19 Jul 2022
RONGOTAI INVESTMENTS LTD and RONGOTAI ESTATES LTD v WELLINGTON CITY COUNCIL and ORS [2022] NZHC 1664 [Mathematical calculation issue]
- Citation
- [2022] NZHC 1664
- Court
- High Court
The sales comparison approach as used (simple additive/subtractive percentage adjustments) is an accepted valuation methodology that relies on valuer judgement and is not a mathematical error; the 'backing-out' multiplication/division technique is for residual/development calculations and is not required here; therefore no methodological error occurred and the appeal is dismissed.