Property valuations released by Auckland Council on Tuesday shows an average increase in value of 34 per cent across Tāmaki Makaurau.
Auckland Council said in a statement, “the updated values reflect the likely price a property would have sold for as at 1 June 2021, and will be used to determine the share of rates for the next rating year starting 1 July 2022/2023.”
Great Barrier Island had the largest jump in value, showing an average increase of 59 per cent.
Other local board areas with the largest movements include Māngere-Ōtāhuhu, Henderson-Massey and Maungakiekie-Tāmaki.
All three of those areas have seen average increases between 41 and 49 per cent.
Those regions have also all undergone housing intensification in recent years, and Auckland Council said the change in value shows the impact of this.
Comparatively, the Waitematā area shows a much lower average increase of 15 per cent.
Chief Economist at Auckland Council, Gary Blick said “the effects of the Unitary Plan implemented in 2016 can be seen in the valuations.”
“We started to see these impacts in the 2017 revaluation but realistically the effect is showing now.
“The value increases have moved out from the city centre, which is what we would expect as housing in those areas becomes more desirable," he said.
Standalone dwellings have increased by 34 per cent, while increases for already intensified housing types like apartments (eight per cent) and flats (27 per cent) are slightly lower.
Group Treasurer John Bishop said the increases aren’t the only thing to consider: “It’s worth noting that though we are seeing the highest value increase on Aotea Great Barrier this year, it is still one of the lowest valued areas in the region at around 43 per cent of the average.”
SHARE ME