Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Devaluations A New Nightmare for Residents

Denis O’Rourke MP
Spokesperson for Christchurch Earthquake Issues

19 March 2014

Devaluations A New Nightmare for Residents

Fifty-six Christchurch residents on the Port Hills fear much reduced earthquake payouts after massive devaluations of their properties, says New Zealand First.

“Two properties have dropped in value by 97 per cent - the total valuation of $13 million for these properties has plummeted to $2.3 million,” says Spokesperson for Christchurch Earthquake Issues Denis O’Rourke.

“The drops in value range from $29,000, through to $126,000, $175,000, $249,000 and more.

“This is another big hit, a new nightmare, following the earthquake and three years of waiting for their claims to be resolved. Now they are deeply concerned about the possibility of payments that could be much less than the 2007 valuations which other red zoners have been offered.

“The failure of the Government to make offers of purchase to the owners of red-zoned property on the Port Hills is shocking and disgraceful.

“They have been left in limbo, putting a huge toll on their lives well-being.

“While some delay might have been expected due to the need to gather scientific information for red zoning decisions, that is all now well behind us.

“The Christchurch City Council has revalued the Port Hills red-zoned land as follows: ‘Due to the impact of the earthquakes, Red Zoned properties have been treated as unsuitable for residential occupation. They were valued as rural land, a common valuation approach when there is little market for the land. A premium was then applied taking into account the city location and the possibility the land could in future be suitable for residential occupation if mass land remediation is undertaken. In most cases, this has resulted of the land being valued at around $30,000 to $40,000.’

“It is high time that the long suffering Port Hills red zoners were able to move on, the Government must immediately make an offer of the 2007 rating value for their homes,” says Mr O’Rourke.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Court Sends Back TPP Decision: 'Blanket Approach' In Turning Down OIA Not Lawful

"When the minister refused Professor Kelsey’s request, neither he nor his officials assessed each piece of information requested against the criteria in the act for withholding official information," Justice Collins said in his judgment. More>>


CTU Conference: Helen Kelly On Standing Down

So now I have left you a big list of jobs to do when I go, I do want to talk about leaving for a little bit. I am going to miss this job. It is, believe it or not – fun and interesting ... More>>


Members' Bills: Seymour Lodges Assisted Dying Bill

“The End of Life Choice Bill is a response to the anguish faced by a small but significant minority of people with terminal illness or who are grievously and irremediably ill, as they anticipate the prospect of intolerable suffering and the indignity of the final few days and weeks of their lives,” said Mr Seymour. More>>


Activism: SHAN Protest Against State Housing Sales

The State Housing Action Network (SHAN) led a protest in Wellington against the sale of state housing by the Government. At midday thirty to forty protestors marched from Civic Square to Parliament accompanied by the sounds of the Brass Razoo Solidarity Band. More>>

1080 Threat: Police Arrest 60 Year Old Auckland Man

New Zealand Police have arrested a 60-year-old Auckland businessman in relation to the criminal blackmail threat to poison infant formula with 1080, made public in March this year. More>>


Canterbury Transition Bill First Reading: Government Hiding From ECan Submissions

The Government has radically reduced the amount of time for public submissions on their controversial ECan bill, says Labour’s Environment spokesperson Megan Woods... “Their shortened timeline could mean that instead of the usual six weeks, Cantabrians get just one week to submit their views on the bill." More>>


Gordon Campbell: On Our Apparent Inability To Stand Up To Australia

Alas, and only days before the first meeting between our Prime Minister John Key and the new Australian leader Malcolm Turnbull, this country is showing no sign of standing up for itself. Quite the reverse. We seem to be rolling over, and making gestures of appeasement. More>>


Health Not-So-Many Benefits: Auditor-General On Scrapped Cost-Saving Plan

The Auditor-General decided to look into the costs and benefits of HBL’s work in the health sector and, where possible, identify lessons... We found that several factors contributed to the difficulties that befell HBL and, in particular, the Finance, Procurement and Supply Chain (FPSC) programme. More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news