How do the changes affect house prices?
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Key messages:
Development potential will increase in the new zones, ‘Mixed Housing Urban - Modified’ and ‘Terrace Housing and Apartment Building - Modified’. Once the potential increases, this might increase the market value of that site.
The changes will supply additional Mixed Housing Urban and Terrace Housing and Apartment Building zoned land. Supply of additional land might stabilise the market value.
There are additional factors such as size and shape of land or restrictions such as geotechnical issues or flood plains that will come into play when it comes to market value of a section.
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