Taupo getting full story for the first time

Thursday 27 May 2004

Many Taupo people are learning for the first time the full extent of the possible risk of future subsidence in the town and its environs because of geothermal extraction, the Contact Energy consents hearing has been told.

By The Landlord

Commissioners were questioning the assumptions that property prices would suffer as a result of uncertainty over where subsidence could occur in the future, and asked whether it was not just a matter of spreading "doom and gloom".

However, Phillip Green, counsel representing the Taupo District Council, said the full extent of information had not been made available to the media previously.

"This hearing is the first time the media has ever been exposed to the full story."

Mr Green said the council had been very conservative about the release of information, because of a fear of creating a ?doom and gloom? in the town.

He indicated that when the SKM report on subsidence in Crown/ Invergarry Rd first became available, the media received prepared material and there was "a brief burst of publicity".

Read More - Opens in a new window
Commenting is closed

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.


Industrial holdings leave Provincia in strong position

Tales of strife and problems abound in the commercial property world these days, but the impact of the Covid-19 pandemic has not been as devastating for all commercial players.


Mortgage lending slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer