time and have viewing screens and be a fan zone for the Cup itself."
The image being beamed across the world would be "our amazing blue harbour, beautiful green grass, trees and our spectacular city", Ollie Wall says. "This image represents our country exactly the way it should be."
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One man who knows Cremorne St better than most is realty agent Graham Wall, who has sold six of the 12 properties over the years - one of them twice. "It's a street that's been very good to me," he said. "It is without doubt one of the most beautiful streets in New Zealand and characterised not only by beautiful homes but by some of the nicest people you could ever meet."
22 Nov, 2014
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The island has moved upmarket in recent years attracting Auckland commuters as well as increasing interest from overseas.
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Wall says: “Even though no one knows us in Queenstown, we’ve actually done a lot of business down there and in Wanaka.
“We sold Damper Bay, probably the most expensive sale ever in Wanaka, for $14m about six months ago.
“Quite a few transactions and almost all of them with wealthy Americans.”
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NZ Herald article on current Graham Wall Real Estate Listing, 8 Wairangi Street, Herne Bay.
The Sultan of Brunei once owned 8 Wairangi St, which has five bedrooms and six bathrooms. The 1922sq m property has beach access and has been extensively renovated inside and out.
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Article and video featuring Andrew Wall, of Graham Wall Real Estate.
View full article here: http://www.newshub.co.nz/home/money/2016/09/rich-listers-pay-367pct-premium-for-exclusive-waterfront-homes.html
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NZ Herald Property Editor Anne Gibson talks to Ollie Wall from Graham Wall Real Estate on Americans buying up large in New Zealand, both in residential and commercial property.
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Graham Wall speaks to The Guardian about New Zealand as an international country of choice.
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Emirates Magazine speaks to Graham, Andrew and Ollie Wall about New Zealand's unique positioning and unparalleled advantages. Click the link to read the full article.
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Graham Wall speaks to The New Yorker about the uniqueness and rapidly growing international appetite for New Zealand.
“Kiwis used to talk about the ‘tyranny of distance,’ ” Wall said, as we crossed town in his Mercedes convertible. “Now the tyranny of distance is our greatest asset.”
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Ollie Wall talks chats about New Zealand's unique points of difference with Bloomberg.
“The world has got smaller,” Wall said in an e-mail. “You can run multinational corporations from paradise now. So why wouldn’t you?”
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"As the world gets crazier and crazier, New Zealand looks more attractive," says Mr Wall.
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New Zealand Herald article features Graham Wall current listing, 20 Rawene Street, Westmere.
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"UK Rich Lister Will Host World Music Stars on 7.3M Waiheke Haven"
Ollie Wall of Graham Wall Real Estate, which sold the property, said it was perfect for the music entrepreneur's purposes.
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Graham Wall sells a landmark Herne Bay home for $24 million - the most expensive house sale of the year.
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Graham Walls sells Auckland's most expensive house for $39 million.
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Graham Wall speaks to the New Zealand Herald about his listing of rare clifftop land in Auckland's Parnell.
"We live in the only country on earth with a truly golden future. That's why we're in the international market now." - Graham Wall
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Page one of interview with NZ Herald 2009
Page 2 of Interview with NZ Herald 2009
Graham Wall sells 11 Herne Bay homes owned by multibillionaire Sultan of Brunei in a single transaction of nearly $35 million.
Newspaper headline in regard to Graham Wall's success selling 11 Herne Bay homes owned by the Sultan of Brunei. The single residential real estate transaction of nearly $35 million set records.
Anne Gibson on Selling the Sultans properties.
"You've got to be good to sell $18M of property in your first two months of the job," writes Colin Taylor in the New Zealand Weekend Herald
Graham is quoted in the NBR on the value of boutique agencies selling high value real estate.
Graham quoted by the Sunday Herald discussing how undervalued New Zealand property is by international standards.
Graham quoted predicting the current property boom in 2007
