Auckland property values increasing

JOSH FAGAN
Last updated 12:04 19/08/2014

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Auckland property values have jumped an average of 33 per cent over the past three years.

The increase ranged between 22 per cent and 44 per cent across different parts of the city, with the larger movements generally due to proximity to central Auckland, according to latest figures.

The indicative data was collected as part of Auckland Council's three-yearly general property revaluation - determining the allocation of rates.

Increases were in line with expectations, Auckland Council's Registered Valuer Peter McKay said.

It meant rates were set to go up, however McKay said it did not impact on the overall amount of rates collected.

He said the figures helped determined each ratepayer's share of rates, based on its valuation.

Those likely to take on a greater rates burden were in fast-growing areas such as Kaipatiki, Maungakiekie-Tamaki, Puketapapa and Whau, which all grew by more than 40 per cent.

Maungakiekie-Tamaki saw the biggest gains of 44 per cent.

This was due to greater transportation and roading, including recent rail development in Onehunga and new rail station in Panmure, as well as AMETI in the east and SH20 to the west, Auckland Council's report suggests.

Great Barrier Island was the only local board area to go backwards - with values declining 12 per cent since 2011.

A council report noted value levels on the island have steadily declined and sales volumes have been low.

More than 525,000 Auckland properties were revalued.

A revaluation report  is due to be lodged to the council's Finance and Performance Committee on Thursday. 

The data will be used to help set rates for the three-year rating period beginning on July 1, 2015. 

Property owners are set to receive their notices in the mail in mid-November, 2014.

Click here for a map of the region with local board valuation changes and commentary.

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