Valuation tumble shock for owner

Mission Bay. Photo / Greg Bowker

A Mission Bay homeowner was shocked to get her new house valuation and find it about $200,000 less than she expected.

Judith Pohn said her Prebble Place had a $690,000 valuation three years ago and is on the market for $734,000.

But the valuation that arrived on Thursday put it at $550,000.

She is upset because she says she wanted a higher valuation to achieve the asking price. She is worried buyers will want to pay much less after they see the new valuation.

The house has had two heat pumps installed since the last valuation and although Ms Pohn would like a lower rates bill, her main wish is for a realistic market valuation.

"It's obvious there has been a mistake and the council told me to put in writing my objections or call an 0800 number," she said.

I spoke to the team leader there and they said I had to log the objection which I have already done."

An Auckland Council spokesman said people disappointed with valuations should lodge a formal objection. Homeowners have until December 16 to make any grievances known to the council.

The entire Auckland area has been revalued and notices have been sent to homeowners.

This month, the council revealed the preliminary findings for the exercise, which showed huge rises in the worth of houses in inner-city suburbs.

Grey Lynn and Westmere had the biggest increases, with an 18 per cent rise in property values, followed by Pt Chevalier, Western Springs, Kingsland and Sandringham up 13 per cent, Mt Eden and Epsom up 10 per cent, Ponsonby and Freemans Bay up 9 per cent, Mt Roskill up 8 per cent and One Tree Hill, Greenlane, Onehunga, Oranga, Penrose, Three Kings and Royal Oak up 7 per cent.

In all 516,000 houses were revalued.