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Clutha land value up 382 percent
26 November 2005
By JOSEPH BEAUMONT
Clutha's residential land value had jumped 382 percent and capital value 118 percent in the latest revaluation, a Clutha District Council corporate services committee meeting heard on Thursday.
In 2002 the average residential land value was $57,300 and in 2005 it jumped to $276,000, Quotable Value New Zealand's Brendon Bodger, of Christchurch, said.
Also leaping up the scale was the average house value, with the biggest change in Balclutha – now at $151,000 compared with $79,500 three years ago.
While rural land value had gone up by an average of 41 percent, from $1.68 million to $2.37 million, lifestyle properties had shot up from $36,600 to $102,000, or 179 percent.
Rural capital value had increased by 37 percent, from $2.16 million to $2.97 million.
Overall, the increase in land value across the district was 55 percent and capital value 48 percent.
"It's pretty good news," Mr Bodger said.
"The urban area is honking along in comparison to rural, but rural's still pretty good."
Forestry and mining land value had performed the least well, with an average increase of 23 percent.
Individual notices were posted this week to Clutha property owners, who have until December 30 to lodge objections.
26 November 2005
By JOSEPH BEAUMONT
Clutha's residential land value had jumped 382 percent and capital value 118 percent in the latest revaluation, a Clutha District Council corporate services committee meeting heard on Thursday.
In 2002 the average residential land value was $57,300 and in 2005 it jumped to $276,000, Quotable Value New Zealand's Brendon Bodger, of Christchurch, said.
Also leaping up the scale was the average house value, with the biggest change in Balclutha – now at $151,000 compared with $79,500 three years ago.
While rural land value had gone up by an average of 41 percent, from $1.68 million to $2.37 million, lifestyle properties had shot up from $36,600 to $102,000, or 179 percent.
Rural capital value had increased by 37 percent, from $2.16 million to $2.97 million.
Overall, the increase in land value across the district was 55 percent and capital value 48 percent.
"It's pretty good news," Mr Bodger said.
"The urban area is honking along in comparison to rural, but rural's still pretty good."
Forestry and mining land value had performed the least well, with an average increase of 23 percent.
Individual notices were posted this week to Clutha property owners, who have until December 30 to lodge objections.
