Akaroa land value rises dramatically

Press, 26 August 1986, Page 11

Akaroa land value rises dramatically

Akaroa township’s total land value has increased dramatically to $32 million in this year’s revision of valuations in Akaroa County by the Valuation Department.

This was almost four times the total land value of $9.7 million when the rates were struck in May, said the County Clerk, Mr Lyn Graham. Although the value of the land had increased, this did not necessarily mean the rates would increase next yeaar by the same proportion, said Mr Graham.

“If a person’s property has increased in rateable value greater than the average increase for the whole county, he will pay more rates based on the same amount of money budgeted for this year,” he said. “Those below the average value of the increase will pay less.” Akaroa County’s capital

values had increased 65 per cent since 1981, according to figures given by the department. Values in the county were last revised in July, 1981, when the total capital value was $103.4 million, compared with the new revised capital value of $172 million at July.

In the same period, the land value of the county has increased from $57.6 million to $88.2 million, while the value of the improvements has moved from $46.7 million to $83.8 million.

The figures showed the average dwelling is now valued at $72,400. The range in vacant residential section prices was between $7OOO and $55,000. Akaroa’s high land valuation was typical of holiay and resort areas, which seemed to be the only places where property was increasing in

value, said Mr Graham. There seemed to be a swing away from sales of farms to an increase in the number of holiday homes being built, many with a view to retirement, he said. Few farm sales had been made in the last 12 months. Rural land had increased considerably in value, but this was largely the result of sales of small holdings made attractive in many cases by their closeness to Christchurch and by “coastal influences,” said the District Valuer for Central Canterbury, Mr I. H. Bunt.

Takamatua and Duvauchelle had also increased in popularity as sites for building holiday homes, said Mr Graham. The valuation roll will be open for inspection at the Akaroa County office, and at the Valuation Department in the State Insurance building until September 19.