Owners of land likely to sell after rezoning decision
Tuesday 5 October 2004
Some owners of Taieri Plain land Dunedin City Council intends to zone industrial do not want to sell, but believe commercial reality will see them vacate their land.
By The LandlordNo matter what the future holds, Janice Wilson, who owns about 16ha on Dukes Rd with her husband Ray, is glad for an outcome.
"I'm absolutely fed up with the whole thing. We've been living life in suspension for the past two years," she said yesterday.
The Environment Court has upheld the council's proposal to rezone 37ha of rural land in Dukes Rd, near Mosgiel, which included the Wilsons' block.
The industrial re-zoning was opposed by environmental group Plain Sense and Taieri Plain resident Brian Miller.
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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.
Take note, investors: It is "quite possible" fixed rate mortgages have hit their lowest point in this cycle, according to economists at ASB.