PROPERTY ROOM PREDICTED

Ashburton Guardian, Volume 70, Issue 109, 21 February 1950, Page 4

PROPERTY ROOM PREDICTED

COMMENT BY MR C. F. SKINNER HIGHER RENTALS AND MORTGAGES • (P.A.) WESTPORT, February 20. “When land sales controls were removed in Australia property sales boomed, with prices CO per cent, to 100 per cent, above those ruling before the controls were removed,” said Mr C. F. Skinner, M.P., Minister of Lands in tbe Labour Government, to-day.

“We can fexpect the same to happen here, perhaps not to quite the same extent because the thousands of houses built during recent years by private persons and the Government have eased the demand for house properties in New Zealand, but a property sales boom, with speculation and high prices must be expected, particularly in business and industrial properties. “It is hard to follow the reasoning of the Prime Minister when he says that the sale of farm land must still be controlled to protect former servicemen who want to settle on the land. It would appear that thousands of former servicemen wanting to build and buy homes are not to expect any consideration or protection from the National Government.”

Mr Skinner predicted that what the Government proposed doing would result in higher rentals, greater mortgages, and higher prices for both property and goods, but that it would not bring one additional home into being.