REAL ESTATE INSTITUTE

Evening Star, Issue 23369, 12 September 1939, Page 3

REAL ESTATE INSTITUTE

ANNUAL MEETING OF BRANCH THE HOUSING PROBLEM A plea for every member to carry on to the best, of his ability until peace was restored and business would be able to pursue its normal course was made by the president of the Otago branch of the Ileal Estate Institute of New Zealand (Mr Queleh) at the annual meeting, held in the Vedic supper room yesterday afternoon. There was a small attendance of members. REPORT ADOPTED. Moving the adoption of the annual report, tlie Chairman said that since the report was issued New Zealand had become a participant in the war. In consequence of changed conditions it was only to he expected' that real estate as well as other business would be greatly affected. For the support and assistance given him during his term ol office lie thanked the Executive Committee, the members, and the secretary. The motion was seconded by Mr J. A. Macdonald, who said that it was gratifying to all that the institute was going ahead and increasing its membership. He expressed appreciation of the efficient work done during the year by the president. He also mentioned that a Valuers’ Institute had been formed in New Zealand, and the fact that the Otago real estate agents had been made fellows indicated that the members of the institute had the confidence of the public. The future was extremely uncertain, but they could do no more than their best in the circumstances. Mr A. M‘Millan said that the housing problem was more acute at the present time than ever before, principally as the result of the difficulty of obtaining finance. The State Advances Department no longer provided facilities for financing the building of bouses, and the Dunedin Savings Bank had had its activities restricted in that respect. As a result there was no chance of a working man obtaining a section and building a house. He commended the Government for its attempt to deal with the position, but said that its original aims had not been fulfilled, for it should have been the first to give the houses to people with large families, and it should also have given people an opportunity to own their houses. He suggested that if the Government had advanced up to 90 per cent, of the cost of the houses people who were otherwise prevented by lack of finance from purchasing properties would have been able to do so. Mr P. W. Stabb also spoke to tbe motion, and said that the Government had started the housing scheme from the humanitarian- viewpoint, but had subsequently found it necessary to apply sound business principles to the scheme, and consequently had given the houses to those who were considered to be the best tenants. If, however, any difficulty were to be experienced in obtaining rents from people with large families, the Government should be the first to take the risk. He suggested that if the Government had instituted a system in which it was prepared to grant money on second mortgages for the building of houses, private enterprise would have been encouraged, and the financing of house building would have been made considerably easier. The report was adopted. ELECTION OF OFFICERS. The following office-bearers were elected ' for the ensuing year .-—President, Mr J. A. Macdonald ; vice-presi-dents, Messrs H. L. Young and T. Irvine; committee—Messrs A. W. Macdonald, L. A. Rhodes, R. S. MTvenzie, R. M‘K. Wilkie, P. W. Stabb, D. M. Spedding, L. J. T. Ireland, and J. W. Timlin. GENERAL. A suggestion from the Auckland branch that the annual conference of the institute in Wellington should not be held iiv the meantime was approved. it was decided to offer the services of the Otago branch of the Real Estate Institute to the Government for any use to which it could bo put. A recommendation to the executive that the Government be approached with a view to providing facilities for the placing of men on small farms was carried. A vote of thanks to the retiring president was carried by acclamation.