PHOTO: SUPPLIED – Tom Lintern says the same effect may be seen in future in other centres.
Properties in about 50 parts of Auckland are now worth less than their CVs, new data from Homes.co.nz shows.
The city’s properties were revalued last year but now suburbs including Mangere Bridge, Dannemora, Epsom, Half Moon Bay, New Lynn, Remuera and Te Atatu South all have Median Homes Estimates – a value based on the current sales price of others in the area – of less than their CV.
St Johns had the lowest price-to-CV ratio, with a median value of 94 per cent of median CV.
Homes.co.nz chief data scientist Tom Lintern said the concept of relying on a CV as a price guide was becoming less relevant.
Where are median values less than CV?
Auckland
St Johns
Dannemora
Schnapper Rock
Totara Vale
Mangere Bridge
Flat Bush
Hillsborough
Half Moon Bay
Stonefields
Greenlane
Auckland Central
Burswood
East Tamaki Heights
New Lynn
Milford
Remuera
Epsom
Pt England
Lynfield
Otara
Wattle Downs
Te Atatu South
Kelston
Mt Roskill
Torbay
Wst Harbour
Kingsland
Ponsonby
St Marys Bay
Mission Bay
Te Atatu Peninsula
Farm Cove
Pinehill
Onehunga
Pakuranga Heights
Blockhouse Bay
Morningside
Pakuranga
Botany Downs
Glenfield
Howick
Mt Wellington
Randwick Park
Papatoetoe
Forrest Hill
Glen Eden
Beachlands
Royal Oak
Herne Bay
Christchurch
Avonside
Upper Riccarton
Dallington
Riccarton
Avonhead
Northcote
Russley
Burnside
Ilam
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