Waimairi Sections Rising In Value

Press, Volume CIV, Issue 30763, 29 May 1965, Page 16

Waimairi Sections Rising In Value

More than 800 sections were used for new houses and flats in the year ended March 31, yet in the same period, only 661 residential sections were provided in sub-divisions, said the annual report presented to the Waimairi County Council.

If this trend were not changed, sections in the county would soon increase in value to such an extent that prices would go above the average or group building range.

Of recent years, the report continued, the county had benefited from extensive Government sub-divisions, hundreds of sections being made available. The last of these were to be sold this year, and two blocks, of more than 100 acres each, were held for housing, but were outside the “urban fence.”

So that it could plan ahead, the council should have an indication as to land that would be brought into the üban area in the near future to help it extend water mains, reading and reserves. “Properties in the county are now being revalued, and in view of the substantial rise in the price of sections in the county, it can be expected that the unimproved value of property will be substantially increased,” the report said. In the year to March 31, the council issued 1954 building permits, for work worth £4,226,226. Of these, 798 were for new houses and fiats, totalling 892 residential units. These figures did not include any Government building, but the council had established that university buildings were not exempt from the council’s building bylaws.

The value of building permits was the highest recorded, exceeding last year’s total by £1,265.633. The figures included the new university students’ union building and a hall of residence.