Ruapehu values up

Ruapehu Bulletin, Volume 11, Issue 509, 26 October 1993, Page 3

Ruapehu values up

The total value of the Ruapehu District has risen 11 per cent since 1990, V aluation New Zealand district valuer Mark Johannsen reported last month. The average total land value of the district is up by 33 per cent, mainly due to

increases in northern rural land valuations. Ohakune township has shown a stable saies pattern with residential and commercial properties increasing in value by 10 per cent since 1990 and land land values remaining stable.

Land values on average decreased by three percent. In Raetihi township, residential properties have shown an average increase of just over one percent in capital value with land values falling by 33 percent. Commercial and industrial land values have shown a similar decrease. Capital values in the WaimarinoAVaiouru area increased by about 10 per cent and land values remained stable. Valuation New Zealand said that all property owners should receive the new

valuations in by this week. "Anyone with queries about their valuation should call our office in Te Kuiti and we'll be happy to help," said Mr Johannsen. Objections must be lodged with the Valuation New Zealand Te Kuiti office before 26 November 1993, Ph: 07-878-8081. The northern wards of the Ruapehu District have had mixed results, with rural values up by between 50 and 70 per cent on 1990 levels and Taumarunui residential land values dropping by 20 per cent on aver-

age. Taumarunui commercial capital values increased on average seven per cent while industrial capital values remained static. Both commercial and industrial land values are at 1990 levels. "The significant increase in values in the northern wards was mainly for dairying and pastoral properties and land values which rose up to 70 per cent. Outlying areas recorded larger increases in value than better located holdings," said Mr Johannsen.