Jump in prop­erty val­ues in neigh­bour­ing Waipa

Matamata Chronicle - - Out & About - PROP­ERTY

Those who bought into the Waipa prop­erty mar­ket three years ago will be feel­ing jammy af­ter a reval­u­a­tion shows a $3.81 bil­lion in­crease.

Quotable Value data re­veals the district has seen a 23.1 per­cent rise in the cap­i­tal value of prop­erty, com­pared with a 1.6 per­cent in­crease in 2013.

It’s a clear in­di­ca­tion of con­fi­dence in the district, Waipa District Coun­cil busi­ness de­vel­op­ment man­ager Steve Tritt said.

Coun­cil has said the change in in­di­vid­ual prop­erty val­ues doesn’t nec­es­sar­ily mean a cor­re­spond­ing in­crease in rate bills.

As at Au­gust 1, cap­i­tal val­ues across all Waipa prop­erty types have risen from three years ago.

Res­i­den­tial prop­erty, which makes up the big­gest pro­por­tion of Waipa’s prop­erty mix, has seen the big­gest jump, ris­ing by 38.2 per­cent.

The av­er­age Waipa house is val­ued around $462,000.

In Cam­bridge and Leam­ing­ton res­i­den­tial cap­i­tal val­ues have jumped by an av­er­age of close to 45 per cent.

On av­er­age, Ohaupo cap­i­tal val­ues have risen by 35.5 per­cent, Te Awa­mutu 32.4 per­cent, Ki­hik­ihi 29.3 per­cent and Piron­gia 19.4 per­cent.

Com­mer­cial prop­erty and in­dus­trial prop­erty have seen an av­er­age in­crease in cap­i­tal value of 7.6 and 7.2 per­cent.

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