CROWN VALUATIONS

Otago Daily Times, Issue 26290, 23 October 1946, Page 8

CROWN VALUATIONS

SALES OF PROPERTY CRITICISM BY COUNSEL Criticism of the methods by which the Crown valuations of properties were reached was made by Mr H. S. Ross, counsel for the vendor, in a case heard by the Otago Land Sales Committee yesterday in which approval was sought of the transfer of a house and section at 19 Ferguson street, Musselburgh, from the estate of the late Samuel Percival Norwood to Alfred Stonelake Tamblyn for £2OOO. Values of £450, £SOO, and £475 were placed on the section only by Messrs H. L. Paterson, L. J. T. Ireland, and L. A. Rhodes, all land and estate agents, respectively, when called by counsel for the vendor. Mr Ireland said in evidence that he would place a value of £1734 on the house and £SOO on the land, and would allow a deduction of £2O for renovations, bringing the value of the property to £2034. W. Ashton, a plasterer. J. Donaldson, a builder, and J. M. Sampson, land and estate agent, were also called for the vendor. Crown Valuer’s Evidence

Mr A. R. Harris, who valued the land for the Crown, said in evidence that he placed a value of £350 on the section. He considered that the house was 35 years old. He said that his valuation was based on opinion and comparison with other properties in the area. He had valued the Onslow House subdivision, which had been accepted by the committee. Mr Harris said, in answer to questions, that he had valued the. property as a whole, and had estimated depreciation on the whole house. He said he checked his valuation by the co»t and replacement system. He said he. had spent 45 minutes in valuing the property. Mr G. P. Booth, builder and valuer, said he had spent an hour in valuing the property. Mr J. R. Hampton, who appeared on behalf of the Crown, said in his submissions to the committee that there appeared to be a grave disparity between the valuations placed on the section. He considered that the Crown valuation of £350 was fair. He added that a valuation of 22s 6d a square foot was a standard basis on which the valuations of buildings could be made. Some variation had been found regarding the figures produced for depreciation on the property. The Crown contended that depreciation was still going on in the property in spite of renovations. The house was not modern, and a depreciation of 1 per cent, was little enough. Submissions for Appellant Mr Ross said the house had been completely remodelled in 1927 at a cost of £IOOO. The Crown placed a valuation of £1635 on the property, but the applicant had placed the value at £2OOO. All the valuers who had given evidence for the applicant had said that the value of the section was £450 or over. Individual items would go towards making up the house. These had not been taken into consideration by the Crown valuer, and to accept his valuation of £1635 would be to say that the £IOOO spent on renovations had just been wasted. Mr Ross contended that there must be some stage in the value of a building where depreciation could be arrested by renovations. “It is a deplorable thing that the destiny of hundreds of pounds should rest with the opinions of persons who, on their own evidence, spend threequarters of an hour and an hour respectively in examining property to be submitted to your jurisdiction,” Mr Ross said to the committee. The Crown, he claimed, contested applications for the purpose of depressing values. The chairman of the board, Mr C. B. Barrowclough: It is a little unfair to say that the Crown valuations are likely to depress values. Mr Ross suggested that the committee should inspect the property and also other properties which the Crown valuers had brought forward as evidence for comparison of the valuations of the sections. The committee, which reserved its decision on the application, decided to inspect the property. Transfers Approved Eighty cases were set down for hearing by the committee—Messrs C. B. Barrowclough (chairman), D. J. Ross, and E. Sincock. The following transfers relating to transactions of £IOOO and over were approved:— Norman Francis Clark to John Alan Steele, allotment 21, township of Regent Park; purchase price, £I3OO (reduced to £1075 by consent). John Montgomery Somerville to Harold Lex Aspinall. lots 1 and 16, township of Roslyn; purchase price, £2850 (reduced to £2500 by consent, conditional on money under colateral agreement not exceeding £100). James Lindsay to Walter Booth, allotment 1, East Taieri; purchase price, £1875 (reduced to £I4OO by consent). Reginald Kirk to John Black, sections 12 15 to 18, etc.. Glenkenich; purchase price, land and buildidngs £11,566, stock and chattels £l5O 16s Id Ernest Eckhold to Gifford Valentine Williams, allotments 1, 25, 26, 27, and 28, township of Ngapara; purchase price. £2700 (reduced to £2350 by consent). Arthur Noel Walker to Harold Anstruther Palmer, lot 7, plan 293. township of Allandale; purchase price, £2250 (reduced to £IB6O by consent). Henry Emslle to Isabella Sampson, part sections 12 and 13, block 44, town of Oamaru; purchase price, £llOO (reduced to £IOSO by consent). John Thomson to Douglas Styles Miller, farm sections 5,6, 10, and 56, block 4. Otokla district; purchase price. £1843 12s.

Julia Mary Cooney, Eileen Emmaline Mary Simpson, and William John Peter Taylor to Thomas Gerald Paulin, allotment 4 plan 224, Dunedin; purchase price £IBSO (reduced to £1230 by consent, drain xepairs to be paid by purchaser). Estate George Scott to Robert Scott, sections 22, 23, and 28, block 3, Cromwell district; purchase price £2500 (reduced to £2031 by consent). Arthur John Jamieson to Mary Elizabeth Naida Jamieson as a trustee for a company to be known as Jamieson’s Stores. Ltd., sections 8,9, 22, 23, 195, and 198, town of Naseby; purchase price £1499 (without special circumstances fixing the basic value). Dorothy Leah Michelle,' Donald Cranston Robb, and Garry Hugh Robb to Donald Cranston Robb as agent for Robb’s Garage Ltd., section 8 and part section 9, block 7, town of Roxburgh; purchase price £2474 4s 3d (without special circumstances fixing the basic value). Mary Alice Garden to William Leonard Ireland lot 15, D.P., North-East Valley district; purchase price £1350 (reduced to £1290 by consent). Leonard John Wraight to John Howrie Muir, part allotment 34, D.P. 9, town of Sunnyside; purchase price £I6OO. Estate of James Smaill to Elizabeth Brydone Anderson, part section 2, block 13, North Molyneux district; purchase price £IOOO. Estate Frank Theodore Beck to Melhem John Lettoof, part section 27, plan 3481. Dunedin; purchase price £2OOO. Estate Frank Theodore Beck to Joseph Joseph and Victor Joseph, allotments 29 and 36, plan 545, Dunedin; purchase price £1550.