West Auckland home values increase
Homes in Westgate have increased most in value out west, according to new council valuation data.
Residential properties in the suburb have increased 86 per cent from Auckland Council’s previous estimates in mid-2014.
The suburb is part of the Henderson-Massey Local Board area, which increased more than other boards in West Auckland.
The average change in capital value across the board area was 51pc.
In its notes to accompany the release of suburb-wide data on November 16, the council said demand for housing was strong across the local board area.
‘‘Ranui, Massey, Henderson and Glendene are seen as affordable options for first home buyers and investors.’’
Homes in the Waita¯kere Ranges Local Board area increased 44pc on average.
The area was still popular with demand for the area’s lifestyle resulting in steady growth, the council said.
Rural suburbs in the foothills of the Waita¯ kere Ranges, such as Waitarua and Oratia increased the least out west.
‘‘Major growth is still limited by the nature of the area which includes steep contours, bush clad sites and access issues, which have a strong influence on value levels and demand.’’
On average, Auckland residential property increased 46pc, and homes in the Whau Local Board were nearly on par, at 45pc.
Buyers were still looking in the Whau as it was seen as relatively affordable, the council said.
It was relatively close to downtown, had good infrastructure and the Waterview Tunnel had increased access.
‘‘This area has seen a lot of growth due to unitary plan changes, encouraging development, which in turn has lead to strong value growth over the last three years.’’ The new valuations, valid from July 1, 2017, would be used to work out how much properties should pay in rates when compared to each other.
Council valuations are also often used by buyers as a beginning indication of what a property may be worth.
All councils are required by law to revalue every property in their region every three years. In Auckland 549,000 properties were revalued this year.
The individual properties’ valuations would be available on the council’s website on November 20.