Auckland Council’s latest property valuations released today show significant movements across the region, with an average value increase of 34 per cent.
The updated values reflect the likely price a property would have sold for as at June 1, 2021 and will be used to determine the share of rates for the next rating year starting July 1, 2022/2023.
The local board with the largest increase in this revaluation is Aotea Great Barrier, showing a 59 per cent average increase.
The other local board areas with the largest movements are in Māngere-Ōtāhuhu, Henderson-Massey and Maungakiekie-Tāmaki, all of which have seen average increases between 41 and 49 per cent.
These areas have all undergone intensification in recent years and these movements demonstrate the impact of this.
In comparison, the Waitematā area, which has a large share of apartments, has a lower average increase – 15 per cent.
Chief economist at Auckland Council, Gary Blick, says the effects of the Unitary Plan implemented in 2016 can be seen in the valuations.
“We started to see these impacts in the 2017 revaluation but realistically the effect is showing now. The value increases have moved out from the city centre, which is what we would expect as housing in those areas becomes more desirable.”
Standalone dwellings have increased by 34 per cent whilst increases for already intensified housing types like apartments (8 per cent) and flats (27 per cent) are slightly lower.
