• Auckland houses are selling for up to 59 per cent over their official valuations, with some houses going for up to $600,000 over CV.

That’s around $30,000 more than the average asking price for houses in New Zealand, which in May Realestate.co.nz said was $570,971.

The last rating revaluation for Auckland was in 2014 and the Capital Values (CVs) were set as at July 1, 2014, so at that time the CV should have reflected the current market value of a property minus the value of the chattels.

However, the latest qv.co.nz E-Valuer quarterly report showed all Auckland suburbs had risen in value by between 20 and 50 per cent since April 2014.

READ MORE:
* West Auckland house sells for almost double CV and three times 2009 price
* Auckland house sells for double its council valuation

Auckland Property

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PETER MEECHAM/FAIRFAX
The latest report QV showed all suburbs in Auckland had risen in value by between 20 and 50 per cent since April 2014.

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