SELLING AN AUCKLAND HOUSE ZONED FOR DEVELOPMENT
New Auckland zoning laws should be taken into consideration when selling a house in Auckland due to the higher prices being paid by developers for properties which are now zoned for development.
Many Auckland home owners have experienced significant valuation increases in their family homes since the Unitary Plan became operative on 15 November 2016.
The Unitary Plan rezoned a significant portion of Auckland and changed some houses from a single house zone to zoning allowing intensification for town housing and apartment developments.
The new zones include such categories as Terrace Housing and Apartments (THAB), Mixed Housing – Urban, Town Centre and Mixed Housing Suburban to name a few.
This new zoning was supported by local governments to help stem the housing shortage still being experienced across Auckland today.
If your house is an investment property or rental, the new bright line test of 10 years may apply.
It is crucial to engage a real estate agent who will market your property with development zones in mind. Get in touch now.
IS MY PROPERTY SUITABLE FOR REDEVELOPMENT?
The question all home or investment property owners should be asking before selling is, ‘is my property suitable for redevelopment and does my zoning allow for this?’
By contacting Agent Finder NZ, we can very quickly answer this question for you and make sure you are pointed towards a property agent who is experienced in dealing with these types of properties.
We have many examples where home owners have achieved hundreds of thousands of dollars more for their family homes by marketing them for development rather than using generic advertising methods and agents who do not understand the real value of these properties due to the specialist nature of the expertise involved.
THOUSANDS OF DOLLARS ADDED TO POTENTIAL PRICE
A good example of this was when a client came to Agent Finder NZ in late 2020 with a family home situated in one of Auckland's bays that they had owned for over 25 years. With the family now grown up it was time for the home to go onto the market.
Agent Finder NZ advised them that although the house itself was stunning and very saleable, the highest value for the property was in the land itself due to the zoning. The owners instructed a property development agent recommended by Agent Finder who advertised the property as a stunning family home with expansive sea views as well as an iconic land development site.
At the end of the campaign the difference between offers and value was over $500,000 due to interest from developers. If Agent Finder had not recognised the development potential the property would have been sold to a home owner and the existing vendor would have missed out on the additional half a million dollars.
Furthermore, it is not just zoning that Agent Finder NZ considers when looking at development sites, it is also the contour, demographics, shape of the site and access amongst other aspects. It takes you no more than a phone call to learn the potential of your property - and Agent Finder are keen to help.
POINT CHEVALIER DECEASED ESTATE CASE STUDY
This 1960s style brick home in average condition was on 936sqm of land zoned Residential Mixed Housing - Suburban allowing for townhouse developments up to two levels.
It was marketed in October 2020 for four weeks and received huge interest both locally and across the country, with some international interest as well.
Get in touch - we're here to help
Article updated April 6, 2021