$3m-plus for former PM's home

The price paid for the substantial 1930s Forres St house in Seatoun is believed to have smashed house price records for the fashionable seaside suburb. The property has a ratable valuation of $1.275 million.

It was sold by real estate agent Ted Jewett and his wife Sylvie, who bought it for $400,000 in 1992. Mr Jewett is on holiday overseas and was not available for comment.

The new owner is a Wellington-based family trust. The sale was subject to a confidentiality agreement and trust spokesman Nigel Jeffries would not comment on its details.

But he said rumours that the price was up to $4.2 million were highly exaggerated. It was a beautifully maintained home which had several notable owners.

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