New Zealand's most and least affordable streets revealed

The most expensive street to buy a home in New Zealand is in Auckland's Herne Bay, according to Ray White's chief economist. 

Nerida Conisbee investigated the nation's most and least expensive streets and found the most expensive was Marine Parade with a median house price of $9.375 million.

Auckland's most affordable street is Port Albert Road in Wellsford, with a street median of $547,500. 

Christchurch's most expensive street is Jackson Road, Merivale, with a house price median of $2.55 million, while the city's most affordable is Grimseys Road, Redwood, with a street median of $507,000. 

In Wellington, Oriental Parade, Oriental Bay, is the most expensive street with a street median of $3.1 million, while Mark Avenue, Paparangi, is the most affordable street with a house price median of $639,000. 

While Marine Parade is likely expensive due to its waterfront views, that's not the case with all of New Zealand's expensive streets, Conisbee said. 

"Marine Parade in Herne Bay tops the list as the most expensive street in New Zealand, and although it has water views, it is not necessarily the case for every city's priciest addresses.

"Some of the characteristics that often appear in New Zealand's most expensive suburbs include large lot sizes, access to beaches or parks, good standard of public infrastructure, low crime, good views, access to amenities, and a close distance to the CBD. "

The most affordable street in the three cities investigated was Grimseys Road in, Redwood, Christchurch. 

But Conisbee said with house prices booming across the country, even the cheap streets aren't that cheap. 

"Interestingly, the most affordable streets aren't that cheap, particularly in Christchurch and Wellington, where the gap between most expensive and cheapest is relative, particularly compared to Auckland, which has a much bigger gap. 

"Some of the characteristics common in the country's more affordable streets include smaller lot sizes, they're often on busy streets, poor standard of local infrastructure, poor/remote access to amenities, and they often contain high proportions of ageing government-provided housing." 

Ray White Ponsonby agent Jan George said homes on Marine Parade are in hot demand. 

"The street is highly desirable because it enjoys close proximity to the water and fantastic views.

"It is very quiet and neighbourly and yet is so close to the CBD, Wynyard Quarter, Westhaven and motorway access. 

"The restaurants, cafes and boutique shopping of Jervois and Ponsonby Roads and good supermarkets."

George said owners are often reluctant to sell which also pushes the street's prices up. 

"The first of many that I've sold in the street was in 1996 and those people still own it. Homes are often kept through generations, within families."

New Zealand's second most expensive street is Arney Crescent in Remuera with a median house price of $6.25 million.