Property

CVs no price guide: Newland

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

Friday, January 18th 2013

“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.”

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