Alleged Profit On Building Sections
Profit-making by speculators who outbid ex-servicemen for building sections at auctioris should be ended, the’ l Auckland Trades Council has decided. It will propose to the Minister of Lands that where building sections are sold by this method, the Government should take them over and offer them to workers requiring homies. Protests had been made that where sections are offered for sale by auctions, bids well above the market value were made by speculators in anticipation of a reduction in the price by the Land Sales Court. This was a severe handicap to ex-servicemen. The Minister of Lands, Mr Skinner, in a letter to the council, said he appreciated, that there were cases where bidding did exceed the* true price of sections, and that ex-ser-vicemen were unable to follow this to the limit. However, he could see no practicable way of changing the auction selling, unless that system were abandoned altogether.
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https://paperspast.natlib.govt.nz/newspapers/BPB19490126.2.37
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Bay of Plenty Beacon, Volume 13, Issue 46, 26 January 1949, Page 6
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156Alleged Profit On Building Sections Bay of Plenty Beacon, Volume 13, Issue 46, 26 January 1949, Page 6
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