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Records smashed as luxury property market booms in Tauranga
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Graham Wall and sons, Ollie (left) and Andrew (right), run a family real estate business from their property on Tole Street, Ponsonby, Auckland.
Real estate tycoon Graham Wall says his multi-million dollar family business is 80 per cent good luck, and 20 per cent excellent good luck. He holds the record for the most expensive property ever sold in New Zealand, a seven-bedroom clifftop mansion that fronts Paritai Drive in Auckland went for $38,500,000 in 2013 to China-born businessman Deyi Shi, the chairman of Oravida Group. The property was developed by former Hanover Finance director Mark Hotchin. Wall reckons he “could sell that house for $55M this afternoon”, but that’s not how the luxury real estate industry works in this country. “Only a handful of houses will ever sell for above $20 million in New Zealand.”