PHOTO: DOMINICO ZAPATA/STUFF Changes to building code and resource consent fees are expected to bring in another $662,000 for Auckland Council (file photo).
House prices are likely to increase after a proposal to increase building control and resource consent fees was given the green light, experts say.
Auckland Council voted in favour of the proposal, which was designed to improve cost recovery and bring in an additional $662,000 in annual revenue, last week.
Real Estate Institute of New Zealand chief executive Bindi Norwell said she was disappointed by the decision and warned house prices could rise.
“Over the last 10 years the median price of homes in Auckland has increased by 93 percent, from $440,000 in April 2009 to $850,000 in April 2019, and [the] announcement is likely to push this figure up even higher,” she said.
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