THE LAND MARKET

Dominion, Volume 9, Issue 2837, 31 July 1916, Page 10

THE LAND MARKET

The war at first caused a cessation of. large land purchases, but recently' the market seems to. have quite recovered itself. • llr. G. E. Aldertou, -of . the Auckland 'firm of Messrs. T. Mandeno Jackson, .who. is now in Wellington, informs us that the market in the Auckland Province is particularly active, and during the last six weeks over =8200,000 worth has been sold in the North Auckland district, and between 20,000 and 30,000 acres of pumice lands- in the Patararu-Atiuniuri district have been sold, Mr. ■ Duncan Cameron, of Canterbury, being the largest purchaser. In the-North Auckland district, Messrs. T. 'Mandeno Jackson, sold to the Nukutnwhiti Land Co. 6000 acres of the block of that name, with the stock thereon (this is a Canterbury company); 6500 acres of the Maugakowhara Block, to Messrs. H. and S. AVorsp; and the "YVaioreore" estate, AVhangarei, of 3000 acres with 5000 sheep and cattle to Mr. Edward . Murphy, ol Gisborne. These three sales ran into over i;lCO,000. In the same district Mr. R. J. Bell, of Blenheim, also bought a block of over 6000 acres, belonging to Messrs. AVhite, Nelson, and Eraser. Very substantial cash payments were made on these properties, indicating that money for investment is plentiful. In two cases all cash was paid, and in another case the vendor was offered all 'cash, and declined to take more than one-third, preferring to leave his money on the property. Asked whether the war has affected laud values, Mr. Aklerton replied in the negative, and said the properties above referred to had really been sold on their pre-war values, but money left on mortgage had risen one half per cent., namely, from 5 per cent, to 5,V per cent— (Published by arrangement.)