For the 2017 year I have looked at REINZ monthly comparisons of Feilding house sale prices versus rating values (as at 1 August 2016). There is an upward trend but with a large distortion in June 2017. For the first five months of 2017, the average monthly sale price was 15.37% above the 1.8.16 rating value. The average monthly increase for the last five months was 18.71%. I have excluded June and July 2017.
In dollar figures the average increase for the first five months was $43,700, against the average rating value of those sales of $292,700. This compares to the average monthly dollar figure for the last five months of 2017 of $51,300 against the average rating value of those sales of $282,000.
It doesn’t pay to get too fixated with the detail, but the clear trend shows that sale prices throughout 2017 were generally significantly above the August 2016 rating valuations, with the level of increase getting higher as the year went on.