WELLINGTON NEWS

Hokitika Guardian, 22 June 1927, Page 1

WELLINGTON NEWS

TRANSFERS OF LAX I). (Special to “ Guardian.”) WELLINGTON, dune 18. In the Monthly Abstract of Statistics there is given each month an interesting table showing the transfers of land. For the year ended March til, 10i?~. there were 25,051 transfers of town and suburban properties as compared with ”(>.138 in the previous year, a decrease of IS7. and the consideration was L'l 7, L 75,289 against 17.857.GU1. a shrinkage of £081.775. There was also a shrinkage in the transfers of country properties both in number and in 1 lie amount of consider-

ation paid. Tile number was 8155 against 11320. a decrease of 863, and the consideration L'13,1(5-1,473 against P 17.333,3 111, a decrease of £2,171.07(1. The aggregates show 31,103 transactions against 35,458, n .shrinkage of 1332 and the consideration £32.331),702 against £33,11)2.103, a decrease of £2.832.831. The average price paid for the 23,031 transactions in town and suburban properties was £O7O, while in the previous year the average was CPS 3. The country properties show an

average value of £1703 against £IBOO, so that both classes of properties declined in value, especially country properties. The figures for April, however, show ail improvement. The number of town and suburban properties transferred in April was 1320 as compared with 1773 in the corresponding month of- 1020. a decrease of 219. ami the number of country properties t ralisten ed was -178 against 731> a decrease of 201. and these figures show that business in real estate tends to contract. The consideration paid For town and suburban properties was £1,020,310 as compared with £1,228,013 and for country properties £777,320 against £1.172,087. The average of the town and suburban properties transferred was £001) against an average of nearly £7OO in the corresponding month of last year, and the transactions in country properties showed an average of £IO2O against £ISBO. The consideration paid for country lands oil the average shows an increase which would appear to indicate that values are tending to stabilise. The transfers of town and suburban properties in the month of April in the Xortli Island were 000 and consideration £030,107 and in the South Island 300 and consideration £383.239. The average consideration on the Xortli Island transfers works out at £OO2 and in the South Island at £OBO. The transactions in country properties in April show that there were 237 in the Xortli Island, the consideration being £101,120, and in the South Island 227 transfers and the consideration £372.!) 11. the average value in the Xortli Island works out at £1373 and in the South Island at £IOB7 and apparently country property in the South is more valuable than in the Xortli.

TUT. SFASOX'S RXPORTS. Right months of the dairying season closed with the end of April, and the export figures show decreases in both blitter and cheese when compared with the figures of the. corresponding eight months of the previous season. The value of the butter exported was £7,311.159 against £7,803,109 in the season of 1920-20 and ,£10,209,597 In 1924-25. There was thus a contraction of £292,010 compared with last season and £2.758.438 compared with 1921-25. The cheese exports show £3.725.928 against £4.075,015 in the last season and £4,931,201 in 1925-25. Taken together the values were £11,238,137 against £12,478,184 in 1925-20 and £10,200,801 in 1924-25. Part of the shrinkage is due to heavier stocks being held in the Dominion pending shipment in accordance with the policy of the Dairy Control Board of regulating shipments. The wool season began in November and for the six months to the end of April the exports were valued at £0,507,100 against £9,530,517 in the past season, and £14.514,940 in 1924-25. Compared with two years ago there is a shrinkage of £5,007,840. The frozen meat exports for the six months to the end of April were valued at £3,988,809 against. £4,958.252 in the hast season and £5,527,038 in the 1924-25 season. Compared with last season there is a contraction of £009.353, and of £1.538.139 compared with 1921-25. The season 1921-25 saw produce prices at their peak and compared with that season the principal items of export show a decline of £19.509.793. If the current season’s prices represent merely a temporary set-hack then there is no occasion to worry, hut the indications are that tic present low prices have conn to stay, and therefore if is necessary to adjust internal costs ami prices to correspond with external prices, and until we do that we shall experience many economic t roubles.