Auckland Council’s latest property valuations released today show significant movements across the region, with an average value increase of 34 per cent.
The updated values reflect the likely price a property would have sold for as at 1 June 2021, and will be used to determine the share of rates for the next rating year starting July 1.
The local board with the largest increase in this revaluation is Aotea Great Barrier, showing a 59 per cent average increase.
The other local board areas with the largest movements are in Māngere-Ōtāhuhu, Henderson-Massey and Maungakiekie-Tāmaki, all of which have seen average increases between 41 and 49 per cent. These areas have all undergone intensification in recent years, and these movements demonstrate the impact of this.
In comparison, the Waitematā area, which has a large share of apartments, has a lower average increase – 15 per cent.
Auckland Council chief economist Gary Blick says the effects of the Unitary Plan implemented in 2016 can be seen in the valuations.
“We started to see these impacts in the 2017 revaluation, but realistically the effect is showing now. The value increases have moved out from the city centre, which is what we would expect as housing in those areas becomes more desirable,” Blick says.
Standalone dwellings have increased by 34 per cent while increases for already intensified housing types like apartments (eight per cent) and flats (27 per cent) are slightly lower.
Group treasurer John Bishop says that percentage increases aren’t the only consideration, “It’s worth noting that though we are seeing the highest value increase on Aotea Great Barrier this year, it is still one of the lowest valued areas in the region at around 43 per cent of the average.”
Individual property data is now available for the more than 590,000 properties in Auckland at aucklandcouncil.govt.nz/revaluation. Property owners will receive valuation notices in the mail, including information on how to object, from next week.
If you don’t agree with the details held for your property, for example, it shows the wrong number of bathrooms, or, if you disagree with the value itself, you can lodge an objection. Information on this will be included on your valuation notice and the Auckland Council website.