Rural land sales buoyant, urban values stable

Ruapehu Bulletin, Volume 12, Issue 571, 31 January 1995, Page 1

Rural land sales buoyant, urban values stable

Saies statistics for the Ruapehu District show a continued buoyancy in the rural land market, reports district valuer Mark Johannsen. He said indications are that rural values in the district are still increasing. However the urban areas are generally stable with only slight increases occurring. In the southern part of the district 1 (1 in the previous half-year) economic fattening unit sold averaging $987 ($1428) per hectare and $191 ($196) per stock unit. This showed a 44 per cent increase above the September 1993 Government Valuation. Five pastoral properties were sold averaging 44 per cent above 1 993 Government Valuation. This compares with six saies showing a 42 per cent increment in the previous half year. Six lifestyle block saies were notified showing a 29 per cent increase over 1993 values. Ohakune recorded 27 house saies compared with 35 in the previous period. The average price was nine per cent above September 1 993 levels compared with two per cent in the previous half year. An average sale price of $70,604 was recorded.

Raetihi township recorded 1 2 house saies averaging 1 per cent above Government Valuation. The average price was $43,900 compared with $35,500 in the previous half year. In the northern rural areas two economic fattening units sold for an average price of $843,500 ($756,200 in the previous half year comparison) and averaged $1987 ($1537) per hectare and $208 ($178) per Stock unit. The prices were 42 per cent above the September 1993 valuations. A total of eight pastoTal properties changed hands averaging 40 per cent above the 1993 Government Valuation. This compares with 19 saies showing an 1 1 per cent increase in the previous half year. Eleven lifestyle property saies were notified showing a 14 per cent increase over 1993 values. In Taumarunui 44 house saies were recorded at an average one per cent above September 1993 Government Valuations. The volume was up on the 30 saies of the previous half year. The average sale price was $56,400 compared with $60,447 in the previous half year.