HARBOUR BRIDGE

Hokitika Guardian, 9 August 1927, Page 3

HARBOUR BRIDGE

JUMP JN SYDNEY LAND VALUES.

SYDNEY, July 22

The healthy tone of the real estate market reflects the extraordinary development that is taking place in S.'dnov just now. Huge undertakings, such a.s the harbour bridge, the city railway, and the big municipal resumptions, are all tending to increase metropolitan values, and to improve the demand for land, especially lor home sites within a thirty or thirty-live minutes’ radius of the city, following the gradual electrification of the railway system. The bridge, tor example, "ill link about !K)0.()00 people to about 200.000 across the water, and will bring a vast stretch of ideal residential land within a short run of the city.

The experience of leading agents is that the great majority of sales of subdivisional land are now made to homeseekers, where formerly most buyers took up this class of land as a speculation. Home ownership is uiuluubtodi'y having a great moral efiert on the community. Employers are naturally not slow to recognise that a man with His own home, which in most eases he is paving off, is usually a much more responsible employee than the man who is content to rent a house.

A significant circumstance is that .Melbourne investors a.s well as big Melbourne houses are freely purchasing Sydney freeholds. They possibly see the time, not far distant, when, with the Eederal capital in full swing. .Melbourne will he completely overshadowed by Svdnev, with its greater accessibility to Canberra. Sydney, in fact, during the “ off season ” in Canberra, "ill practically lie the Federal capital. That is the general opinion of Federal politicians.