Some Land Values Up

Press, Volume CVIII, Issue 31658, 19 April 1968, Page 22

Some Land Values Up

(N.Z. Press Association) NAPIER, April 18. Many provincial cities were making strenuous efforts to attract industry away from the larger centres, Mr R. H. Rolle, of the Institute of Valuers, said in Napier today. He was commenting on the institute’s annual survey of land values, which was released in Napier today. Wide variations in industrial land values in the same districts were created by the shape, contour and situations of the sites, he said. In the survey, extreme prices for residential sites were ignored.

For example, a home site could be obtained in a small town for about $5OO, but in Auckland up to $40,000 had been paid for desirable sites. In many localities land prices were somewhat higher than 12 months ago, Mr Rolle said. The standard for an industrial site was two acres, but the figures quoted were on the basis of one acre. Industrial prices:

Auckland, *14,000 to *40,000; Hamilton, *16,000 to *20,000; Rotorua, *20,000 to *24,000; Palmerston North, *6OOO to *8000; Wellington, *20,000 to *50,000; Nelson, *6OOO to (11,000; Christchurch, *6OOO to *16,000: Dunedin, *16,000 to *24,000; Timaru, (4000 to *BOOO. With residential sites, an endeavour was made to ascertain the prices of average sections ,in various localities. Residential prices quoted were: Whangarei, *l5OO to *4000; Auckland, *2OOO to *14,000; Hamilton, ,2000 to ,5000; Rotorua, ,2200 to ,3500; Tauranga, ,2500 to ,4000; Mount Maunganui, *2OOO to ,4000. Gisborne, ,1800 to ,3000; Napier, ,1700 to ,5000; Hastings, $l7OO to *2500; New Plymouth, *lB5O to $6000: Wanganui, $l4OO to $3200: Palmerston North, $2OOO to $3000; Wellington, *2500 to $7OOO. Nelson, *2400 to ,3000: Christchurch, ,2000 to ,5000; Dunedin. $l6OO to $4500: Timaru, $l5OO to *2800; Invercargill, ,1700 to ,2500.