PRICES OF SECTIONS

Press, Volume CIII, Issue 30534, 1 September 1964, Page 12

PRICES OF SECTIONS

Further Cost Comparison

The reserve contribuiton levied in Christchurch was generally about two and a half times the maximum required in any of the Other three main centres, said Mr M. W. Simes, president of the Can-terbury-Westland branch of the Real Estate Institute yesterday. He was elaborating on his annual report which said that there was an average extra cost of £9O on a Christchurch section compared with the costs in the other main centres. Reserve contribution charges made by county councils were fixed by the Counties’ Amendment Act. and the City Council made the same charges on residential land, said the City Engineer (Mr P. G. Scoular). There was a lower charge on commercial and industrial land. To Mr- Simes’s comment that Christchurch would continue to lose industry to the north while it levied its reserve contributions, Mr Secular said a sub-committee had been set up by the council to discuss the availability of industrial land with representatives of the institute. The council had no way of finding out what land was available for sale and hoped the institute would be able to assist.

Mr Simes gave examples of reserve contributions yesterday as follows:—20-perch section, £l2OO value, Christchurch £240; Auckland and Dunedin, £6O: Wellington, £3O; 30-perch section, £BOO value, Christchurch, £106: Auckland and'Dunedin, £4O: Wellington, £2O; 30-perch section, valued at £l5OO, Christchurch, £200; Auckland and Dunedin, £75; Wellington, £37.