Our New Settlement.

Hutt News, Volume 1, Issue 14, 7 October 1927, Page 3

Our New Settlement.

One of the most encouraging sections of the annual Railway Report presented to Parliament last week is that devoted to the new settlement in the Valley. From the figures available, it appears that to date, 682 acres have been purchased at a total cost of £181,000, while all but 213 acres have been disposed of. The report states that the 225 acres already disposed of or in process of being sold are expected to realise £231,448. The Railway Department itself has taken a total of 109 acres for various purposes, roads and reserves have used up another 135 acres, thus leaving 438 acres for residential purposes. The sum expected to be realised from the actual and potential sales of land is made up in the following manner:—3oß residential sites £97,338, 290 sections for workers' dwellings £47,960, 4 industrial sites £24,450, 3 school sites £10,000, church sites £3,000, railway requirements in toto £48,700; total £231,448. The report states further that the land still to be disposed of was purchased at a cost of £50,000, which means that the land either already disposed of or included in the above schedule as in process of sale actually cost £131,000, the profit on the sales being thus set down as £100,448. It is interesting to note that the average cost of the land was in the vicinity of £265 per acre, while the average selling price was about £666 per acre. If the land remaining to be disposed of is sold at a price equal

to that already realised, the return for the total area will be something in the vicinity of £359,000, and the betterment should realise something like £180,000 roughly. This amount, in order that the scheme may be a financial success, must pay for the cost of the construction of the railway, roading, drainage, etc. So far we have not to hand any figures which will indicate whether this can be done, but the tone of the report is optimistic, and suggests that the Department is confident of bringing its venture to a successful conclusion. If this result is achieved, it will be a distinct feather in the cap of the Government, for we can recollect no other example of this type in New Zealand. And indeed, not only the Government but the Borough Council merits considerable praise for the efforts which have been made to solve the housing problem in a practical manner and to open up the land hitherto of comparatively small value.