CERA says 26,000 Chch sections coming to market   7 Mar 2012

Paul McBeth

The Canterbury Earthquake Recovery Authority says 26,000 sections should be coming to market for development in the devastated city of Christchurch next year.

Chief executive Roger Sutton told Parliament’s finance and expenditure committee the pace of the department’s work has accelerated since its inception last year, and it has paved the way for some widespread residential property development to house displaced locals.

“Twenty-six thousand sections within the greater Christchurch region are available for development,” he said. “Hopefully by next year we will have those properties on market.”

Property values are increasing in Christchurch, according to last month’s Quotable Value figures, and ASB’s housing confidence survey shows house price inflation expectations are greatest in the country’s second-biggest city.

Sutton said the speed with which it’s moving has attracted all kinds of investors looking for greenfield opportunities and he’s optimistic about the city’s future.

CERA is working through some $2.5 billion of infrastructure reconstruction, with water, sewage, electricity and telecommunications networks at the front of the queue before new roading is installed.

Sutton came under fire from Labour Party MP Lianne Dalziel, who said residents in the ‘red zone’, where the government decided homes were uneconomic to repair, were given a Clayton’s choice in voluntarily accepting the government’s offer.

Last year, Prime Minister John Key and Earthquake Reconstruction Minister Gerry Brownlee announced an offer to residents in the ‘red zone’ to either sell property and land to the Crown at a pre-September valuation, or sell the land only to the government leaving the resident to deal with the insurer.

CERA still has at least a year to work through demolishing buildings in Christchurch’s central business district, and the department is trying to recycle as much material as possible, Sutton said.

The Earthquake Commission also appeared in front of the committee and chairman Michael Wintringham said the department is working through ways to pay a cash settlement over the increased susceptibility of land to future events.

(BusinessDesk)

Add a comment

Bookmark and Share

News

Celebrating women’s right to vote

16 Sep 2014 News
Women’s Affairs Minister Jo Goodhew has celebrated the 121st anniversary of women’s suffrage with an event recognising... more

Eminem publishers sue New Zealand National Party

16 Sep 2014 Politics
Eight Mile Style Eminem Publishers Sue New Zealand National Party for Alleged Infringement of “Lose Yourself” ... more

Business

Greenwald posts article on NZ spying allegations

15 Sep 2014 Business News By Fiona Rotherham
Article - BusinessDesk   Greenwald posts article on spying allegations ahead of 'Moment of Truth' event By Fiona Rotherham Sept.... more

NZX questions Vista's 24% gain in past two weeks

15 Sep 2014 Business News By Suze Metherell
Sept. 15 (BusinessDesk) - Vista Group International, the cinema software and data analytics company, has been issued a please... more

Living

Pop superstar Lady Gaga using Shuttlerock's kiwi software

15 Sep 2014 Environment By Fiona Rotherham
Sept. 15 (BusinessDesk) - New Zealand visual marketing software company Shuttlerock has added Lady Gaga to its client list. While... more

German, Kiwi films big winners at Uni Shorts 2014

15 Sep 2014 Entertainment
AUCKLAND: German filmmakers dominated the awards at the third annual Uni Shorts International Student Film Festival held over the... more

Property

Auckland house sales drop in August as winter, election weigh

3 Sep 2014 Property By Paul McBeth
Sept. 3 (BusinessDesk) - Auckland house sales fell for a third month in August and the number of listings remained muted in the... more

House sales down as winter cools market - REINZ

14 Aug 2014 Property
New Zealand house sales fell in July as winter cooled the appetite of house hunters while a drop in properties selling for $400,000... more

Migration

Reserve Bank says migration impact on housing 'muted' so far

11 Sep 2014 Migration By Suze Metherell
Sept. 11 (BusinessDesk) - The Reserve Bank is keenly watching the impact New Zealand's decade-high net migration inflow is having on... more

Who's living next door to you?

20 Aug 2014 Migration
Statistics NZ puts out detailed data on different ethnic groups, down to the 108 people from the Isle of Man. Did you know there are... more

Travel

Longer Wellington runway worth 2-5 flights daily by 2060

11 Sep 2014 Travel & Tourism By Pattrick Smellie
Sept. 11 (BusinessDesk) - Plans for a $350 million runway extension for Wellington International Airport would provide the capital... more

NZ guest nights rise in July

10 Sep 2014 Travel & Tourism By Suze Metherell
NZ guest nights rise in July on school holidays, record short term visitors   Sept. 10 (BusinessDesk) - New Zealand guest... more

Sport

Last race puts ETNZ on top

15 Sep 2014 Sport
Emirates Team New Zealand Today’s pictures are here Emirates Team New Zealand has won Act 6 of the Extreme Sailing series today... more

All Blacks hold off great foes South Africa

14 Sep 2014 Rugby
In the end it was down to some belligerent and tireless defence from the All Blacks, and a couple of moments of sublime from Kieran... more

Columns

Gordon Campbell: the Greenwald/Snowden revelations aftermath

16 Sep 2014 Opinion By Gordon Campbell
  Gordon Campbell on the aftermath of the Greenwald/Snowden revelations [See correction below. link] The credibility issues... more

Gordon Campbell on the Glenn Greenwald revelations

15 Sep 2014 Opinion
Column - Gordon Campbell   Gordon Campbell on the Glenn Greenwald revelations All that hanging out with the All Blacks clearly... more

Kiwi Success

Prestigious Awards in Psychology

10 Sep 2014 People
The New Zealand Psychological Society (NZPsS) -the largest membership association for psychologists in New Zealand, offers awards... more

The duo behind NZ's hottest new label

20 Aug 2014 People
We're expecting big things from Harman Grubisa, the new label from Auckland-based friends Madeleine Harman (right) and Jessica... more

Recruitment

Paramedics in NZ jump at opportunity of London career

11 Sep 2014 Recruitment
Paramedics in New Zealand jump at opportunity of a clinical career in London Paramedics hoping for a chance to work for the... more

High dollar, hands-off Govt sends workers to dole queue

22 Aug 2014 Recruitment
The loss of up to 100 jobs at Croxley stationery in Auckland is devastating news for their families and the local Avondale... more