New Christchurch City Council rating values released - suburb by suburb

Values rose by more in Christchurch's inner suburbs.
Kirk Hargreaves

Values rose by more in Christchurch's inner suburbs.

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.  

Christchurch's average home rating value is $529,000.

Christchurch's average home rating value is $529,000.

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. 

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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

 

 

 - Stuff

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