MORE REASONABLE

Evening Post, Volume CXII, Issue 60, 8 September 1926, Page 5

MORE REASONABLE

LANDS FOR SUBDIVISION

OFFERS FROM OWNERS

HARDENED VALUES EASING.

Offers received during the present calendar year indicate that owners of large properties suitable for subdivision are now willing to offer them at a more reasonable figure, and since the close of the financial year three estates, totalling 14,252 acres, have been purchased; while negotiations in respect of two other properties, approximating 20,000 acres,, have reached a stage that gives a.reasonable prospect of successful negotiation. The above remarks are made by the Land Purchase Controller (Mr. J. D. Ritchie) in his annual report. Mr. Ritchie says that.the extremely high prices ruling for wool, mutton, and lamb during 1921 and the early part of 1925 had the effect of hardening the values asked for pastoral lands, and consequently the sales of large properties, either- to the Crown or privately, were practically negligible during, the last financial year. Although during that period the board.closely inspected several large properties, which at first glance appeared reasonable in price, careful calculations' showed that the loading necessary for roading, fencing, and buildings would have raised the rental values to prospective settlers to such a high point that success could not be reasonably assured, and therefore purchase by the Crown could not be recommended. During the year ended 31st March, 1926, considerable areas of second and third-class lands, mostly in localities difficult of access, were placed under offer. to the Crown,, but the board had not been abloto recommend the purchase of. such areas, for the reason that it was of the opinion ■ that they were entirely unsuited for closer settlement—being only suitable.for holding in comparatively large areas by , those having capital available to work them. "It is considered," says■ the report, "that in: purely - sheep-grazing land -of low-grade fattening' capacity a minimum of from 1000 to 1500 acres is required to assure a reasonable living for a family, for the reason that with such land there is a strong tendency towards reversion, to. manuka and native grasses :every .few .years. Although for many years such' lands have been successfully farmed by capable men in areas of 2500 acres and upwards, recent investigations under. the discharged soldiers' revaluation have . gone to show, that this type of land cannot be settled successfully in small areas unless it is in close proximity to good transportation facilities which will permit of the use of lime and other topdressing mixtures at the lowest possible prices. "During the year there have been several applications for. the formation of associations under the Land Settlement Finance Act, which undoubtedly offers facilities for the subdivision of improved properties. The legislation, however, is in need of amendment in several respects before it can be applied with any prospect of success, and pending action in that direction it is not proposed to form.any new associations." '