VALUATION OF HOUSES

Otago Daily Times, Issue 26274, 4 October 1946, Page 6

VALUATION OF HOUSES

BASIS FOR ASSESSORS PRICE OF THE TIMBER (P.A.) AUCKLAND. Oct. 3. The view that the price of impbrted timbers in 1942 should not be used as the basis for the valuation of houses built previously of such timbers when the 1942 values of houses were being assessed for the purposes of the Land Sales Act was expressed by Mr Justice Archer in the. Land Sales Court yesterday, when it was hearing an appeal by the Crown against the decision of the Urban Land Sales Committee to determine the basic value of a house in Remuera at £I9OO. The Crown submitted that the price was too high, and the vendor opposed the appeal. The vendor was Robert Thomas (Mr Jacobsen), and the purchaser David Maurice Curran. Mr R. V. Kay, of Wellington, represented the Crown. Evidence was given that the house, which was 20 years old, was constructed of Oregon, which, it was submitted by the respondent, had a life of 150 years compared with 80 years, which was considered to be the life of a house built of New Zealand timber. A Crown witness, Frank Cooper, a valuer, stated in cross-examination that Oregon and redwood did not take the borer. When asked if he knew that the price, of Oregon in 1942 was £5 5s for 100 feet, witness asked his Honor whether valuers were expected to value at the current cost of material which was virtually unobtainable, and therefore was at a much higher price than usual.

His Honor said he did not think they should do that. Witness stated that at the time the house was built Oregon, redwood, and cedar were competitive timbers with local timbers, and they sold at about the same price as rimu. He did not think they were superior to heart of rimu or matai. The court reserved its decision.