Auckland's average property value increases by 34 percent in latest council valuations

Auckland Council's latest property valuations show a 34 percent increase in the region's average house value.

The latest figures reflect the likely price a property would have sold for on June 1 last year compared to the last council valuation in 2017.

Valuations were supposed to take place in 2020, but were delayed because of COVID.

Great Barrier recorded the biggest average increase at 59 percent while Māngere-Ōtāhuhu, Henderson-Massey and Maungakiekie-Tāmaki all saw average increases between 41 and 49 percent. 

Auckland's average property value increases by 34 percent in latest council valuations
Photo credit: Supplied

Auckland Council said besides Great Barrier, all these areas have undergone intensification in recent years, and these movements demonstrate the impact of this.

In contrast, the Waitematā area - which has a large share of apartments - had a lower average increase of 15 percent.

Auckland Council chief economist Gary Blick said prices have risen in areas away from the CBD as they've become "more desirable". 

"We started to see these impacts in the 2017 revaluation but realistically the effect is showing now," he said. 

"The value increases have moved out from the city centre, which is what we would expect as housing in those areas becomes more desirable." 

Standalone houses rose by 34 percent while apartments increased by eight percent and flats jumped by 27 percent.

"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," said group treasurer John Bishop.