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 LandlordCommissioners 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".
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Commenting is closed
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.
LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.