DEMAND FOR LAND

Gisborne Herald, Volume LXVI, Issue 20091, 10 November 1939, Page 5

DEMAND FOR LAND

FARMS IN THE WAIKATO SMALL AREAS WANTED » BUYERS PAY HIGH PRICES There is a keen demand at present for farm properties in the Waikato. In many cases land agents arc having difficulty in securing properties to suit the prospective buyers. It is stated that few farms of up to 100 acres are being offered for sale, although many inquiries have been received for this type of property. Owners of these farms appear reluctant to sell, even when very favourable prices are offered.

It has been noticeable that a number of men whose businesses have been seriously affected by the impport restrictions have been investing capital which cannot be otherwise used in farm properties. Transactions in most cases have been completed for cash.

For the first month after the outbreak of war, few deals were completed. but in the Inst six or seven weeks there has been a stream of inquiries. It appears as if people are settling down to the war conditions and are investing in farm properties with the object of finding security for their capital.

Prices for properties in country districts are the highest for the last two or three years. L T p to £OO an acre has been paid for small farms in the Waikato. In what might be classed as the backblocks districts the demand for properties has not been so keen, and consequently prices are lower.

One I factor which has prevented many people from completing transactions has boon that the ingoing deposin', have been 'mo nigh. Most buyers are prepared to pay up to £IOOO, but in many eases the deposit wanted is much higher.