Auckland property prices: Homeowners to get bombshell valuations: new date out
18 May, 2021 05:00 PM
5 minutes to read
House sells for double its valuation with 24 offers. Made with funding from NZ On Air.
House sells for double its valuation with 24 offers. Made with funding from NZ On Air.
NZ Herald
Auckland homeowners can expect a bombshell rise in their council valuations when city-wide revaluations are released later this year, a property lawyer says.
City house prices have soared 35 per cent since the last valuations in 2017, with Auckland Council revealing it now expects to issue new valuations – officially known as capital values or CVs – this October.
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Auckland homeowners to get bombshell property valuations
(Photo / NZ Herald) Wed, 19 May 2021, 9:17AM
Auckland homeowners can expect a bombshell rise in their council valuations when city-wide revaluations are released later this year, a property lawyer says.
City house prices have soared 35 per cent since the last valuations in 2017, with Auckland Council revealing it now expects to issue new valuations – officially known as capital values or CVs – this October.
Mum-and-dad homeowners, retirees and property investors will all be keeping a close eye on the new valuations as it can affect how much they pay in council rates, and how much they can borrow from banks.
Wednesday, 12 May 2021, 6:47 am
The First Home Buyers Club, Tenants Protection Canterbury
and the NZ Property Investors Federation have presented a
letter to Government requesting them to reconsider removing
mortgage interest costs on rental properties.
Research
has shown that 90% of rental property owners will be
affected by the tax increase, with each rental property
being taxed an extra $4,542 per year. Although the tax
increase will force some providers to sell their rental
properties, the majority hope to be able to keep them
through reluctantly increasing rental prices.
Lesley
Harris, from the First Home Owners Club, said while they
actively save money for their home deposit, they could be