Roseneath
The best views in town, but at a price
Overview
Home to Wellington’s wealthy and sometimes famous, Roseneath is a prime locality where you’ll need deep pockets to afford anything remotely reasonable. Even a piece of land here, if you can find it, could set you back over a million dollars. Enjoying some of Wellington’s best views, the area is close enough to enjoy a beautiful walk along Oriental Bay, into Wellington City. There is a popular local school and the suburb enjoys all day sunlight, but with a fairly hefty dose of the Wellington northerly wind.
Best Suited To
Company executives, business owners, and anyone who can afford it.
Population Profile
Roseneath is home to two primary age groups. The most obvious are the 50 plus crowd, successful enough in their business lives to be able to afford to live in this high-cost locality. The second age group prevalent here are the young workforce, 25 to 34 year olds who desire a locality close to the central city and don’t mind paying above average rents to enjoy the proximity to the city, high quality housing and stupendous views.
The area is not particularly attractive to young families because level land is limited. Sites here are so valuable that any spare land is often sold off for development. Roseneath is 87% European in its ethnic makeup. Twenty six percent of the population have higher degrees, with a prevalence towards the arts, management/commerce, and the creative arts. This is the land of the wealthy with 53 percent earning over $100,000 per annum.
Typical Homes
Roseneath is home to a wide variety of housing styles from early 1900’s villas to high spec new homes. It would be fair to say that the large majority of homes are well above average in their specifications as the locals are likely to have invested substantial sums in additions and renovations. It’s rare to find an older, unrenovated home here now. Those that you do find are likely to be rented to younger people and in this locality the rent won’t be cheap. Most homes in the area are set on steep hillsides, so don’t expect to find flat sites here. Homes with views of the downtown area attract the biggest premiums.
Amenities
There is a small group of shops set at the peak of Maida Vale Road, although at the time of writing these seem to be closed or in a state of transition.
Roseneath School caters for years one to eight, with a school role of about 150. The school has a long history going back to the late 1800’s and has the most enviable school position with panoramic harbour views.
The coastline around the waterfront is a popular extension from nearby Oriental Bay. Many run along the waterfront from the city to Point Jerningham and back, as well as walkers, rollerblades and cyclists sharing the sidewalk. Little Karaka Bay and Balaena Bay, just around the corner from Point Jerningham, are popular bathing beaches in the summer months, the later having toilets and a changing shed. The Southern Walkway skirts the western side of the suburb, rising steeply to Mt Victoria and well worth the walk up for the peaceful bush setting and views over the city.
Real Estate Trends
Apart from a very small number of compact flats, it’s next to impossible to pick up anything under $750,000 here. From $1 million to $1.6 million you’re likely to find properties set on the east facing slopes with an outlook over Evans Bay, but without city views. Better homes with city views kick in from about the $2 million mark. Properties that are set on larger sites, say over 700 square metres, will have prices that reflect their rarity, desirability and potential for development. Three million and upwards is where you’ll need to pitch your offer if you really want to get something special here
Best Streets
The Crescent is perhaps the most desirable street in Roseneath. Homes here have panoramic city and harbour views, all day sun, usually easy access off the street to covered parking, and wealthy neighbours!
House Prices
Basic three bedroom house, needs upgrading, no city views, from $900,000.
Well-presented, three bedroom, partly upgraded, city views, from $1.5 million.
Larger family home, upgraded, with generous site, from $2 million.
Travel Times
Central city – driving 5 minutes non-peak, up to 15 minutes peak.
Airport – driving 10 minutes non-peak.
Hutt Valley – driving 20 minutes non-peak
Weather
Roseneath faces directly into the northerly and it can get very windy up here. Try and find a site that gets some shelter from neighbouring buildings or vegetation. Direct sunlight all day is a given.