Quotable Value costing vendors out of market

House vendors using Quotable Value to set their selling price are being warned they risk costing themselves out of the deflated market.

Real estate insiders say homes are selling for tens of thousands of dollars below their QV rating - raising the possibility of long waits for sellers unprepared to compromise.

"The situation is that QV are using out of date sales to arrive at a market worth," said David Lugton, of Hamilton firm Lugton's Real Estate.

It is computer-generated so may not be reliable. You have to treat the moving market with caution."

To read the full NZ Herald article click here

Posted: 17 Nov 2008

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