Property up $5 billion in South

The latest Southland District Council property valuations show the value of property in Southland has increased $5 billion in three years.

The council's valuations, which have to be done every three years, show properties have risen from $13.6 billion in 2006 to $18.6 billion in 2009.

Southland District Council finance and customer services group manager Phil Culling said capital value averages increased 37% and land value 48%.

Rural values increased 51% in capital value and 60% in land value, largely because of the dairying industry, he said.


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