What price this view?
Monday 13 December 2004
Raglan widow Hazel Edwards is paying a hefty price for her determination to remain in her Raglan home of 40 years.
By The LandlordSince 2002, soaring property values have propelled rates up by 48 per cent, causing an exodus of pensioners from the town.
This year, Mrs Edwards will pay rates totalling $2777; $2558 to Waikato District Council and $219 to Environment Waikato.
That's $891 more than in 2002 and a $106.80 fortnightly chunk out of her pension of $498.
The financial strain has forced dozens of pensioners like Mrs Edwards from their seaside homes, says real estate agent Margaret Kerapa.
"I'd hate to count (how many have gone)," she said. "I am totally aware that the rates are just ridiculous."
Read More - Opens in a new window
Commenting is closed
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
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 fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.