Are related-party transactions included in the HomesEstimates calculations?
No. The HomesEstimate is intended to provide an estimate of the price that a home would fetch if sold in a full-value, arms-length sale (e.g. the sale isn't for partial ownership of the property or between family members).
This means that when related-party transactions for a property have been recorded by the council, we will show these transactions on homes.co.nz for that property, but ignore it for the purposes of estimating HomesEstimates in the area.
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Are mortgagee sales included in the HomesEstimate calculations?
Yes. These transactions are still considered to be a reasonable estimate for the market value of properties in the area and will be included.
How often are the HomesEstimates updated?
We aim to update the HomesEstimates for all homes fortnightly.
Does homes.co.nz delete HomesEstimates?
We do not delete HomesEstimates. We believe that making these value estimates available for everyone to access makes the property market in New Zealand work better and more transparent.
What are the various Council sales types?
According to Local Government (Rating) Act 2002 all sales transactions needs to be notified to the relevant Territorial Authority (Local Council) as these sales records form part of the next Rating Valuation assessment. Also note that the sale data ...
How accurate is the HomesEstimate overall?
The HomesEstimate's accuracy depends on the availability and accuracy of council and sales data in an area. The accuracy percentages are calculated by comparing our HomesEstimates to recent sales in the area. An up-to-date accuracy estimate for the ...