LAND VALVES SHOW A STEADY RISE

Bay of Plenty Beacon, Volume 15, Issue 100, 25 September 1950, Page 5

LAND VALVES SHOW A STEADY RISE

Lgnd values were showing a definite rise, according to a valuer but - they had not reached a stage where they could be regarded as being “abnormal.” He said that there were a lot of big sales being put’' through in the four main centres—Whakatane, Tauranga, Opotiki and Te Puke —of which the public generally were not aware. In the last six weeks he had handled deals on properties involving £150,000 and the prices in all cases had been high. They had averaged from £BOOO to £IO,OOO a sale. Although prices were rising on business property and land the same could not be said for houses. While houses were expensive today they were not anywhere near the figure that was expected when the land sales restrictions had been lifted. Other buildings, especially those used for business purposes, were changing hands at high figures, but the prices did not approach the present-day costs of new buildings.

Most .of the property deals, the valuer continued, were not being handled by land agents. The expected increase in business in this quarter had not eventuated because most of the sales were being done privately, often between the tenants and owners.

Asked if he 'expected the present activity to continue the valuer said that he could not see any slowing up of deals in the immediate future.