One of Auckland’s oldest homes on a huge Parnell main street site has sold for $2.5 million – well below its QV rating valuation of $4.2 million. Someone is quoted saying “It reflects its historic classification – it is very restrictive what work you can do to any part of the property.” Is this an exceptional case?
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10730154
How do we ensure that residential home owners in Thorndon don’t end up bearing costs to benefit a wider good?