Buyers will consider rates, & indebtedness of Authorities
For a long time US statistics for buyers have emphasized ”property taxes” & the solvency of local authorities in comparisons of various sorts.
Till recently I thought this somewhat unnecessary for New Zealand whereI felt all authorities run the same more or less, and the rates not hugely different, and imagined buyers thought the same.
But look now; would you like to buy real estate in Kaipara with $19,000 of debt for every citizen? And Dunedin looks to have major issues…. including a $220 million stadium that I believe has not generated a cent of income in its first half year! Neither Elton John nor the World Cup Rugby paid to use it.
I think buyers will consider these things when moving now.
So authorities that have been profligate may drive a nail into that areas future prospects. A sobering thought.
March 09 2012 08:01 am | New Zealand Real Estate Market and Zoning
David Leggott on 09 Mar 2012 at 9:07 pm #
Sincerely thought provoking article mate…..