TARANAKI LAND VALUES
' In the course of the hearing of argument in respect to the _ distribution of farm lands under the will of a farmer, .late of AVhenuakura, near Patea, [Nil*. P. O'Dea, solicitor, of Havers, said that fn Taranaki they were paying up to ■<£150 per acre for dairying land, only about JilO per acre being paid by way of deposit, tho balance being on mortgage. Sometimes there were five and even six mortgages oil a property, and because of these small deposits and big mortgages the land was inflated in value. Tho Chief Justice: What would this land carry—a cow to two acres?
Mr. O'Dea: The land I have in view would <1» better than that. It would ■carry a cow to an aero and a third. , People ore paying these high prices iw . hoping to sell out next season at a, profit. This is jijoing on throughout Taranaki, . and it is very probable that the last buyer, and perhaps others, will suffer. ; The payment of the small deposit is . mainly responsible for the inflated values. The Chief Justice: I have seen thToo land 'booms collapse in New Zealand, and I suppose we mil £ee another collapse ■ shortly.
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Dominion, Volume 12, Issue 229, 21 June 1919, Page 10
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200TARANAKI LAND VALUES Dominion, Volume 12, Issue 229, 21 June 1919, Page 10
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