Inside the housing market: What you need to know about rates, CVs, and house prices

Rates have increased across the country this week, with some cities better off than others. Auckland Council has confirmed a 5.8 percent average residential rates increase, the same day Wellington’s council struck a 12 percent lift in rates. Meanwhile, Gisborne residents face an average 9.95% rate increase, which equates to $400 or less for 80% of homeowners. The increases have come at the same as council valuations in Auckland dropped by 9%. But, what do lower CVs mean for your rates bill? And, what does it mean in the context of the wider property market? Today on The Front Page, Opes Partners’ economist Ed McKnight is with us to bust some myths about valuations, rates, and the current state of house prices. Follow The Front Page on iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts. You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network. Host: Chelsea DanielsSound Engineer/Producer: Richard MartinProducer: Ethan SillsSee omnystudio.com/listener for privacy information.