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Knowledge Centre Archive

Review some of our previous news items, articles and media releases.

 

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News

2017

08

Nov

Dunedin City: New rating valuations on their way

Media Release C/- Dunedin City Council The latest rating valuations for Dunedin properties will be arriving in letter boxes this week. In the Dunedin City Council area, there has been an overall 12.6% increase in capital value and a 19.5% rise in land value over the past three years. DCC Acting Chief Financial Officer Gavin Logie says the data shows the average house in Dunedin is now worth $335,000, compared with the 2013 average of $289,800. The commercial and industrial property market overa...

28

Oct

Construction Costs Increasing

By Martin Bisset (MNZIQS, Reg. QS) We all know that construction prices have moved considerably in the last 10 years, but I often get asked what has happened in the last couple of years. Our QV costbuilder index for this quarter has shown that building costs have increased greater than the Consumer Price Index (CPI) over the past few years (current CPI is 0.4% to June 2015). We have seen a range of variations across building types and regions. The largest average percentage increase experienced...

09

Sep

Understand your new rating value

New Zealand councils must keep the information they use to allocate rates up-to-date, and this year, QV has been contracted to reassess the values of 17 councils.  Check here to see if your council is part of the revaluation this year. If you own a property in one of the revaluation areas, you’ll receive a Notice of Rating Valuation with an updated rating value sometime between now and the end of the year.  What will this look like? The effective date of your rating value means the date on whic...

16

Dec

Investors snapping up South Auckland homes

By Bruce Wiggins, QV homevalue Auckland The latest QV residential price movement index figures show Auckland home values have started accelerating again at 'eye-watering' rates with some areas of the city seeing values rise more than five percent over the past three months alone.  Read more.

09

Oct

Planning for your summer renovations

By Bruce Wiggins ANZIV SPINZ, QV Registered Valuer, Team Leader - Northern These first days of warmer weather feels like a reward duly earned for months of cold wintery damp.  Properties always look their best in the summer, and with a few extra daylight hours in the evening to spend on home jobs, you may be considering getting your house ready to sell. In our industry we see prospective buyers can be turned-off by homes with incomplete renovations. Purchasers also don’t necessarily see what yo...

01

Oct

Understand your new rating value

Rating values will be updated this year for the properties in twenty councils by QV.  Check here to see if your council is part of the revaluation this year. If you own a property in one of the revaluation areas, you’ll receive a Notice of Rating Valuation with an updated rating value sometime between now and the end of 2013.  What will this look like? The effective date of your rating value means the date on which your home was re-valued.  Your council rates aren’t effective from this date; co...

Articles

2017

01

Mar

Why it's in your interest to keep your rating value (RV) up-to-date

QVratingvalue will be contracted as a rating valuation services provider to provide a General Revaluation for 21 local councils this year including Carterton, Clutha,  Invercargill, Kaipara, Kapiti Coast, MacKenzie, Marlborough, Masterton, Napier, Queenstown Lakes, Rangitikei, Ruapehu, South Wairarapa,  Stratford, Tararua, Tasman, Thames Coromandel, Timaru, Waikato, Waitaki and Westland. This means every property in these regions will get a new rating value (RV). These are a specific type of va...

08

Dec

Buller District rating revaluation shows residential property values have decreased by 18% since 2013

General overview The Buller District Rating Revaluation for 2016 is now confirmed and property owners will soon receive a 2016 Notice of Rating Valuation with an updated rating value for their property. The new rating valuations have been prepared on 7,876 properties on behalf of the Buller District Council by Quotable Value (QV).  Rating valuations are fit for purpose valuations carried out on all properties in New Zealand, usually once every three years to help local councils set rates for th...

14

Nov

Summer is almost here - Top tips for maintaining the value of your home

By Aidan Young, QVhomevalue Valuer for the QVhomevalue Dunedin newsletter - click here to subscribe The beginning of daylight savings and a few warmer days over the past few weeks are signs that summer is around the corner. Hello late night BBQ’s and possibly more time for home renovations. Whether you are tackling a total interior refurbishment or catching up on some deferred maintenance items that popped up over winter, now’s the time to undertake those jobs in order to maintain (and possibly...

02

Nov

Far North property rating values increase

Media Release C/- Far North District Council Residential property values in the Far North have rebounded from falls recorded three years ago, but Quotable Value says the District is yet to catch up with peaks seen in 2007. Quotable Value (QV) this week sent out Notice of Rating Valuations to all Far North District property owners. The rating valuations are commissioned by the Far North District Council, which uses the land value portion of valuations to help it set rates every three years. Wayn...

01

Nov

Rural market poised to make a slow recovery

ruralvalue brings together the expertise of QV’s South and North Island rural valuers into a distinct unit who provide rural advice and solutions to enable customers to make decisions that will help them grow their businesses and rural New Zealand.  Spring 2016 overview Rural confidence is low after the collapse of the global dairy markets, but recent dairy auctions have taken steps towards recovery with increases in the last five out of six Global Dairy-Trade auctions. While the price move is ...

18

Oct

Horowhenua rating revaluation shows moderate growth in property market over past three years

The Horowhenua District Rating Revaluation for 2016 has been finalised and property owners there will soon receive a 2016 Notice of Rating Valuation with an updated rating value for their property. The rating revaluation has been carried out by Quotable Value (QV) on behalf of the Horowhenua District Council. Rating valuations are a fit for purpose valuation carried out on all properties in New Zealand, usually once every three years to help local councils set rates in their area or District fo...

19

Sep

Dunedin property update

The Dunedin property market continues its steady upwards trajectory with QV statistics showing the average sale price in August was $338,791. This is great news for the local property market and the economy, and we are seeing a steady stream of first home buyers getting on the property ladder. In a busy market like this, characterised by high demand, we are seeing sales by auction, by negotiation, and deadline treaty becoming more common.  Here is an overview of these sale types and what we thi...

12

Sep

Understand your new rating value

Each year around one third of New Zealand homeowners receive a new rating value for their property.   This happens because councils must keep the information they use to allocate rates up-to-date, and this year, QV has been contracted to reassess the rating values of 21 councils.  Check here to see if your council is part of the revaluation this year. If you own a property in one of the revaluation areas, you’ll receive a letter with your property's new rating value sometime between September -...

05

Sep

QV costbuilder data shows building costs jumped 20.0% during the Christchurch rebuild

The latest QV costbuilder data shows the average cost of building a new home in New Zealand’s four largest cities has risen 21.09% since the previous peak of 2007, and 1.66% in the year to May 2016.   QV costbuilder is an arm of Quotable Value (QV) and provides the latest construction cost data to the property and construction industries through an online subscription web platform tool, which can be accessed on any device.   Subscribers can access a comprehensive range of building costs associa...

17

Aug

Dunedin - first home buyers, get on the property ladder!

The statistics held within QV show that Dunedin City values (to the end of July 2016) have increased by 4.5% over the past three months and by 6.8% over the past six months. Value levels are now 11.1% higher than the same time last year and 16.0% above the previous residential property peak in 2007. It’s no secret the New Zealand residential property market is very active with some record breaking levels including the national house value exceeding $600,000. Dunedin City home values continue to...

Media release

2017

31

Aug

QV Media Release: Annual home value growth slips below 5.0% for the first time in five years

The latest monthly QV House Price Index shows nationwide residential property values for August increased 4.8% over the past year which is the slowest annual rate since August 2012. Values rose by 1.2% over the past three months and the nationwide average value is now $641,648 which is 54.9% above the previous market peak of late 2007. When adjusted for inflation the nationwide annual increase drops slightly to 3.0% and values are now 29.3% above the 2007 peak. Residential property values acros...

29

Aug

QV Media Release: Nationwide value growth being driven by regions as Auckland market rises at slowest annual rate in five years

Nationwide value growth being driven by regions as Auckland market rises at slowest annual rate in five years The latest monthly QV House Price Index shows nationwide residential property values for July increased 6.4% over the past year which is the slowest annual rate since February 2015. Values rose by 1.6% over the past three months and the nationwide average value is now $641,280 which is 54.8% above the previous market peak of late 2007. When adjusted for inflation the nationwide annual i...

04

Jul

QV Media Release: Values remain steady in housing market but sales volumes drop as banks tighten lending criteria

The latest monthly QV House Price Index shows nationwide residential property values for June increased 8.1% over the past year which is the slowest annual rate since March 2015. Values rose by 1.2% over the past three months and the nationwide average value is now $639,051 which is 54.2% above the previous market peak of late 2007. When adjusted for inflation the nationwide annual increase drops slightly to 5.9% and values are now 28.8% above the 2007 peak. Residential property values across t...

23

Jun

QV costbuilder media release: Cost of building a home in NZ has risen 3.5% over the past year

The latest QVcostbuilder data shows the average cost of building a new home in New Zealand’s four largest cities has risen on average by 3.5% in the year to May 2017 and a total of 25.5% since the previous peak of 2007.   QVcostbuilder is an arm of state-owned enterprise, Quotable Value (QV) and provides the latest construction cost data to the property and construction industries through an online subscription web platform tool, which can be accessed on any device. Subscribers can access a com...

31

May

QV Media Release: Nationwide annual value growth drops to below 10% which is the slowest rate in two years

The latest monthly QV House Price Index shows nationwide residential property values for May increased 9.7% over the past year which is the slowest annual rate in two years. Values rose by 0.4% over the past three months and the nationwide average value is now $634,018 which is 53.0% above the previous market peak of late 2007. When adjusted for inflation the nationwide annual increase drops slightly to 7.4% and values are now 27.8% above the 2007 peak. Residential property values across the Au...

02

May

QV Media Release: Average value for Wellington tops $600,000 as the capital’s housing market continues to rise faster than Auckland

The latest monthly QV House Price Index shows that nationwide residential property values for April increased 11.1% over the past year, which is the slowest annual rate of growth since July 2015. Quarterly value growth plateaued with a 0.0% change over the past three months. This means nationwide average value remains at $631,147 which is 52.3% above the previous market peak of late 2007. When adjusted for inflation the nationwide annual increase drops slightly to 8.7% and values are now 27.2% ...

04

Apr

QV Media release: Wellington values continue to rise as Auckland, Hamilton and Tauranga plateau

The latest monthly QV House Price Index shows that nationwide residential property values for March increased 12.9% over the past year. Values rose by 0.6% over the past three months and the average value nationwide is $631,432. The nationwide average value is now 52.4% above the previous market peak of late 2007. When adjusted for inflation the nationwide annual increase drops slightly to 11.4% and values are now 28.5% above the 2007 peak. Residential property values across the Auckland region...

01

Mar

QV Media Release: Nationwide property values rise but Auckland, Hamilton and Christchurch drop

The latest monthly QV House Price Index shows that nationwide residential property values for February increased 13.5% over the past year. Values rose by 1.1% over the past three months and the average value nationwide is $631,349. The nationwide average value is now 52.4% above the previous market peak of late 2007. When adjusted for inflation the nationwide annual increase drops slightly to 12.0% and values are now 28.5% above the 2007 peak. Residential property values across the Auckland Reg...

31

Jan

Auckland and Hamilton values ease while nearby regions see strong growth

The latest monthly QV House Price Index shows that nationwide residential property values for January increased 13.5% over the past year. Values rose by 1.4% over the past three months and the average value nationwide is $631,302. The nationwide average value is now 52.4% above the previous market peak of late 2007. When adjusted for inflation the nationwide annual increase drops slightly to 12.0% and values are now 28.5% above the 2007 peak. The Auckland market has increased 12.8% year on year...

10

Jan

QV Media Release: Property values drop in parts of NZ as the LVR takes effect

The latest monthly QV House Price Index shows that nationwide residential property values for December increased 12.5% over the past year. Values rose by 1.3% over the past three months and are now 51.5% above the previous market peak of late 2007. When adjusted for inflation the nationwide annual increase drops slightly to 12.2% and values are now 28.5% above the 2007 peak. The average value nationwide is $627,905. The Auckland market has increased 12.2% year on year which is the slowest rate ...