Take val­u­a­tions with grain of salt

North Shore Times - - YOUR LOCAL NEWS - KASHKA TUN­STALL

A lead­ing North Shore real es­tate agent says Auck­land Coun­cil’s reval­u­a­tion fig­ures for homes across the re­gion pro­vides in­ac­cu­rate in­for­ma­tion to buy­ers and sellers.

The coun­cil’s fig­ures showed a 46 per cent av­er­age in­crease for the re­gion’s homes, with the av­er­age dol­lar value of a res­i­den­tial prop­erty now $1,076,000.

But Har­courts Cooper & Co man­ag­ing di­rec­tor Mar­tin Cooper said those num­bers, as well as those in the coun­cil’s value break­down by sub­urb, should be taken with a grain of salt.

‘‘Coun­cil’s val­u­a­tion fig­ures can be very frus­trat­ing to deal with for buy­ers and sellers be­cause ev­ery prop­erty is unique in its lo­ca­tion, as­pect, views and qual­ity of fit-out, so do­ing group val­u­a­tions of streets or sub­urbs is not very ac­cu­rate,’’ Cooper said.

‘‘We find some buy­ers will want to know the RV [Rate­able Value] as a guide to value but, in most cases, the buyer will buy the home be­cause it feels right for them, not be­cause of a high or lower RV.’’

The coun­cil will use the newly re­leased val­ues to re­assess how much each home owner will con­trib­ute in rates for the 2018 to 2019 year.

Coun­cil head of rates Deb­bie Acott said the ex­act im­pact of the reval­u­a­tion would be re­vealed once the coun­cil agreed on the new bud­get next year.

FELIC­ITY REID/STUFF

Mar­tin Cooper from Har­courts Cooper and Co says most peo­ple don’t pay much heed to coun­cil val­u­a­tions when choos­ing a home.

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