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Preliminary ground work

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  • Preliminary ground work

    I've mostly been lurking around for the past few months, but have a few questions to present to the panel so to speak and make the leap to post my first message on these forums

    1. I keep hearing reference to RV (registered valuation) and how people have brought below RV. Do you know what these RV values are based off? Are these based off the last known RV? or do some people conduct a registered valuation before purchasing a property?

    2. Does anyone know where I can source charts of House prices for each area (e.g suburb, city) for both NZ and Australia?

    3. Similarily does anyone know of charts showing the relationship with rental yields and house prices for each city (or at least the major centers)

    There will undoubtedly be more questions as time goes on

    Currently I've saved up some money in my bank account enough for a 10% deposit on an average Auckland City home and My parents having sold our second house (previously rented out and before that was our original home before moving closer to the city) now have spare and would like capitalise on this in some way.

    I've recently landed my first job after graduating and am continuing to save, but as of yet, haven't consulted my bank regarding the amount they are willing to let me borrow at this stage, but will probably do so in the next year or so.

    I'm continuing to read around on real estate, and have begun to attend some open homes in my area with my father. Admittedly I am suspecting that I am already late to the party and it could be 3-7 years before we see another boom like this, but ofcourse it doesn't hurt to do some intial investigative ground work first.

    Thanks for any pointers

  • #2
    Hi Pacific_Dragon

    Welcome to the forums.

    The New Zealand property magazine has list of rental values in various areas as well as average house prices in different areas as well. There is no graphs showing direct comparison of rent vs price, but you can calculate that yourself.

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    • #3
      Also take a look at the tenancy services site



      which records rental prices from bonds received for all areas of NZ.
      handmade art for kids rooms

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      • #4
        Re: Preliminary ground work

        Hi Pacific_Dragon,

        A warm welcome to PT.

        1. I keep hearing reference to RV (registered valuation) and how people have brought below RV. Do you know what these RV values are based off? Are these based off the last known RV? or do some people conduct a registered valuation before purchasing a property?
        According to my experience dealing with several valuers, when doing a registered valuation, they generally look at comparable sales in the area in recent months, the street, the site, the house and its inside. Also, the currett market situation is considered.

        2. Does anyone know where I can source charts of House prices for each area (e.g suburb, city) for both NZ and Australia?
        Try Hybrid group. Keiran is an active member on this forum so you can PM him..

        3. Similarily does anyone know of charts showing the relationship with rental yields and house prices for each city (or at least the major centers)
        Not sure if this information helps. There is a house price and rent chart (1991 to 2005) from the Weekly Overview written by Tony Alexander ([email protected]) on April 21 on the www.bnz.co.nz site. You can try and contact him by email and subscribe to his weekly overview (free).

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