Christchurch's independent
property valuation consultancy:
registered, residential specialists

Reliance on Rating Valuations dangerous in current market!

During the property boom Rating Valuations (RVs), or also referred to as council valuations or government valuations, were used widely by banks and lending institutions as a number to lend against.  In a bullish market RVs are a relatively safe lending guide.

Today they are meaningless.

Financial decisions that give any real weight to current rating values are high risk!

Compared to real values, Christchurch's latest RVs are a jumble of inconsistencies.  There is the odd time they might come close to the mark, but it's random.  We commonly see discrepancies anywhere from 10s to 100s of thousands of dollar differences to a property's current market value.

Plus, having to be back-dated to August 2007, the current RVs have encountred the further problem of their on-mass computerised calculation taking place right at the turn in the market.

It should be clearly understood that RVs have nothing to do with current market values.  Rating Valuations are simply that  - a formulated calculation tool for the apportionment of Council rates.

Click here to find YOUR Christchurch City Council Rating Value:

EXAMPLES OF VALUE % DIFFERENCES:
Randomly selected properties:
 Rating Value Recent Sale Price

%

difference
504 Ilam Road $569,000 $462,000 -19%
38 Ramanaha Road $473,000 $361,000 -24%
33 Linkwater Way $519,000 $432,000 -17%
33 Exeter Street $365,000 $312,500 -15%
30 Voelas Street $409,000 $340,000 -17%
152 Kingford Street $320,000 $278,000 -14%
21 Linkwater Way $502,000 $448,000 -11%
92 Aorangi Road $554,000 $395,000 -29%
80 Aorangi Road $530,000 $725,000 +36%
VALUATION SOLUTIONS compared to RATINGS & DESKTOP VALUES:
  Valuation Solutions tailored report Ratings/Council/Govt valuation or 'online' products
Site inspection: Onsite and in person - interior & exterior - for EVERY valuation undertaken None
Calculations: Real-time, adapted, custom-made, based on coal-face knowledge Dated, formulaic, prescribed
Customisation: Based on property specifics - an endless amount of variables Based on area "averages"
Market considerations: Real-time moving market dynamics Based on quarterly / monthly area "averages"
Meeting bank requirements: Yes - the legal report format accepted by all lenders Rarely in today's new risk adverse lending environment
Accuracy: "Value range" targets 5% above or below actual sale value Dubious, problematic - endless evidence of RVs being $10,000-$100,000s higher or lower than current market

valuation reports and services:

 

buy online:

Currently available at our online shop:

Don't rely on 'neighbourhood whispers' or doctored agent print-outs...

For just $22.95 find out for yourself what property around the area is really selling for!

TESTIMONIAL

Bevan Fleming did a valuation assessment of my house prior to putting it on the market.

His valuation was spot on.

He gave a range of suggested asking prices and his final realistic selling price was EXACTLY what I received.

He took the time to search thoroughly for comparison properties and his report was set out logically and worded objectively. I think he read the market very well.

Bevan was unfailingly courteous and helpful in our dealings and in comparison with one of the long established companies, he proved to be outstanding in accuracy, integrity, service and value for money.

I recommend Bevan and 'valuation Solutions' to any one wanting a first class valuation service.

Ms H. S. Dodge  -  Jan 2009