Exodus on hold: Survey reveals more investors plan to buy than sell stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
Auckland homeowners to get bombshell property valuations
(Photo / NZ Herald) Wed, 19 May 2021, 9:17AM
Auckland homeowners can expect a bombshell rise in their council valuations when city-wide revaluations are released later this year, a property lawyer says.
City house prices have soared 35 per cent since the last valuations in 2017, with Auckland Council revealing it now expects to issue new valuations – officially known as capital values or CVs – this October.
Mum-and-dad homeowners, retirees and property investors will all be keeping a close eye on the new valuations as it can affect how much they pay in council rates, and how much they can borrow from banks.
If house prices fall, will the sky fall too?
14 May, 2021 05:00 PM
12 minutes to read
What would happen if house prices fell? Photo / Sylvie Whinray House prices were supposed to fall last year. Everybody said they would: almost all the economists and property people, the politicians and the business writers. Even while prices were rising faster than they had for decades, the commentators kept on saying it would soon come to an end.
For a moment, they were almost right. In May, the median house price fell 8.8 per cent: the largest fall in a single month for decades. But then prices surged again. By September they were rushing past the April peak and they just didn t stop.