OneRoof Historical Sales

OneRoof displays historical sales for each residential property in NZ. The original source of the sales are council records. By law, each council is required to capture sales information. This data can then be used in the ratings valuation process that occurs every 3 years. Under guidance from LINZ's Valuer-General, each sale is classified to ensure that the ratings valuation process uses only relevant sales.

To help consumers, OneRoof has tagged each historical sale with an abridged classification as follows:

'S11' sale definition: This is a sale where a freehold property has been sold in a single arm's length transaction (market transaction). The transaction price will broadly be relative to the properties ratings valuation (CV), once market conditions are factored in, and the property's characteristics are like those recorded by the council.

'S12' sale definition: This is like an S11 sale in which a freehold property has been sold in a single arm's length transaction. However, a significant variation has been observed in either the transaction price compared to ratings value (CV) even after factoring in market changes, and/or the property's characteristics differ from council records. It is common for sales with this classification to be reviewed prior to the next council ratings valuation and potentially reclassified to either an S11 or S13 (non-arm's length classification - Note for simplicity, OneRoof groups S13 sales with others in a category called ‘Other’, see below).

'Other' sale definition: The classification encompasses sales transactions with one or more of the following attributes:

• Sale of part of a property

• Multiple property sales under a single transaction.

• Leasehold sales

• Non-market sales:

• sales to family members or related parties including companies and trusts

• sales to adjoining owners

• sales with prices well below expectations when compared to local market sales

• OneRoof does not display transaction prices for sales classed as ‘Other’.

• Notes: There can be delays between when a property is sold by the agent, and when the sale is recorded by the council and displayed on OneRoof.

• Currently, OneRoof does not display real-estate agent sourced sales in the 'Property History' section.