THE DEMAND FOR HOUSES.

Dominion, Volume 6, Issue 1764, 31 May 1913, Page 5

THE DEMAND FOR HOUSES.

RISING RENTS. The demand for dwelling houses in Wellington is stated to havo increased very rapidly during tho past twelve months. A prominent business mail im the city, who is largely interested in real estato and houso property, briefly reviewed the position. in conversation with a reporter yesterday. "Eighteen months ago," ho said, "it was estimated that there were from 1500 to 1800 empty houses in tho city, and 3 do hot think tlio estimate was. excessive. Now very few houses are empty, unless thero is something badly wrong with them. Eighteea months agp we were glad to let for 18s. a week lioujfcs which previously had .earned a rent of 275. Gd. a week. It was a big/drop, but moro loss was caused by houses standing empty than by reductions in rent. Now we are finding it possible to, raise rents a little. I know of ''several recent instances in which rents have been raised Is. a week. Tlio change 19 due, of course, to the fact that there are more people here. A couplo of ysars ago people were flocking out of Wellington, out lately many have returned. The stoppage of publio works in New Scnitli Wales has had something to do with it, and a good many tradesmen have also returned from .Auckland." The same authority expressed tho opinion that Auckland was likely to undergo much the samo experience in the near future as had lately beiallen Wellington. "Tfcy have been 6raart enough to got up an exhibition, an<l this will help to make business brisk for a time," ho remarked, "but it is proverbial thta an exhibition is usually followed by dull timts. Dunedin," ho added, "seems to bo the one big'centre in the Dominion which' is immune from these passing waves of prosperity and depression. It had. its slump thirty years ago, and has enjoyed reasonably buoyant trade conditions ever since recovering."