Media Release – 3 April 2013

Flat land offer deadline met by most

Residential Red Zone property owners continued to accept Crown offers right up until the last hours of their March 31 deadline.

In total 178 property owners chose not to either receive or accept the voluntary offer they were entitled to as at 5pm Tuesday, which was a reduction of almost 100 from last Thursday.

Those 178 include 48 who did not give consent to receive an offer, down from the 59 who had originally not wanted to see what their Crown offer would be.

Canterbury Earthquake Recovery Authority chief executive Roger Sutton, says the high level of acceptance was what he expected.

“We always knew this offer process would not appeal to everyone, and in a natural disaster of this size and scale, there actually is no one-size-fits-all solution. But what this offer set out to do was to help as many people as possible with a financial option.”

The deadline for this group of flat land property owners was Sunday, 31 March. But in practicality that became 5pm yesterday (Tuesday) as legal offices and postal services did not operate over Easter.

With many law firms also closed yesterday, there may still be some sale and purchase agreements yet to be formally registered with CERA even though they arrived with their lawyers before the deadline passed.

CERA will work with settlement agents over the next few days to ensure all valid offer acceptances are captured in the system.

“Given the circumstances of Easter, there may be valid agreements that have yet to be counted. I think that means the final number will be even smaller,” Mr Sutton says.

ENDS

NorthMap.pdf
SouthMap.pdf

RRZ ACCEPTANCE TOTALS
Consent form not returned (so no Crown offer made): 48
Sale and purchase agreement not returned: 130
Settled 5419
Accepted, nominated settlement date 1193
Suburb breakdown of the total figures:

Kaiapoi
Consents not returned 6
S&P not returned 5
Offer accepted, but not settled 161
Settled 676
Expired 2

Pines Beach and Kairaki
Consents not returned 14
S&P not returned 6
Offer accepted, but not settled 23
Settled 100
Expired 7

Brooklands
Consents not returned 10
S&P not returned 27
Offer accepted, but not settled 182
Settled 272
Expired 4

Avon Loop, Richmond, Linwood
Consents not returned 2
S&P not returned 29
Offer accepted, but not settled 109
Settled 279
Expired 0

Dallington, Burwood, Avonside
Consents not returned 8
S&P not returned 34
Offer accepted, but not settled 417
Settled 2221
Expired 2

Avondale, Aranui, Bexley, New Brighton, Wainoni
Consents not returned 6
S&P not returned 29
Offer accepted, but not settled 301
Settled 1871
Expired 0

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