Heathcote’s value up

Press, 22 October 1980, Page 4

Heathcote’s value up

Some rural land values in Heathcote County have risen 50 per cent in the latest revision by the- Valuation Department.- - • — The total capital value of the county has been increased 18.7 per cent, from $137.12 million in July, 1975, to $162.89 million. In line with a ..trend throughout New Zealand, rural values had generally risen more than residential values, ■ a Christchurch district : valuer (Mr A. McSkimming) has said. Residential properties with higher existing values ten-

ded to rise, more than lowerpriced properties, Mr McSkimming said. Individual valuations in Cashmere had increased as much as 18 per cent, while in Heathcote Valley the rises had been as low as 2.5 per cent. Mr McSkimming said the market for better quality housing was good and prices had been rising since March this year.- ’

The new; valuations were based on an analysis of actual sales of comparable properties in the locality, he said.

Although most, property values had increased, the

full .effect of building oosff rises had not yet been fully I reflected in the market. ' c .1 i The county’s total im-' proved value has been in-1; creased from $80.57 million to $105,44 million. The values were revised as at July 1 and all property owners should receive notification by the end of this 1 week. ‘ ■> , The district valuation rollwould be available for inspection at the department’s office and at the county! council offices until November 14, Mr McSkimming said.