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Re: [sharechat] Property Vs Shares

From:	"DR" <kat47@bigfoot.com>
Date:	Fri, 22 Jun 2001 22:04:07 +1200

There is also one quite hidden item in the apparent increase in house prices over many years that was highlighted in a study done by University of Auckland (sorry not to hand). This is that houses are getting bigger in size and value. The U of A study looked at houses which had not been altered or added to on resale and found that they had increased largely in line with inflation only.

I have my own example:

House built 1972 for $24500 incl land (2550sqft)

Added to 1985 for $17000 (+600 sqft)

Added to 1997 for $105000 (+850 sqft)

Sold 2001 $610,000

Estimated value in 1997 at the peak of the market was $720,000

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