It’s always been a numbers game


The new Rateable Values provided by Quotable Value Ltd to the Queenstown Lakes District Council as expected have drawn comment from buyers and sellers alike. As Fernhill units are a popular property of choice for first home buyers and landlord investors the table below shares compares the sell price against the old and new R.V’s. A point of note is most of these sales were closed before the new Rateable Values were in the public arena and it will be interesting to track changes in another six months as some buyers potentially leverage and use new R.V’ s to drive vendors down on price to close sales.

Road Name Sale Price R.V. Old New R.V. Beds
Fernhill Rd 162000 165000 160000 1
Fernhill Rd 265000 295000 275000 2
Watts Rd 277500 305000 270000 3
Fernhill Rd 302500 300000 280000 2
Mackinnon Tce 305000 340000 300000 2
Richards Park Lane 313500 365000 305000 2
Fernhill Rd 334000 440000 385000 3
Fernhill Rd 343000 420000 360000 3
Mackinnon Tce 350000 370000 345000 2
Mackinnon Tce 350000 370000 345000 2
McKinnon Tce 350000 405000 355000 3
Arawata Tce 365000 370000 355000 3
Sainsbury Rd 380000 415000 385000 3
Mckerrow Pl 415000 420000 380000 3
Mckerrow Pl 418500 510000 450000 4
Greenstone Pl 570000 625000 550000 3

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