Property prices rise across all categories

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BY MARGARET PHILLIPS

Gore district land values increased by 11.2% while capital values rose by 10% overall, the latest QV revaluations show.

The latest QV valuation brought good news for Mataura property owners – capital value increased 15.6%, with the average house now valued at $95,500, QV rating manager Canterbury Luke van den Broek said.

“That’s very strong for a small town,” he said.

Other small towns in the South Island recorded average increases of about 10%, he said.

The land value of businesses district-wide increased by 23.5% on average, followed by farms (13.9%), lifestyle blocks (13.6%) and residential properties (11.2%). The capital value of farms increased the most (13%), followed by lifestyle properties (10.4%) and residential properties (6.3%).

The average house price in Gore is now $223,300.