TOWN & COUNTRY PROPERTY VALUES UNDER SCRUTINY

Gisborne Herald, Volume LXXVI, Issue 22888, 7 March 1949, Page 4

TOWN & COUNTRY PROPERTY VALUES UNDER SCRUTINY

Larger numbers of applications than usual were before the latest weekly sitting of the Gisborne Valuation Committee, and values placed on town and country properties came under scrutiny, revisions being made in a number of instances-

A house in upper Gladstone road, on lrd. 30per., submitted at £3500, was approved for sale at £3400, and another in Aberdeen road, on 30per„ subunitted at £ISOO, was approved at £1350. A substantial residential property in Kaiti esplanade, on which the agreed price was £SOOO, was the subject to a considerable range of independent valuations, and the committee fixed the fair price at £4343.

A reduction of £l3O was made in the price of a house in Hacche street on lrd 24per„ submitted at £360. , Other applications which were approved as submitted included a group of sales in a Hexton sub-division, the purchasers being returned servicemen who have formed a colony of small farms ranging in area from 4ac. to 17ac. The areas and amounts paid were Mac. lrd. 20per„ £1080; 10ac„ £690; 4ac., £300; sac., £355; 10ac,, £615; 10ac-, £640; 13ac., 2rd. 17per., £1040; 17ac., £955; 17ac., £1015; sac. Ord. lper. £360. The total sale price of the subdivision was £7050. Purchase by Hospital Board Approval was given by the committee to the sale of the Matthews property at Mangapapa, comprising a large residence and 7ac. 2rd. 4per. of land, at £5500, after a study of three special valuations ranging from £5155 to £5647.

Other transactions approved as submitted were: Sale of house, lower Ormond road, on 32per., £I3OO (reduced from £1600); sale of lessee’s interest in 695 acres of native leasehold, Te Araroa, £2916; sale of farm, Hexton, 16ac. 3rd. 17per„ £650; sale of section of 23pei\, Wainui, £9O; lease of shop, Waikanae Beach, on 18per., £3 per week for three years, no right of renewal or compensation; sale of section, Scott street, 33per-, £3O; sale of another section, Scott street, 33per., £3O; sale of shed and section, 14per., Church street, Opotiki, £2O; sale of half-interest in house, Domett street, on 34per., £IOO7 10s; sale of section, Goring street, Opotiki, lrd., £81; sale of house on 32per„ lower Ormond road £1300; sale of house, Stanley road, on 2rd. 38per., £2250; sale of section, Wainui Beach, lrd. 2per-, £125; sale of house on lrd., Ricnardsop’s avenue, £1850; lease of farm, Waiotahi, Mac. 2rd. 32per„ £7 per annum for 10 years no right of renewal or compensation.