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Some parts of the North Shore boasts some of the most expensive real estate in New Zealand. The stretch of coast that runs North from Takapuna Beach to Milford, often referred to as the Golden Mile, has many properties there have sold for several million dollars particularly because of the beaches, Lake Pupuke, popular schools and shopping centres. In 2005, one beachfront property sold for 12.8 million US dollars. Rents in North Shore City, as well as property prices, are high in relative terms, with average weekly rents of 243 dollars versus 237 dollars for Wellington and 236 dollars for Auckland.
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