CVs no price guide: Newland

Friday 18 January 2013

Buyers in Auckland cannot expect to use CVs as a guide to house prices, commentator Olly Newland says.

By The Landlord

“I’m surprised myself at what the prices are,” he said. “Generally speaking, prices in the reasonably good suburbs are 25% to 50% above CV.”

He said even tired, rundown properties were selling for at least 20% more than their CVs. 

“CVs used to be the way you valued properties, you’d say they’re selling for 10% more, now it’s a useless number.”

Comments from our readers

No comments yet

Sign In / Register to add your comment

House Prices

No stopping Capital price rises

There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.

Commercial

Demand challenges for commercial sector

Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.

Mortgages

LVR loosening likely - ANZ

LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.

Site by PHP Developer