Prop­erty val­ues rapidly ris­ing

South Waikato News - - Your Paper, Your Place - LUKE KIRKEBY

If you are look­ing to in­vest in the prop­erty mar­ket the South Waikato looks to be a sen­si­ble choice.

The district has seen the sec­ond big­gest in­crease in house prices over the last 12 months for the whole of New Zealand.

Sta­tis­tics from Quotable Value Lim­ited (QV) re­leased to­day show the av­er­age cur­rent value for res­i­den­tial prop­er­ties now sits at $184, 672 which is an in­crease of 32.4 per cent over the last 12 months and 9.6 per cent in the last three.

The lat­est sta­tis­tics now places South Waikato res­i­den­tial prop­er­ties at 13.2 per cent over the 2007 mar­ket peak.

The only district to beat the South Waikato over the last 12 months was Kaw­erau which saw res­i­den­tial prop­erty val­ues rise by a mas­sive 60.2 per cent to sit at $176, 324. That’s an in­crease of 17 per cent in the last three months which places val­ues at 10.7 per cent over the 2007 mar­ket peak.

Ro­torua prop­erty prices also con­tinue to see a steady in­crease and have risen by 27.1 per cent in the last 12 months and 5.9 per cent in the last three to sit at $375,187. The av­er­age cur­rent value in Ro­torua is now 27.8 per cent over the 2007 mar­ket peak.

In nearby Taupo, while val­ues have risen, they seem to have slowed down.

The av­er­age cur­rent value now sits at $413, 011 which is an in­crease of 14 per cent in the last 12 months but only 1 per cent in the last three. The value is now 3.1 per cent over the 2007 mar­ket peak.

While still lag­ging be­hind the 2007 mar­ket peak by 13.8 per cent, res­i­den­tial prop­erty val­ues in the Ruapehu District are slowly in­creas­ing. The av­er­age cur­rent value now sits at $155,436 which is an in­crease of 16.5 per cent in the last 12 months and 5.9 per cent in the last three.

The Auckland mar­ket has in­creased by 12.2 per cent over the last 12 months which is the slow­est rate since Jan­uary 2015. Home val­ues are now 91.6 per cent higher than the 2007 peak and the av­er­age value is now $1,047,179.

Na­tion­wide res­i­den­tial prop­erty val­ues have in­creased by 12.5 per cent over the last 12 months and by 1.3 per cent over the last three months which places them at 51.5 per cent over the 2007 mar­ket peak.

When ad­justed for in­fla­tion the na­tion­wide an­nual in­crease drops slightly to 12.2 per cent and val­ues are now 28.5 per cent over the 2007 peak. The av­er­age value na­tion­wide is $627,905. The South Waikato District Coun­cil is in the process of in­tro­duc­ing new safety mea­sures at both the Toko­roa Land­fill and Pu­taruru Trans­fer Sta­tion.

‘‘Users of th­ese fa­cil­i­ties will no­tice ad­di­tional rails across the tip­ping face in Toko­roa and the pro­vi­sion of con­crete walls in Pu­taruru,’’ the coun­cil’s ser­vices man­ager An­drew Pas­coe said.

Pas­coe ex­plained that the rails in Toko­roa were be­ing in­tro­duced as a mea­sure to re­duce the risk of users fall­ing down the bank into the tip it­self.

‘‘The lower rail is at waist level with a higher rail in place for those users work­ing off their trailer,’’ he said.

The con­crete walls in Pu­taruru were in place to avoid users hav­ing to throw rub­bish di­rectly into the open top bins. Rub­bish is to be placed against the walls and the con­trac­tor will trans­fer this ma­te­rial into the bins us­ing an ex­ca­va­tor af­ter a rea­son­able quan­tity of ma­te­rial has ac­cu­mu­lated and no users are present.

The risk of fall­ing into rub­bish can re­sult - and has re­sulted - in se­ri­ous in­jury at rub­bish dis­posal fa­cil­i­ties through­out the coun­try. Th­ese safety mea­sures are be­ing put in place to make th­ese sites safer for users by re­duc­ing the risks and lim­it­ing the pos­si­bil­ity of in­jury.

The coun­cil’s per­for­mance mea­sures show that at least 85 per cent of res­i­dents rate land­fill sites as av­er­age, good or very good. The sites are man­aged by pri­vate op­er­a­tors in ac­cor­dance with the coun­cil’s Land­fill Man­age­ment Plans.

LUKE KIRKEBY/ FAIRFAX NZ

Res­i­den­tial prop­erty prices rise sig­nif­i­cantly in the South Waikato.

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