RECLAMATION AREA
£345,000 Estimate By Council The cost of developing the Conference street-Salisbury street housing reclamation area was estimated at £354,000, the housing reclamation committee reported to the City Council last evening. From the estimates it appeared thait the flats would be operated economioailly, but the estimates" were based on the repayment of loan money at 34 per cent, over 35 years, and no agreement had yet been reached on the method of repayment, the committee said. It considered the loan should be spread over a longer period, say, 50 years, and some other centres favoured this proposal. The cost of acquiring the properties in the two streets and Airedale place was £46,815, against a Government valuation of £35,220, the committee said. Two years ago the average price paid for properties in Christchurch above Government valuation was 22 per cent. In the last six months there had been 890 properties sold in Christchurch, and the average price paid above Government valuation was 14.75 per cent.
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Bibliographic details
Press, Volume CII, Issue 30214, 20 August 1963, Page 15
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165RECLAMATION AREA Press, Volume CII, Issue 30214, 20 August 1963, Page 15
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