What it costs on top streets

Sea views still command the big dollars with Climie Tce crowned Timaru’s elite street.

The street has the highest median house price estimate in figures provided by homes.co.nz – at $1,188,899.

Park View Tce, which faces Climie Tce on the south side of Ashbury Park, also commands sea views and big bucks. It ranked second, with a median house price estimate of $963,220.

The next three spots went to Lazarette Loop ($786,350), Hunter Hills Dr ($769,359), and Meadowstone St ($755,953) – all part of the Hunters Hills subdivision.

The figures came as no surprise to Graeme Wilson of Mike Pero Real Estate in Timaru who said elevated sea views were still very sought after.

‘‘Why is Climie Tce commanding the highest prices? It is because of the unobstructed view of Caroline Bay and the magnificent view of the harbour.

‘‘People who want to be there want a great vista of the harbour.’’

It was similar on Park View Tce.

‘‘Park View Tce has always been desirable as it sits elevated to Ashbury Park.’’

Lazarette Loop, Hunter Hills Dr and Meadowstone St had been part of the most sought after subdivision for years, Wilson said. ‘‘It has a nice outlook; once you see new homes go up then it makes it more desirable.’’

The subdivision was also within the Gleniti Primary School zone, which made it attractive.

Homes.co.nz spokesman Jeremy O’Hanlon said; ‘‘As with most parts of New Zealand, small streets with great waterfront views generally command the highest premiums. Climie Tce is no exception to this rule of thumb.’’

O’Hanlon said new homes often commanded a premium, given significant improvements in building standards seen in recent years, and growth in average house size. ‘‘New subdivisions like that on Lazarette Loop most likely make the list for these reasons.’’