Some information received from Rob Ashton of Bayleys (Remuera)
Today the Auckland Council have published, on their website (www.aucklandcity.govt.nz), their new 2011 Capital Values which are valid as from the 1st July 2011.
To get some idea of the current relationship between Market Value and the new 2011 Capital Values I have analyzed 100 recent residential property sales in Remuera & Parnell since 1st July 2011.
2011 Capital Values – Grey
% Increase in 2008 CV – Green
No change in CV – Light Yellow
% Decrease in 2008 CV – Red
If you would like to know if your new Capital Value is fair / reasonable, I trust this information will be of some use to you.
In summary Rob Ashton, Real Estate Agent provides the following information:
- Both the median & average 2011 SP/CV ratio = 1.06 ie. 6% above the 2011 CV
- The 2011 SP/CV ratios ranged from a min of 0.66 to a max of 1.39
- The median % change in CV was an increase of 7.1%
- 67% of the properties had an increase in CV (Green)
- 18% of the properties had no change in CV ie. 2008CV = 2011CV (Yellow)
- 15% of the properties had a decrease in CV (Red)
- The max increase in CV was 42.3%
- The max decrease in CV was -22.2%
Our Property lawyers at Quay Law would like to thank Rob for sharing this information with us.