Rating values (RV) on homes in Central Hawke’s Bay have shot up by 55 per cent, on the back of a thriving property market in the district.
Every council in New Zealand must complete a revaluation of the properties within its district at least once every three years. Quotable Value (QV) has prepared this year’s revaluation and determined the average house capital value is now $345,000 and house land value is $102,700.
Mayor Alex Walker said the substantial growth in property values was not unexpected and reflected the “surge of positivity and optimism” in the district.
“The secret about Central Hawke’s Bay is out. The large amounts of growth and new residents we are experiencing across residential, commercial, industrial and rural properties, recognises that Central Hawke’s Bay is a place where families and business can thrive – which has in turn increased the value of property.
Photo: Waipukurau, in Central Hawke’s Bay. Rating values on homes in the district have increased by 55 per cent.
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Posted: 30 November 2018