Urban land prices show general rise

Press, Volume CXI, Issue 32587, 22 April 1971, Page 26

Urban land prices show general rise

(New Zealand Press Association)

PALMERSTON NORTH, April 20.

Prices for residential or industrial sites generally had risen in the last year, said Mr R. H. Rolle, a spokesman for the Institute of Valuers, in Palmerston North today.

The prices buyers could expect to pay for sites in various parts of the country were investigated by delegates to the institute’s annual conference.

“Extremes in prices have been ignored,” he said. “For example, a house site could be obtained in a small town like Opotiki for $6OO, while in Auckland over $40,000 has been paid for a particularly desirable site.”

The range of values of residential sites was given as follows:

Whangarei, $2200 to $3750; Auckland, $3OOO to $16,000; Hamilton, $2500 to $3500; Rotorua. $2850 to $3500; Taupo, $1750 to $2250; Gisborne, $2500 to $3500; New Plymouth, $2OOO to $3500; Napier, $2250 to $3500; Hastings, $l7OO to $3750; Palmerston North, $lBOO to $4500; Wanganui, $7OO to $4000; Masterton, $l2OO to $3500; Wellington, $3OOO to $8000; Nelson, $3300 to $3700: Christchurch, $2OOO to $8500; Dunedin, $lBOO to $4000; Timaru, $2500 to $3500; Invercargill, $l5OO to $3500. “The standard adopted for industrial sites is two acres, the figure being quoted on a per acre basis,” said Mr Rolle.

“The wide variations in the same districts were created by the shape, contour and situation of the sites. It is also apparent that many of the provincial cities are making strenuous efforts to attract industry away from the larger centres, in many cases with some success.”

The range values of industrial sites was given as follows:

Whangarei, , $9OOO to $14,000; Auckland, $20,000

to $40,000; Hamilton, $5OOO to $8000; Rotorua, $lO,OOO to $20,000; Gisborne, $BOOO to $11,000; New Plymouth, $BOOO to $11,000; Napier, $5500 to $9000; Hastings, $7OOO to $10,000; Palmerston North, $BOOO to $12,000; Wanganui, $2500 to $4200; Masterton, $2OOO to $5000; Wellington, $40,000 to $100,000; Nelson, $9OOO to $15,000; Christchurch, $BOOO to $20,000; Dunedin, $15,000 to $25,000; Timaru, $4OOO to $4600; Invercargill, $lO,OOO to $16,000.