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The Hastings and Macleay Valley
Your locally owned community news • Phone: 6583 9088 • Thursday 7 January 2016
Hikes hit highrises By CHRISTINA PARKIN
OWNERS of new units being built in Port Macquarie can expect to bear the brunt of increased land valuations. It is highly likely developers will pass on the increases associated with a positive movement in land valuations to purchasers of new highrise apartment projects planned for the city hub. Debbie Moore, Principal of Debbie Moore Real Estate, said that while the new valuations showed increased land values, this would not necessarily mean an increase in rates. She said existing residential owners probably would not be too adversely affected. She said there may have been some confusion through reports which were based on the recent issue of the NSW Valuer General’s Notices of Valuation for July 1, 2015, land values. A release quoted an overall percentage change in land valuations for the total local government areas of Port Macquarie-Hastings as 10.08% and minus 5.53% for the Kempsey Shire. “Simply put, these figures really only reflect the total availability of land for potential development,” said Ms Moore. “Compared to Kempsey, Port Macquarie has seen large tracts of land open up close to the
Pacific Highway in the Sovereign Hills area, with 400 lots in Stirling Green added to those in College Rise and Barton Ridge. “Estates such as Ascot Park and Lake Innes have also been opened up to accommodate expected demand from the new Charles Sturt University and Base Hospital extensions. “When you drill down into the specifics of the valuation data, you can see there is some movement in the high density residential in the CBD areas of William Street, with limited movement in the low density residential in existing areas of Port Macquarie and industrial blocks in the Lake Road industrial precinct.” NSW Valuer General Simon Gilkes said land values were a factor used by councils to calculate rates,” Mr Gilkes said. “But changes in land value don’t necessarily lead to similar changes in rates,” he said. Ms Moore said the ‘mum and dad’ owners of residential land probably would not see much effect on their rates. Buyers in new highrise developments however, may not be so lucky. “The most significant effect from this valuation is that property developers will most likely pass on the rise to the buyers of the apartments and units in the highrise developments about to be built in central Port Macquarie,” Ms Moore said.
Page 3 : Postal charges increase
Art imitates life in the forest The photo above looks just like a scene of the forest floor, with its leaf litter and plants struggling to reach the light. But look again... Are they real growing plants? Or are they manmade? And if they are manmade, what are they made of? It’s difficult to tell but at the Glasshouse an exhibition reveals the full story of a three-year project to convert rubbish into art, creating a Frugal Forest of the stuff people throw out. See story page 3.
Page 7: Local beanies to warm Nepalese villagers
Page 18-21: Your best local TV guide
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