Friday, Sept 18, 2015
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THE INDEPENDENT VOICE OF MID CANTERBURY
Capital value of district’s farms up 29.2% District’s land value $11.4 billion Capital value of district’s houses $3.16 billion Rural properties make up 65% of district’s capital value
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If you have $16.7 billion in change you could own every house, every building and every piece of land in the Ashburton District. Three yearly valuation figures for the district were released yesterday by Quotable Value, showing that at $16.7 billion, total capital value of the district had risen by 24 per cent since 2012, a rate of growth national revaluation manager Gail Smits says is faster than many rural service towns. “The district has seen some quite healthy increases. Three years ago there was not a lot happening. The district was coming off a fairly quiet rural time and it was after the earth-
quakes. Residentially, the district has seen growth,” she said. The most significant change in residential dwelling movement was in Ashburton’s east (19.1 per cent) and Rakaia (18 per cent). In the residential sector overall, the capital value gain has been 16.4 per cent. “Percentage wise there’s been a lower change on the west side of Ashburton and higher change on the east, but these are generally lower value properties and they’re the ones that have come up more,” Ms Smits said. For the purposes of revaluation Ashburton is divided by State Highway One. The highest average current value for dwellings is in Methven, $362,000
and the lowest in Rakaia, $284,000. A total of 9832 properties are classed as residential. The most significant change has been in the rural sector where capital values have risen 29.2 per cent and land values 32.3 per cent. Farming which includes pastoral and dairy farms makes up 41 per cent of the district’s capital value while arable and specialist farming comprises another 23.5 per cent. Across the district, 2242 properties are classified as farms with another 1600 as lifestyle.
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