Zoning Affects Christchurch Land Values

March 17, 2014

The recent revaluations have left some property owners a little confused and the issue appears to be around zoning. It appears the zoning of your property has influenced the land value, not just house sales in the area. This becomes interesting when your property has been 'tarred with a TC3 brush' because you are in the proximity to a river (even though you are 80m away from it and elevated 50m and sit on bedrock and the geotech engineer says this is the best property in Christchurch to be sitting on). There are also examples of some TC2 properties flanked by TC3 having wildly different land values with residents arguing that it is the same land the houses are sitting on.

In the press recently, Marc Greenhill reports on some of the disparities occurring when residents receive their new rating value...Two neighbouring sections in Hillsborough, both red until the Port Hills zoning review in December turned one green, now had values $176,000 apart after being just $7000 apart in 2007."This just highlights a stronger argument for why it was the zoning policy itself that caused the loss in value," Newman said.

The question is then, if you think your property has been wrongly zoned can you ask for it to be rezoned which will then mean a revaluation of your revaluation? Unfortunately not, the idea that your land would be rezoned without a whole area being rezoned is still out of the question.

Hopefully potential buyers will use their common sense when purchasing a property, along with conducting the necessary checks to determine land quality. Or, if you are thinking of selling and there is a question mark over zoning, you could get your own report produced. Good luck!

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Filed under Christchurch Earthquake \ Christchurch Zoning

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