Mairangi Bay tops revaluations
Mairangi Bay is leading the North Shore in house price escalation, seeing a 52 per cent rise in home values over the past three years.
Auckland Council released new valuation figures for residential properties on November 16, revealing a 46 per cent average increase across the region since the last council valuations in 2014.
The average value of residential property in Auckland is now $1,076,000.
The Hibiscus and Bays Local Board area had value change of 42 per cent on average, though some suburbs along the East Coast Bays shoreline saw stronger gains.
Campbells Bay properties have made a 48 per cent jump in value, while Oteha, Fairview Heights and Redvale homeowners saw movement of 47 per cent.
Long Bay values went up 40 per cent, Browns Bay and Torbay homes increased 39 per cent. Okura saw the Shore’s slimmest growth margin at 32 per cent.
In the Devonport-Takapuna Local Board area, valuations rose 43 per cent. Takapuna saw the largest increase in the area at 49 per cent, followed by Milford where property values increased by 47 per cent.
Devonport and Bayswater properties had a more modest rise of 36 per cent.
The Upper Harbour Local Board area had the strongest movement on the Shore, slightly ahead of the Auckland average at 47 per cent.
That was driven largely by valuation hikes west of the Harbour, although Albany and Pinehill residential property values were up 46 and 45 per cent respectively.
Homes in the Kaipa¯ tiki Local Board area experienced the least growth in the Auckland region excluding Great Barrier Island with a 39 per cent change in value overall.
Beach Haven property values increased 37 per cent, Birkenhead’s went up 38 per cent, and Northcote led the pack with a 45 per cent change.
Council head of rates Debbie Acott said an increase in property value did not necessarily mean a corresponding increase in rates.
‘‘We won’t know the impact of this revaluation on rates until we agree our next budget in 2018.‘‘
The values are based on the price the property would have sold for on July 1, 2017.
Individual property data is available at www.aucklandcouncil.govt.nz.
Mairangi Bay has seen the largest leaps in residential home revaluations across the North Shore.