Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search


New valuations for Wellington released

24 October 2006

Quotable Value releases new valuations for Wellington

Quotable Value has released its new property valuations for the capital.

The valuations are an important component in Wellington City Council’s process of setting rates for the 2007/08 financial year.

The average house price has risen 9.6 percent to $488,000, with the corresponding section value increasing 10.4 percent to $229,000.

Quotable Value Regional Manager David Nagel says despite the increased average valuation, plenty of residential properties are valued well below that figure.

Mr Nagel says valuation increases have been spread throughout all sectors of the city and all property types.

“The past 12 months has seen a general softening of the national residential market. Wellington, however, has still experienced a period of considerable growth throughout late 2005 and early 2006, mainly due to a strong local economy.”

Mr Nagel says ownership of flats and apartments has increased by 8.2 percent, with the average value now $350,000, while the average flat and apartment land value is worth $134,000, an increase of 9.5 percent on 2005 levels. “Commercial and industrial properties have also shown steady growth, with most developed properties having increased between 10 and 15 percent on 2005 levels. Pastoral and lifestyle properties have generally shown similar increases in value.”

The revaluation figures show that the total capital value of the 70,684 properties within the city is now $42.45 billion, with the land value of those properties now $19.6 billion.

Copies of the latest valuations will be mailed to every Wellington property owner/ratepayer from 2 November, showing the value of properties as at 1 September 2006. Owners can see the new values at the Council Service Centre at 101 Wakefield Street.

The new valuations will be available through the Council’s website later this year.

If an owner does not agree with their valuation, they have until 8 December 2006 to send objections to Quotable Value. Objection forms are available from the Council Service Centre, 101 Wakefield Street, or from Quotable Value.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Welcoming The Major Health Reforms

Usually “reform” of government agencies is a cost cutting exercise in disguise, but this morning’s revision of the health system looks totally different. These reforms amount to the biggest shake-up of the health system since the neo-liberal reforms of the early 1990s, which have now been completely reversed. Good. The main ingredients announced by Health Minister Andrew Little this morning have included the setting up of a new and truly independent Maori Health Authority... More>>


Government: Major Reforms Will Make Healthcare Accessible For All NZers

Putting a greater emphasis on primary healthcare and ensuring fairer access for all New Zealanders are two of the main drivers of health sector reforms announced today by Health Minister Andrew Little. “We are going to put the emphasis squarely ... More>>


Government: Border Exceptions Will See More Families Reunited

Hundreds more families who were separated by the border closure will be reunited under new border exceptions announced today, Immigration Minister Kris Faafoi said. More>>


National: Proposed Hate Speech Laws A Step Too Far

Reports of the Government’s proposed new hate speech laws go a step too far and risk sacrificing the freedoms New Zealanders enjoy, National’s Justice spokesperson Simon Bridges says. “The reforms are supposedly including protections to every ... More>>


PM Ardern And PM Morrison: Commencement Of Two-Way Quarantine-Free Travel Between Australia And New Zealand

Joint Statement by Prime Ministers Scott Morrison and Jacinda Ardern Commencement of two-way quarantine-free travel between Australia and New Zealand Today, Australia and New Zealand have fulfilled their commitment to establish two-way quarantine free ... More>>

Claire Breen: ACC’s Policy Of Not Covering Birth Injuries Is One More Sign The System Is Overdue For Reform

Claire Breen , University of Waikato Recent media coverage of women not being able to get treatment for birth injuries highlights yet another example of gender bias in healthcare in New Zealand. More>>

Police: Police Accept Findings Of IPCA Report Into Photographs Taken At Checkpoint

Police accept the findings of a report by the Independent Police Conduct Authority (IPCA) relating to photographs taken at a checkpoint in Northland. On November 16, 2019, Police set up a checkpoint down the road from a fight night event in Ruakaka ... More>>





InfoPages News Channels