Page 5 Advertisements Column 3

Gisborne Times, Volume XXVI, Issue 2337, 2 November 1908, Page 5

HIGH HOUSE RENTS.. THE POSITION IN AUCKLAND. An Auckland writer states, tint just now it is not only very difficult to rent houses in the Auckland suburban area, but there has been a substantial all-round increase in rents, due to several causes. The supply of house accommodation is absolutely unequal to the demand. .House agents declare that they could dispossess any good tenant with the absolute certainty of getting another tenant at an increased rent. Many people who would like their own homos have perforce to live in boardinghouses because they cannot rent houses. The keenest demand is na-

:,urally for the house of comparatively "small rental, but other classes me almost as difficult—to get. The principal reasons for the advance in Auckland house rents appear to be the very few houses now being built for renting, and the number of people who are purchasing homes on the small: deposit system, and. thus lessening the supply of houses that were formerly rented. There are many purchasers who are willing to put' down £SO, or even £IOO, "deposit for a home, paying off the balance of the purchase money as rent. There is a fair supply of such properties available, but they are being disposed of very quickly. Notwithstanding the demand for these properties, there has been practically .no increase in capital values, though this may,* and probably will, come before long. At the present time, however, prices for houses purchased: on the deposit system arc moderate, and there has been no increase to speak of. Many householders who could not get places on a rental are acquiring their homes in this way. There is some ..talk of a. building society being formed at Wellington to meet the Auckland deainnd for small houses* at a moderate ron tel.