Even sought-after parts of central Auckland are now selling below CV. Properties in about 50 parts of Auckland are now worth less than their CVs, new data from Homes.co.nz shows. St Johns had the lowest price-to-CV ratio, with a median value of 94 per cent of median CV. "Approximately 50 Auckland suburbs are valued less than their current CVs, highlighting how the capital valuation for a property can become out-of-date," he said. Christchurch was in a similar situation – Avonside, Upper Riccarton, Dallington and Avonhead were among the suburbs with properties worth less than CV, as a median value.

Source: Stuff October 08, 2018 16:01 UTC