Hard work ahead to keep lid on rates rise - James
Friday 13 February 2004
The Christchurch City Council faces a tough task keeping rate increases in check despite a buoyant economy boosting its coffers, a senior councillor warns.
By The LandlordA report to the council shows its environmental services and city water and waste units got $2.5 million more than expected in the six months to the end of December because of the building boom and the strong economy.
Overall the council's operating surplus for the six months ending December was $22.4m – about $13m above predictions.
But the full-year result was unlikely to be as high because of delays in some spending, the report said.
Read More - Opens in a new window
Commenting is closed
It’s full steam ahead for the Stevenson Group’s $800 million, 361-hectare industrial and residential development in South Auckland – despite the uncertainties of the post-Covid-19 era.
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.
Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.