Arrowtown’s 10 Highest Residential Sale Prices: Will New Listings Shatter Records?

Arrowtown has long been a beacon of high-end real estate in the Southern Lakes region, with its historic charm and desirable location drawing buyers from across New Zealand and beyond. Over the years, some of the town’s finest homes have fetched impressive prices, reaching well into the millions. Below, we take a look at the 10 highest residential sale prices in Arrowtown to date and explore what might lie ahead for the town’s luxury property market.

Most Expensive Arrowtown Residential Sales

1. 19B Advance Terrace – $4,350,000 (September 2023)
   Topping the list, 19B Advance Terrace sold for a record-breaking $4.35 million. This luxury property boasts contemporary design, expansive outdoor living spaces, and breathtaking views of the surrounding hills and valleys, setting the benchmark for high-end homes in Arrowtown. (Agent: Nick Newman)
2. 5 Villiers Street (7,895 m²) – $4,100,000 (February 2006)
   Sold back in 2006 for a phenomenal price at the time, the property was later subdivided to create what is now the “Three Mayors” subdivision. Referencing the three generations of the Mayor that resided in the historic home. (Agent: Michael Tierney)
3. 5 Villiers Street (3,119 m²) – $4,075,000 (February 2023)
   Sold again many years on as a smaller parcel of land post subdivision, this property better known as Reidhaven has come to represent a significant part of Arrowtown’s history since it was constructed in 1866. (Agent: Ben Miller)
   Photo of 5 Villiers from its most recent marketing campaign
4. 133 Essex Avenue – $4,000,000 (January 2022)
   The last property to clear the $4m mark on this list, has the second largest building footprint of all homes mentioned at 465 square metres making it one of Arrowtowns largest homes. (Agent: Gerard and Hadley)
5. 12 Essex Avenue – $3,800,000 (October 2021)
   A well-regarded property in the area, 12 Essex sold for $3.8 million. This is also one of only two properties to make the list as being sold via the Auction method of sale. (Agent: Alan Sutton and Lesley Barr)
6. 32 Flynn Lane – $3,652,000 (August 2022)
   Selling for just over $3.65 million, this home is a beautiful modern take on the early stone cottages found around the area. Interestingly, it was purchased by the owners for $2,811,500 in February of 2021 so a mega gain for such a short period was achieved. (Agent: Nick Horton and Terry Spice)
7. 97 Cotter Avenue – $3,600,000 (June 2021)
   Sophisticated and stylish, this gorgeous architecturally designed home captivated its buyers, to sell for $3.6m. Set in an elevated position on Cotter Avenue this stunning home boasts spectacular uninterrupted South West facing Wakatipu Basin views, overlooking Millbrook and The Hills golf courses. (Agent: Melanie Rogers and Dave Fea)
8. 20 Caernarvon Street – $3,490,000 (June 2021)
   This prime historic zone property fetched $3.49 million at auction due to its stunning design and proximity to town, making it one of Arrowtown’s top luxury offerings. (Agent: Alan Sutton and Wayne Cafe)
9. 5 Cotter Avenue – $3,450,000 (March 2023)
   5 Cotter Avenue located on one of Arrowtown’s premier streets, features expansive gardens and luxurious finishes to achieve its ultimate sale price. (Agent: Hamish Walker)
10. 1 Advance Terrace – $3,450,000 (December 2022)
    And rounding off the list is another ridgeline property to bring the total of these ridgeline sales featured on the list to four, really showing the desire for buyers to secure properties with these unreplicatable positions. (Agent: Hamish Walker)

What Lies Ahead for Arrowtown’s Property Market?

While Arrowtown has seen several impressive sales, especially in the $3-4 million range, there are currently properties on the market that could potentially shatter these records. However, breaking the $4 million mark has historically been challenging for Arrowtown, as competition from nearby areas like Dalefield has grown. Dalefield, with its larger land offerings, privacy, and more rural setting, has always been more appealing to buyers with more to spend who are seeking a bit more space and seclusion at these price points.

In contrast, Arrowtown’s homes offer a unique combination of history, charm, and proximity to the village centre, which continues to draw buyers who appreciate the town’s character. However, with homes priced in excess of $4 million struggling to sell in the past, sellers in this upper echelon of the market may face challenges when competing with the larger estates in Dalefield.

The Key to Future Sales Success

As Arrowtown’s property market continues to evolve, the ability to differentiate between what high-end buyers value most will be crucial. Homes that seamlessly blend Arrowtown’s charm with modern luxury, especially those offering privacy and views, are likely to continue attracting premium prices. However, breaking beyond the $4 million threshold may require careful marketing and an understanding that buyers in this bracket are increasingly looking for more than just a beautiful home – they’re looking for a lifestyle that offers security, privacy, and unique architectural elements.