New Christchurch City Council rating values released - suburb by suburb
Home values in Christchurch have jumped by an average of 7.3 per cent in three years, according to new council rating valuations.
Owners are now able to check their new values online.
The revaluations of the city's 167,000 properties, including 143,000 homes, will be used to calculate rates from the middle of 2017.
The average home value, calculated by the Christchurch City Council's contracted valuer Quotable Value (QV), is $529,000. For sections, the average is $265,000
Unlike the previous round when properties were assessed as if repaired, this time values took account of earthquake damage.
Values were calculated using usual desktop methods based on the property market in August this year, plus information on damage or repairs volunteered by owners.
Letters with new valuations will be posted to owners from Friday onwards.
The biggest increases in values were in Somerfield and Spreydon, followed by Upper Riccarton, Sockburn and Wigram, and then Fendalton.
The smallest rises were in Akaroa, followed by New Brighton and then the area from Mt Pleasant to Taylors Mistake.
Most owners' values increased by less than 15 per cent, with a few losing value.
Council's manager of funds and financial policy, Steve Ballard, stressed that the increases did not indicate how much rates would rise.
"The rating values only decide your proportion of rates. They're an allocation mechanism."
Council decides on its upcoming rate take in its draft annual plan in March.
QV's national revaluation manager, Gail Smits, said 3900 homes were valued as damaged. About 600 owners self-reported damage, with other information gathered from council rates remission lists, physical inspections, and as-is sales.
Other than the changes caused by damage or repairs, there had been no sharp changes in values in the past three years, Smits said. Inner suburbs with high-density zonings has seen larger than usual increases.
"We are not looking at a volatile market, it's a steady-as-you-go market," she said.
The new rating valuations are available on the Christchurch City Council's website, ccc.govt.nz.
2016 CCC revaluations
Suburb, average increase, average rating value
Akaroa 2.0% $609,000
New Brighton 2.7% $369,000
Mt Pleasant to Taylors Mistake 2.7% $721,000
Aranui, Wainoni, Burwood, Avondale 3.9%$313,000
Redwood, Northcote 4.0% $507,000
Woolston, Bexley, Ferrymead, Bromley 4.3% $349,000
Lyttleton Bays 4.3% $530,000
Burwood, Parklands 4.5% $504,000
Halswell 5.3% $553,000
St Martins, Aynsley, Huntsbury, Hills 5.7% $570,000
Belfast, Northwood 5.8% $565,000
Shirley, Dallington, Avonside, Richmond 5.9% $373,000
Peninsula 6.0% $415,000
Southern & Hills Periphery 6.2% $796,000
Northern & Western Periphery 6.9% $613,000
Beckenham, Addington, Sydenham, Waltham, Opawa 7.2% $443,000
St Albans, Mairehau 7.2% $466,000
Casebrook, Bishopdale 7.4% $458,000
Merivale 7.4% $929,000
Riccarton, Middleton 7.7% $516,000
Hoon Hay 7.9% $430,000
Ilam, Burnside 8.2% $729,000
Cashmere, Westmoreland 8.2% $732,000
Hornby, Hei Hei, Islington 9.1% $460,000
Linwood, Charleston 9.2% $343,000
Christchurch Central 9.2% $658,666
Bryndwr, Wairakei 9.7% $491,000
Avonhead, Russley 9.7% $599,000
Lyttleton 10.5% $504,000
Papanui, Elmwood 10.8% $589,000
Fendalton 11.8% $1,159,000
Upper Riccarton, Sockburn 11.9% $461,000
Somerfield, Spreydon 12.0% $453,000