SELLING AN AUCKLAND HOUSE ZONED FOR DEVELOPMENT
Auckland zoning rules 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. However, if your home is not suitable for development you may prefer to request a property appraisal from a residential real estate agent first or perhaps one of each so you can compare.
Whatever your preference, we are here to help by vetting and establishing the most competent property agents in the industry, specific to your property.
It is crucial to engage a real estate agent who will market your property in a way that optimises your sale price. Request a list of vetted agents to compare first.
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 specialist 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.
Currently property investors are still very active and searching for suitable properties to invest in.
THOUSANDS OF DOLLARS ADDED TO POTENTIAL PRICE
A good example of this was when a client came to Agent Finder NZ 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 saleable, the highest value for the property was in the land itself due to the zoning. The owners instructed a property development agent vetted by Agent Finder NZ 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 NZ 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, underground utilities, 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 NZ is keen to help - all at no cost. Call 0800 789 532 to discuss or get your zone.
SELLING A HOUSE IN POINT CHEVALIER A GOOD 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 for four weeks and received huge interest both locally and across the country, with some international interest as well.
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Article updated 26 April 2021 by Trish Willis | Member of Property Institute of NZ (IPAC)
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- Best Estate Agent Vetting Service 2018
- Best Property Advice Hub New Zealand 2021