Big rise in land prices

Press, Volume CXIII, Issue 33141, 3 February 1973, Page 18

Big rise in land prices

The average price for resi1. dential sections in Paparua »' County has increased 43.26 h per cent during the last five! h years. In 1967, the average price—based on 147 sales— I is was $1921, and the average! a price last year—based on 182 f, sales—was $3386. In 1967, 116 houses: o changed hands at an average ■siof $7271, but last year the ). 'average price for 330 houses :as $11,856. y The figures are contained! e in the report of the revision! it of the county by the urban! valuer for the Valuation De-! n partment, Mr G. E. Burns,! >1 who said that the continuing! j steady and healthy developir’ment of the Christchurch! e metropolitan area had in-' fluenced prices. The prices the public paid t . set the basis adopted by the f t department, and those pro)t perties situated in the more H favoured localities such as tj Upper Riccarton, had shown )r a greater increase in value s than elsewhere. Halswell, since its last re-! „ valuation in 1965, had be- * come increasingly popular. The manager of the Valua-: ■ s tion Department (Mr V. R. q Aitken) said the latest „ values for Paparua repre--8 sen ted the Government’s! v estimate of worth at July 1 ' r 1972. not January or I , r February, 1973. i