Property Management

$11m for watersport bumps up city rates

Christchurch residents face a 3.62 per cent rate rise after the city council controversially decided to put aside $11 million for a watersports park.

Tuesday, March 23rd 2004

In a marathon meeting yesterday, the Christchurch City Council decided against financially backing the $30m watersports park planned by the Lake Isaac Trust but agreed it would budget $11m for a flat-water facility somewhere in Christchurch.

That decision has devastated the trust, which had planned to create a lake on land owned by the Diana Isaac Wildlife Trust, between Christchurch International Airport and the Clearwater Resort.

The lake was to replace water sports courses at Kerrs Reach and Lyttelton Harbour, and feature an international eight-lane rowing course. Land worth $1.8m was to be given to the council for the park.

The council voted 13 to 10 against the Lake Isaac proposal but then backed money for another yet-to-be-identified site by 19 votes to four.

The decision pushed this year's projected rate rise up from the 3.25% predicted this week, to 3.62%.

Read More - Opens in a new window

Most Read

Unity First Home Buyer special 3.95
SBS FirstHome Combo 3.99
TSB Special 4.49
SBS Bank Special 4.49
Co-operative Bank - First Home Special 4.49
Unity Special 4.49
ICBC 4.49
ASB Bank 4.59
Westpac Special 4.59
Kiwibank Special 4.59
AIA - Go Home Loans 4.59
Unity Special 4.89
ICBC 4.89
BNZ - Std 4.89
Kiwibank Special 4.89
Kainga Ora 4.95
China Construction Bank 4.95
TSB Special 5.09
ASB Bank 5.09
SBS Bank Special 5.09
Nelson Building Society 5.09
AIA - Go Home Loans 5.09
Westpac Special 5.59
ICBC 5.65
Kainga Ora 5.69
TSB Special 5.69
SBS Bank Special 5.69
AIA - Go Home Loans 5.69
ASB Bank 5.69
BNZ - Std 5.79
Co-operative Bank - Owner Occ 5.89
Kiwibank Special 5.89
China Construction Bank 5.99
SBS FirstHome Combo 3.29
AIA - Back My Build 3.34
SBS Construction lending for FHB 3.74
CFML 321 Loans 3.95
Co-operative Bank - Owner Occ 4.99
Co-operative Bank - Standard 4.99
Heartland Bank - Online 5.30
ICBC 5.39
Kiwibank - Offset 5.65
Kiwibank 5.75
Unity Standard 5.79

More Stories

Thursday, February 19th 2026

RBNZ expects slower house price growth in the current recovery

The Reserve Bank thinks house prices will rise at a much slower pace during the current recovery than they have in past cycles.

Wednesday, January 07th 2026

Queenstown not off the radar for first home buyers

First home buyers are not being deterred by Queenstown’s soaring house prices.

Record levels of first home buyers taking out low deposit loans

Tuesday, December 23rd 2025

Record levels of first home buyers taking out low deposit loans

About half of all first home buyer lending has been done at a less than 20% deposit in recent months.

Buyers sitting on the sidelines in best time to buy in a decade

Thursday, December 04th 2025

Buyers sitting on the sidelines in best time to buy in a decade

Stable house prices, low interest rates and plenty of houses to choose from are still not enticing buyers.