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  1. #1
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    3,936

    Default New Qv value has an error.

    The latest QV valuations for parts of Auckland are now out.

    I logged on to QV website to check one out fully. It seems there is an error in the data on one of my properties.

    The building size is substantially wrong and should be much bigger. This building was built new only a few years ago and has not been modified since.

    I assume they get data from council records for things such as this.

    What should I do?

    Is there any Pro's or Con's in getting the error corrected?

    Will I pay more rates etc?

  2. #2
    Join Date
    Oct 2008
    Location
    Auckland/Melbourne/ whereever the money is
    Posts
    1,382

    Default

    Pros:
    Possibly higher valuation- better for refinance or resale.
    Better security value as far as bank is concerned (assuming you want to buy more property or borrow against what you have) although they are asking for updated Reg Vals these days, so QV
    is not necessarily of much use to you

    cons:
    possible higher rates

  3. #3

    Default

    more cons than pros I reckon unless you are wanting to sell, then maybe get the error rectified.

    QV can not do any site visits - we have two properties both on similar sized sections 800 sq m in the same area. The lesser quality property is valued up more - the street is worse, the property is a lot worse yet QV value it higher . I am not going to say anything as i reckon my rates will rise - on the other property.

  4. #4
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    3,936

    Default

    Does anyone actually know if the Gv affects your rates or the manukau water bill you get?

  5. #5
    Join Date
    Jun 2004
    Posts
    10,479

    Default

    Quote Originally Posted by whitt View Post
    Does anyone actually know if the Gv affects your rates or the manukau water bill you get?
    A change in GV will affect your rates (when they are reset) if yours has changed up or down reletive to others in the area

  6. #6
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    3,936

    Default

    I just checked out a rates bill. It seems the only compenent which affected is the annual value. This is the figure which QV estimate you could rent proeprty for. Currently they have this property at $31,000 and I suspect with research this is unlikely to chaneg much if I get error corrected.

    Now to find a water bill and see how that is calculated.

  7. #7
    Join Date
    Jul 2005
    Location
    Brisbane
    Posts
    1,309

    Default

    Very interesting article on "Close Up" on TV one last night on the setting of the GV's by QV.
    Basically saying that they could no longer be relied upon as a guide to the true value of your home and the majority were incorrect.
    It's about time this subject was brought out into the open. The whole system is a joke. Link to the article and hopefully the video, here. It's worth a look.http://tvnz.co.nz/view/page/465467/2369318
    Last edited by Heg; 10-12-2008 at 08:43 AM. Reason: added the link
    Jo Birch
    Looking for someone to manage your next project or event? Then call now!
    +61 450 148 678

  8. #8
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    3,936

    Default

    Thanks was an interesting watch

  9. #9
    Join Date
    Sep 2008
    Posts
    7,658

    Default

    the interviewer looks to be a right jerk

    and i know it's his "job" to interrupt, provoke argument, and complain ceaselessly without offering workable solutions all for the sake of the "story"

    but it always seems short sighted as joe-blogs then thinks that that's the way to communicate with government employees

    so off they toddle to their council offices, benefit providers, hospitals, schools and police stations and launch into their own little tirades

    with 2 results

    1. their own cases are irrepably damaged by their childish foot stamping
    2. many, many good people never consider public service jobs where they are expected to take such crap
    have you defeated them?
    your demons

  10. #10

    Default

    Quote Originally Posted by whitt View Post
    Does anyone actually know if the Gv affects your rates or the manukau water bill you get?

    Hi,

    I can't speak for rates, but as Manukau Water Communications Manager I can tell you that the valuation will not effect your water bill in Manukau.

    Manukau Water Limited's water price is based on the volume of water used, while the wastewater charge is a fixed price for all residential customers. There is no fixed charge for water and no minimum, so the less water that is used, the less is paid.

    Incidentally, the residential water charged can be passed onto tenants in a residential property - so long as this is agreed to in their tenancy agreement. However, my understanding from Residential Tenancies is that the wastewater charge cannot be passed on directly to residentail tenants as it is a fixed charge. Therefore the rent needs to allow for this cost.

    By the way, the water and wastewater charges in Manukau are, on average, the lowest in the Auckland region. I know some people begridge having to pay for these services but please be assured that as a company we do try and mimumise the costs. Manukau Water doesn't operate for the purpose of making a profit and we don't pay a dividend, so our revenue goes directly toward supplying our service and/or planning for future water and wastewater infrastructure needs.

    Regards, Mark


 

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