The council said yesterday there had been an overall 12.6% increase in capital value, and a 19.5% rise in land value for Dunedin homes in the past three years. There would be rates rises for some from the valuation increase, but that would be ``slight'' and from a low base. Mrs Nidd warned the rating valuations did not necessarily reflect the commercial reality. Sellers going to the market were inclined to get ``hung up'' on the rating valuation, sometimes going in with wrong expectations. Quotable Value data for October showed Central Otago values were up 21.5% on a year ago, and Queenstown Lakes up 29.8%.

Source: Otago Daily Times November 07, 2016 17:08 UTC