Rodney property values above average

The Waitoki and Wainui area has recorded some of the highest average valuation increases in Auckland.

The three-yearly valuations for the 549,000 properties from Franklin to Rodney were released last month. The average rise across the whole of Auckland was 45 per cent, but in Waitoki and Wainui it averaged 102 per cent.

On the Hibiscus Coast the average was 42 per cent and in the whole of Rodney it was 47 per cent.
Auckland Council says the largest movements in the outer suburbs appear to be a result of higher demand in areas where property is less expensive.

Head of rates Debbie Acott says that generally speaking, the values in Auckland’s outer suburbs appear to be catching up with the 2014 revaluation.

“Areas that increased the most in the last revaluation – by and large central Auckland – are now moving roughly along the average,” she says. “Those that didn’t last time – mainly outer Auckland – are the ones with the highest increases this time.”

Commercial and industrial properties rose 43 per cent and 47 per cent respectively, while lifestyle properties increased by 57 per cent and rural by 35 per cent.

Ms Acott says that Aucklanders should remember that a high increase in property value doesn’t necessarily mean there will be a corresponding increase in rates.

“Property valuations are used to help us work out everyone’s share of rates – they don’t mean that we collect any more money. However, we won’t know the impact of this revaluation on rates until we agree our budget next year, so I encourage Aucklanders to view these valuations with that in mind.”

Not unexpected
Registered valuer Vicki Phillips, of Property Indepth specialising in Rodney and Hibiscus Coast, says the 42 per cent average Capital Value (CV) increase for the Hibiscus & Bays Local Board area is not unexpected, considering the volume of new dwellings being built in the area, which tend to be of a higher value.

“These are averages and it is of little value, other than interest sake, when it comes to valuing your property,” she says. “There will be many properties in the region which will have seen a greater increase in their CV, especially those with development potential under the Unitary Plan. Also, the increase is only relative to the last round of CV’s, and who is to say they were accurate.

“I can recall similar concerns from homeowners about this during the last round of CV’s released in 2014. The increase for this area is close to the Auckland average, and it’s not surprising to see areas of cheaper housing see greater increases in values due to the demand for these lower value properties.”
Ms Phillips says the feedback from many in the Property Indepth team across Auckland is mixed with regards to the CV’s being fair.

“One homeowner our team has spoken to was already confused – he owned an attached townhouse in the North Shore, the exact mirror image of his neighbour, yet their CV’s differed by $30,000!”

Ms Phillips says the effect on rates depends somewhat on two factors – the planned increase to the Council budget and how much a property’s CV has changed compared to the Auckland average of 45 per cent.

“If you are well below this average, the likelihood is that your rates could decrease. If you are above, then the likelihood is that your rates will probably increase.

“This is rather a simplistic view as Council’s budget is apportioned across all rateable properties in Auckland, both commercial and residential.”

Objection process
​Anyone can object to a property’s valuation, not just the property owner.
The objection period for the 2017 revaluation closes on January 16, at 5pm.
Info: aucklandcouncil.govt.nz/property-rates-valuations/our-valuation-of-your-property/Pages/default


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