2022 SELL PRICE vs 2021 CV

A question we are often asked is "How does the 2021 CV (Capital Value) differ from actual market value today?"

Whilst there is never an exact correlation, we discussed such a comparison at our weekly branch meeting earlier this week.

Some recent sales (over the last 10 weeks or so) of 56 properties in Grey Lynn, Westmere, Pt Chevalier, Ponsonby and other nearby suburbs were looked at and their sell price was compared with their 2021 CV.

Whilst this is not in any way a scientific approach, some 65% of sales we looked at sold UNDER their 2021 CV. The median sale achieved a price 8% under its 2021 CV.

We need to stress that this was by no means an official survey and that the market is constantly in a state of flux, however it did prove to be quite an interesting observation.

For an honest and up-to-date review of the value of your specific property, please be in touch.