Historic eco home sells well above value
New Zealand’s first certified Passive House has sold for $4.215 million after heated bidding, underlining demand for sustainable, high-quality homes that retain long-term value.
Bidding frenzy tops $4m
The four-bedroom home on Kesteven Avenue, Glendowie, was listed by Barfoot & Thompson and drew intense competition. Bidding began at $3.3m – just below its RV of $3.575m – and quickly surged to $4m before the auction was briefly paused for negotiations, OneRoof and Stuff reported.
When bidding resumed, 19 further bids were placed, bringing the total to 28 before the hammer fell at $4.215m, $640,000 above RV.
Barfoot & Thompson listing agent Jonathan Viljoen told OneRoof that a local family secured the property. The underbidder, who had only registered the night before, was devastated to lose by just $5,000.
Viljoen said the buyers were delighted: “It is very emotional. I think they may just go home and enjoy the champagne and let it settle in.”
Value beyond sustainability
The vendors, who built the home 13 years ago, said the result confirmed the market value of energy-efficient design.
“Passive houses have two purposes: to enjoy when you’re in them, and to keep their value. It’s a 13-year-old house, and it has sold well above market,” they said. “It was too big for two people. Our plan is to build a similar passive house, version two.”
Auctioneer Murray Smith said the sale was a standout for the suburb.
“It is a significant achievement in that part of Glendowie,” Smith said. “The bidding was strong. The house was worthy of Grand Designs. You could see it as soon as you walked in the door.”
Innovation ahead of its time
The home was the first in Australasia to meet the Passivhaus (Passive House) standard, maintaining year-round temperatures of 20-22°C with minimal heating.
Owner Philip told Stuff that his family had grown so accustomed to the constant warmth that his children disliked sleepovers at colder homes. Energy bills remain around $120 a month, even with three EVs charging, thanks to airtight construction, triple glazing, and a heat recovery system that recirculates air six times an hour.
He recalled early hurdles: “There were no materials in New Zealand, there was no knowledge in New Zealand. At that point [in 2011], the council was very worried about leaky buildings. Someone in council said to me, ‘Our air is different from the air in Europe, so it won’t work here.’”
Support from engineers and council design leaders eventually helped the home gain approval. Builder Chris Foley was also credited as instrumental to the project’s success.
Implications for mortgage advisers
For mortgage advisers, the Glendowie Passive House demonstrates how sustainability is becoming a premium driver of value in the housing market.
With Cotality valuing Glendowie homes at a median $2m, this property’s $4.215m result highlights how energy efficiency, durability, and design innovation can deliver both lifestyle benefits and above-market returns.
As more clients seek eco-conscious homes, brokers may see greater demand for lending products that support sustainable builds, renovations, or high-value resales.
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