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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

10

Oct

Significant rating valuation increase for Queenstown Lakes properties

Media Release from Queenstown Lakes District Council Properties have seen significant rating value increases since 2014 according to the recently completed Rating Revaluation for 2017. The new rating valuations have been prepared for 25,059 properties on behalf of Queenstown Lakes District Council by Quotable Value (QV). The rating revaluation figures compiled by QV show the rateable value of the 25,059 properties within the district is now $32,120,192,000, with the land value of those properti...

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...

Media release

2017

01

Aug

Media release: More affordable properties attract first home buyers

Media release  1 August 2018 Lower value, more affordable properties are selling at a faster rate, due to continued demand from first home buyers. Our analysis shows that most property transactions are taking place at the low-to-medium price bracket, a section of the market where value growth remains comparatively strong despite relatively static average house values across the country.     The latest monthly QV House Price Index shows nationwide residential property values for July increased 5...

04

Jul

Media Release: Winter chill moderates property values

Media Release    4 July 2018   The latest monthly QV House Price Index shows nationwide residential property values for June increased 5.7% over the past year, while values dropped 0.3% over the past three months. The nationwide average value is now $675,680. When adjusted for inflation, the nationwide annual increase drops slightly to 4.6%.   Meanwhile, residential property value growth across the Auckland Region increased by 0.8% year on year although they dropped by 0.2% over the past quarte...

06

Jun

QV Media Release: Values hold firm despite drop in sales

Media Release  7 June 2018 The latest monthly QV House Price Index shows nationwide residential property values for May increased 6.9% over the past year, while values rose 0.8% over the past three months. The nationwide average value is now $677,996. When adjusted for inflation, the nationwide annual increase drops slightly to 5.8%.    Meanwhile, residential property value growth across the Auckland Region increased slightly by 1.0% year on year and by 0.1% over the past quarter. The average v...

01

May

QV Media Release: Regions continue to see higher value growth than main centres

Media Release  2 May 2018 The latest monthly QV House Price Index shows nationwide residential property values for April increased 7.6% over the past year, while values rose 1.1% over the past three months. The nationwide average value is now $678,856. When adjusted for inflation the nationwide annual increase drops slightly to 6.4%.   Meanwhile, residential property value growth across the Auckland Region increased slightly by 0.8% year on year although values dropped by 0.3% over the past qua...

04

Apr

QV Media Release: March sees more sales but value growth still subdued

Media Release  5 April 2018 The latest monthly QV House Price Index shows nationwide residential property values for March increased 7.3% over the past year which is the fastest rate since June 2017. Values rose 1.2% over the past three months. The nationwide average value is now $677,618. When adjusted for inflation the nationwide annual increase drops slightly to 5.6%. Meanwhile, residential property value growth across the Auckland Region increased slightly by 1.0% year on year and values al...

07

Mar

QV Media Release: Regions continue to see the highest value growth

Media Release  7 March 2018 The latest monthly QV House Price Index shows nationwide residential property values for February increased 6.5% over the past year and 1.2% over the past three months. The nationwide average value is now $672,645. When adjusted for inflation the nationwide annual increase drops slightly to 4.9%. Meanwhile, residential property value growth across the Auckland Region increased slightly by 1.0% year on year which is the slowest annual rate since August 2017. Values al...

15

Feb

QV Media Release: Nationwide and Auckland residential property values rising again

Media release 9 February 2018 The latest monthly QV House Price Index shows nationwide residential property values for January increased 6.4% over the past year and values rose by 3.8% over the past three months. The nationwide average value is now $671,531. When adjusted for inflation, the nationwide annual increase drops slightly to 4.7%. Meanwhile, residential property value growth across the Auckland Region increased 0.7% in the year to January and 1.6% over the past three months, which is ...

11

Jan

QV Media Release: 2017 was a year of mixed sentiment in the residential property market

It was a disparate year for residential property values with a general trend of slowing in the rate of growth due to LVR speed limits, stricter retail bank lending criteria and uncertainty ahead of the election, along with periods of rapid value increases in some areas and decreasing values in others. Overall the nationwide average shows residential property values increased 6.6% or $41,660 during 2017 from $627,905 in December 2016 to $669,565 in December 2017, according to the latest QV House...

22

Dec

Steady value growth seen in the Coromandel reflected in new rating values

The new rating valuations have been prepared for 28433 properties on behalf of our District by Quotable Value (QV). It shows the total ratable value of these properties within our District area is now $20.3B  with the land value of those properties now valued at $13.1B. The updated rating valuations should reflect the likely selling price of a property at the effective revaluation date, which was 1 July, 2017, but do not include chattels. "The average capital value increase for residential prop...

21

Dec

Strong value increases seen across Napier District over the past three years

The Napier City Rating Revaluation for 2017 is now confirmed and property owners will soon receive a 2017 Notice of Rating Valuation with an updated rating value for their property. The new rating valuations have been prepared for 25,801 properties on behalf of the Napier District Council by Quotable Value (QV). Rating valuations are carried out on all properties in New Zealand, usually once every three years to specifically help local councils set rates for the following three year period.  Ra...