A Web-based database containing the estimated value of every house in New Zealand is being made easier to use.
Infobase, operated by Quotable Value New Zealand, has operated since October last year, but is undergoing
redevelopment to make it look and feel better. The job should be complete by mid-July.
QV Online general manager Nigel Jeffreys says the Web site www.quotable.co.nz contains information based on QVNZ existing records, which are constantly updated. The service is charged for and users can subscribe or use a credit card for casual use.
The upgrade comes as a British database is now predicting future house prices for each type of property in a certain area for up to five years.
The free site, www.propertyprices.co.uk, uses house price information from Britain's Land Registry, with information on every postal sector in England and Wales, to calculate the projections.
House prices in England & Wales now average £99,295 and are growing by 17% a year, with huge regional variations.
To operate the site, you enter the postcode and property type (semi, detached, flat, etc) which should be enough to give a calculation. But keying in more information about property and the year of purchase should result in a more accurate forecast.
However, some housing experts warn the predictions are "a bit of a gimmick" as it involves basing general predictions on individual properties.