The suburbs on the fringe of Aucklandís CBD are among the top performing property markets based on the latest Auckland Council survey of house values.
Covering 525,000 properties, the report shows values have jumped by 33 per cent on average across the city since property valuations were last conducted in 2011.
One Tree Hill, Royal Oak, Onehunga, Penrose, Mt Wellington, Panmure and Glen Innes recorded the biggest jump, with house values up by 44 per cent.
Average movements within the remaining local boards range between 22% and 44%, with the larger movements generally due to proximity to central Auckland, with lower increases found in outer suburban and rural areas.
Property owners will get their new valuation notices in the mail in November. Individual values will vary by type of property, its quality and condition, zoning, views and other factors. The new values will be used to determine rates for the three year period beginning next year, 1 July 2015.
Used with permission from http://mortgagesupply.co.nz/fringe-suburbs-show-largest-rise-house-values/
(August 27, 2014)