In Auckland this year homes have sold, on average, at a price 1.4 times greater than the capital valuation - at least four sold for more than double. Homes.co.nz data given to the Herald showed the top four properties with the biggest margin of difference all sold for more than double their valuation. Otahuhu saw the biggest margin, with 20 properties sold at an average of 1.65 times their CV. Papakura, Mangere East and Papatoetoe followed closely with between 21 and 53 properties sold for an average of 1.64 times the CV. Robertson said the fact the property went for more than double the CV was "not surprising", given its location and quality architecture.

Source: New Zealand Herald April 20, 2017 05:15 UTC