Property values in Malvern double

Press, 2 November 1984, Page 33

Property values in Malvern double

Property values in Malvern County have more than doubled in the last five years, according to Valuation Department statistics. The capital value in the county was set at $409,213,780 by the department’s valuation in July. The capital value in 1979 was $164,104,900, said the district valuer, Mr D. B. Coe.

The land value during the five years had risen from $108,154,160 to $236,735,260 and the value of improvements from $55,950,740 to $172,478,520.

Notices showing the new values of individual properties were being posted to property owners in the county. Mr Coe said land prices rose dramatically during the five years but the market was now quiet.

The demand for different land types and uses in the county had varied and property values had also increased by differing amounts, he said. The highest increase was in the Tawera riding which had had a lot of residential and farming development. Darfield township had the lowest rise in value.

Farming development in the five years had been steady with an emphasis on

intensifying land use through irrigation and by subdivision and pasture establishment in the more extensively farmed localities, said Mr Coe. Residential development in the county had also been steady. The most noticeable development was Castle Hill Village.

Increased demand for property in the holiday home localities was reflected in the new values, with those areas taking a

larger. increase than the more permanently occupied townships such as Darfield. The valuation roll will be open for inspection at the council office and the department’s office in the State Insurance Building in Christchurch until November 30. , ■ Valuers will be at the council office on Wednes-

day, November 14, from 9.30 a.m. to 3.30 p.m. to meet property owners who want to discuss their new values, said Mr Cole.