VALUES HIGH

Dominion, Volume 12, Issue 147, 17 March 1919, Page 5

VALUES HIGH

FOR RESIDENTIAL PROPERTIES.

"House hunger" still exists in Wellington to an extent probably greater than ever before. It was thought that tho termination, of hostilities would herald a drift away from the Empire City on the part of those who had taken up their residence here to be near headquarters, whilst their soldier relatives were away, but now, four months after the armistice, congestion is as rife as ever, and the heart of the housebroker rejoices. Why ho should be glad is because of the fact that people, being unable to rent liouses, or rent them at a. reasonable figure, are being forced to buy, and tho fact that the eager purchaser is about has a. trick of forcing up values. Indeed, many cases could be quoted as showing that he does the forcing himself by offering- a figure likely to tempt tho owner. The prices now being paid for ordinary four, five, and six-roomed houses stagger outsiders, and simply amaze those who como from the Old Country. Only recently 6ome cottages— five-roomed, at least a quarter of a century old—wore sold for ,£2OOO each, whilst properties in favoured areas are proportionately high-priced.