November 20, 2007

Media Release (For Immediate Release)

Property Price Rises Reflect Booming City

Residential property values in Waitakere have risen up to 48% in just three years reflect a growing prosperity and climate of confidence says Mayor Bob Harvey.

Latest figures from Quotable Value show sharp increases in values across virtually all suburbs.

“This is great news for families and indeed all property owners,” says Mayor Harvey. “This is concrete proof that Waitakere is not only a great place to live, but it is also a very wise investment location.”

Mayor Harvey says much of the rise in property values can be attributed to major developments the Council has made, or facilitated, in recent years.

“We have build award winning libraries and other Civic buildings and have the premier indoor sports stadium in the country (The Trusts Stadium). The Council has also invested massively in basic infrastructure like roading, parks, sewerage, stormwater and so on. That expenditure is now paying dividends to our ratepayers,” he says.

Mayor Harvey also points to the undergrounding of the railway track through New Lynn (due to start next year) and new growth areas in the North-West of the City around Westgate as developments which will “transform” the region over the next 20 years.

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