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Duke & Cooke Property News |
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Published on: 3rd August 2008 RENTING PREFERRED TO BUYING RENTING PREFERRED TO BUYINGThe cost of renting a home in the Nelson region is on the rise, but it is still cheaper to rent than buy, property investments specialists say. A three-bedroom home in Nelson now costs, on average, $35 more a week to rent than it did a year ago. The rent for the same-sized house in Richmond is $48 more, but has not changed in Golden Bay, according to the latest figures from Auckland firm Crockers Market Research. Nelson Property Investors Association spokesman Glenn Morris agreed that it was cheaper to rent than to own, by about “half the cost”, even though rents were increasing. Nelson mortgage broker Richard Webby said a “surprising number” of people in Nelson did not have big mortgages compared with those in the main centres. He said it was difficult to say what the average mortgage repayment was in Nelson, although the average mortgage was around $250,000. Based on a current 12-month fixed interest rate of 9.4 percent, if a house costs $350,000 to buy using a loan of $250,000, repayments over 20 years would range from $1000 to $1381 a fortnight, depending on the level of loan principal. (The Nelson Mail, Monday 28 July 2008) TOP MAN OPENS CHILD CENTREGovernor-General Anand Satyanand was the guest of honour as Nelson’s largest early childhood centre threw open the doors for its official opening on Saturday. More than 100 young and young-at-heart Nelsonians turned up to the opening of the $2.3 million YKids Early Learning Centre in St Vincent St. The YMCA has been the driving force behind the centre, and the Government provided almost $1.8 million of funding for the project. (The Nelson Mail, Monday 28 July 2008) SEALING OF POISONOUS SITES URGEDContaminated sites could be sealed in the future, after a new report showing that a variety of toxins might have been released into the air and water during the experimental clean-up of the Mapua toxic site. Parliamentary Commissioner for the Environment Jan Wright today released her long-awaited report on the $12 million remediation of the former Fruitgrowers Chemical Company site. Dr Wright said that while soil was successfully treated at the site – which had been considered the most contaminated in New Zealand – operations from September 2004 until November 2005 were not well run. Large volumes of a wide range of agricultural chemicals were manufactured and stored at the Mapua site over several decades. The clean-up started in September 2004 and was completed last year. The report makes several recommendations for public agencies to implement to improve the management of other contaminated sites. (The Nelson Mail, Tuesday 29 July 2008) ALL-NIGHT BIG MACS LEAVE A SOUR TASTETahunanui residents are upset about the noise and rubbish created by “hoons” who use the suburb’s McDonald’s drive-through early in the morning, and nearby motel-owners fear the disturbances could cost them business. McDonald’s franchisee Matt Smith applied this month for resource consent for both the Tahunanui and Rutherford St outlets to open round the clock. The application for the Tahunanui outlet – which already opens 24 hours – says no complaints about early-morning trade had been brought to the attention of its operators, except one that appeared to have followed media coverage of the opening hours of the Nelson city outlet. Apex Motor Lodge owner Errol Beattie believes this is misleading. (The Nelson Mail, Tuesday 29 July 2008) FEAR AND ANGER AT TOXIC SITE REPORTAngry Mapua residents and former workers at the Fruitgrowers Chemical Company site are voicing their fears in the wake of a damning study (The Nelson Mail, Wednesday 30 July 2008) RATEPAYERS SPARED EXTRA CLEAN-UP BILLTasman district ratepayers will not be landed with a huge bill for the Mapua clean-up even though a document between the Government and the council setting out who would pay for what was never signed, says Tasman Mayor Richard Kempthorne. He said that despite the cost of the lengthy clean-up spiralling to $12 million, almost twice the original budget, ratepayers’ contribution would be capped at about $2 million. Mr Kempthorne also promised that the Tasman District Council would be accountable for mistakes made during the clean-up. (The Nelson Mail, Wednesday 30 July 2008) SORELY NEEDED FUNDING FOR JOAN WHITING HOMEThe Nelson-Marlborough District Health Board has provided extra funding to help keep Golden Bay’s only resthome open. Collingwood’s 17-bed Joan Whiting Rest Home had a net deficit of $77,559 during the past financial year, it was revealed at the home’s annual general meeting in Takaka on Monday night. Joan Whiting Memorial Trust treasurer Pete Watkins told the meeting that the actual loss was not as great as the $77,559 recorded on the balance sheet because of the additional funding from the NMDHB. (The Nelson Mail, Wednesday 30 July 2008) APPEAL DROPPED AFTER TDC, WAKATU RESOLVE DIFFERENCWakatu Incorporation has dropped its remaining High Court appeal against the Tasman District Council over access to Motueka water. Wakatu’s chief executive, Keith Palmer, said the legal action had been halted after both sides resolved differences over the amount of water reserved for Maori land. Tasman Mayor Richard Kempthorne said the agreement was not a compromise but the result of a working process between several levels of council and Wakatu staff that made it clear there was sufficient water for Maori land. Wakatu’s suit had come after its resource consent application for water from the Motueka aquifer was rejected by the council and an independent commissioner last year. Wakatu claimed the council had deliberately withheld information it needed to support its application. (The Nelson Mail, Thursday 31 July 2008) PROPERTY WATCHConsent sought for hotelA Christchurch-based company is seeking resource consent to demolish two homes and build a 14-unit hotel called Century Park Motor Lodge at 197 and 201 Rutherford St. Brent Ennor, the developer who built the Palazzo Motor Lodge just down the road, is a director in the company and it has two shareholders, Ronald Brooking and Michael Sweeney. Their consent application says the dwellings sit on “very valuable land” and redevelopment for non-residential purposes is “inevitable”. QV records show the property at 197 Rutherford St has a GV of $325,000 and was purchased last November for $500,000, although settlement did not take place until March this year. The Nelson City Council is calling for submissions by next Friday.
(The Nelson Mail, Saturday 2 August 2008) |
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This publication is compiled by Duke & Cooke Ltd, valuation and property specialists. The information contained within this newssheet has been obtained from various local sources and no responsibility is held for any parties relying on the accuracy of this information without obtaining independent verification. To contact us regarding circulation of this service: Phone +64 (03) 5489104, Fax +64 (03) 5468668, or email: admin@valuersnelson.co.nz |