Lord of the Rings sends house values soaring

Lord of the Rings and not leaky buildings appears to have had an impact on Wellington residential property valuations with the average value of a Seatoun home up nearly 25 per cent on last year.

Thursday, November 28th 2002, 7:37PM

by The Landlord

Other inner city locations in demand were Mt Victoria where values increased 15.6 per cent, Thorndon up 11.9 per cent, Roseneath-Oriental Bay and Brooklyn which were each up 8.7 per cent.
Mr Blucher said values for inner city apartments had remained static with most tending to fall below $400,000.
Miramar house values, where special effects film company Weta Workshop and Weta Digital was based, were up 5.7 per cent and commercial property values soared 11.7 per cent.
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