Rateable values

[nicsa122]

Do these take into account things like new kitchens and bathrooms? Landscaping? I know chattels like carpets aren't included

[jimO]

i doubt it seeing as they dont inspect every house

[eri]

no

they have no idea what's inside the house

and don't really care in the 30? seconds they take to value the property for ratings purposes

if you disagree with their instant valuation for rates

they have systems in place for you to prove it should change

but used wisely

knowing the CV is still

very, very valuable

to both buyers + sellers

[nicsa122]

The banks certainly seem to treat them as gospel.

[eri]

the methodology is pretty good

and they are of course impartial

the banks have better (more current) tools, like their desktop valuations

but they have to pay to use those

whereas CV is free + available to all

(an important tool to help stop people getting ripped off)

[nicsa122]

Other than QV what desktop valuation sites would the banks use?

[eri]

A Rating Valuation is:

• only updated every three years for the purpose of your local council
• established using a mass appraisal process
• often used when buying and selling as an indicative price.

An E-Valuer is:

• an instant, online estimate of the current market value for a property
• based on recent, nearby comparable sales
• often used for establishing the current value when making an offer or wanting to sell your property.

https://www.qv.co.nz/valuations/e-valuer

https://www.qv.co.nz/valuations/choosing-a-valuation

[RollingCloud]

Only addition to the RV improvement value that is applied on an individual basis is values taken from building consents apparently. But not sure if this is across all council's.

[Maccachic]

Had ANZ based LVR a 3 year old rating valuation on my Dunedin property a few years back.

[Damap]

They don't care. They aren't trying to lend you as much as they can, that's what we want usually :-)

[Wayne]

E-valuer is still the average recent movement added to the RV.
E-valuer still can't see anything that has changed - just more up-to-date RV.