Property valuations skyrocking

Monday 1 November 2004

Property owners in the Manawatu district are continuing to reap remarkable capital gains - not even February's floods put a dampener on the real-estate market.

By The Landlord

The value of Tangimoana sections has trebled since the previous revaluation three years ago, while capital values have doubled.

Himatangi capital values have more than doubled. Indeed, some sections have more than quadrupled in value for the same period.

An average property in the district increased in value by 48 percent during the past three years and the total capital value of the district's 14,128 properties now exceeds $5.1 billion.

Land value increased by 66 percent to more than $3 billion.

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