Prop­erty val­ues soar in Hau­raki reval­u­a­tion

Waihi Leader - - News - By ME­LANIE CAMOIN news@wai­hileader.co.nz

New Quotable Value QV fig­ures show res­i­den­tial and life­style prop­erty val­ues in the Hau­raki Dis­trict have risen sharply in value, with a 56.4 per cent in­crease, over the last three years.

Hau­raki Dis­trict Coun­cil had al­ready an­nounced an av­er­age rate rise of 4.4 per cent over the next 10 years with 6.4 per cent rise for the first year in 2019 in its Long Term Plan.

The new QV eval­u­a­tion re­port will af­fect prop­erty own­ers’ rates, which are sep­a­rate from the rates in­crease set out in the Long Term Plan.

Coun­cil spokes­woman Paula Trub­shaw says the Coun­cil won’t col­lect more rates, but their al­lo­ca­tion from one prop­erty to an­other might change.

“It is case-by-case as some home­own­ers might have an in­crease in their rates and oth­ers not.

“It all de­pends on your prop­erty value,” she said.

She says the Coun­cil might change the Dis­trict Plan and has not cal­cu­lated the re­vised rates share across the dis­trict yet.

Every three years, val­u­a­tions are pre­pared on be­half of all coun­cils by QV to help them set rates for the next three years.

The up­dated rat­ing val­u­a­tions are in­de­pen­dently au­dited by the Of­fice of the Val­uer Gen­eral.

As well as a par­tic­u­larly strong in­crease in the value of res­i­den­tial prop­erty, the dis­trict has had an av­er­age value in­crease of 40 per cent in life­style prop­er­ties — land which is be­tween 2500m2 and 20ha.

Com­mer­cial and in­dus­trial prop­erty val­ues have also in­creased around 20 per cent.

In the ru­ral sec­tor, the value of dairy­ing land has dropped 4.4 per cent.

For the dairy sec­tor, Paula says be­cause QV showed a drop in cap­i­tal value, rates in this sec­tor might de­crease.

With an av­er­age rise in res­i­den­tial cap­i­tal, the QV eval­u­a­tion brings good news for home­own­ers want­ing to sell their prop­erty.

In Waihi, the QV re­port shows a strong de­mand for well-lo­cated and pre­sented prop­er­ties.

The Nga¯tea Es­tate sub­di­vi­sion is also get­ting strong de­mand from buy­ers as well as the lower end of res­i­den­tial Paeroa prop­er­ties.

The over­all value of Hau­raki Dis­trict has risen by nearly 23 per cent com­pared to 2015.

Hau­raki Dis­trict Mayor John Tregidga says over­all in­crease in res­i­den­tial val­ues re­flects the grow­ing in­ter­est in Hau­raki as an at­trac­tive place to in­vest, live and do busi­ness.

“I’ve lived here for more than 40 years and I’ve never seen a leap like this. It’s re­ally en­cour­ag­ing to see so much ac­tiv­ity and growth in our towns,” he says.

Res­i­den­tial and life­style prop­er­ties make up more than half of the dis­trict’s prop­er­ties with 56 per cent in res­i­den­tial

dwellings and 20.8 per cent in life­style blocks.

New rates will be up­dated on July, 1, 2019.

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