WELLINGTON NEWS

Hokitika Guardian, 16 August 1927, Page 4

WELLINGTON NEWS

IUSAL estate business

(Special to l * Guardian.’’)

WELLINGTON, Aug. 13

Statistical information relating to land transfers under the Land Transfer Act are given in the Monthly Abstract of Statistics, and ns these figures indicate the trend in real estate business they arc worth analysing. The transfers of town and suburban properties arc distinguished from those of country properties, which is rather convenient. The figures for the half-year ended .June UOth are now available and these show that the number of transfers registered during the period was 11,269 and the consideration was £7.502.A11. which contrasts with 12.299 transfers and a consideration of £8.091.888 in the corresponding half of last year. There was thus a shrinkage of 1.010 In the number of transfers and of £529,557 in the consideration. The average consideration for each transfer in the first half of this year was £O7l, while in the first half of last year the average wa.£O6O, so that there has been a gain ol fill on the average showing that tin values of town and suburban properties are being well .maintained. Examining the business done in tin two islands during the iirsi six month of this year, the figures -bow that n the North Island there were 7.5:1 transfers and the coifsiiieratini £5.317.307. while in the South Islam the transfers were 3,738 and the con

sideration £2,2-14,93-1. The hulk of the i'aml business centres in the North Island. The average consideration per transfer in the North island works out at £7OO or £33 above the general average while the figure lor the South Island is UliOO or .£7l below the general average. In tile Auckland District the transfers of town and suburban properties registered numbered 37”_ M .». and the consideration .£2, 162.938, and the average .£(>(>(). In Wellington the figures are 2870 translers, .£2.323,331 consideration, and the average stands at .£BIO or £l5O above the average ol

Auckland, showing that town and suburban properties are dearer in Wellington than anywhere else in the Dominion. Taking country properties the trails- J let's registered during the first six months of this year numbered 3-109 and the consideration £3.118,854, as compared with *1055 transfers with consideration at £7,-123,325. There was thus a contraction of 093 in the number of transfers, and of *£1,273,471 in consideration. ’ihe average consideration for this year is .£IBOO against £IB3O in the first half of last, year, a decrease of £3O, showing that there has been a drop in the values id country properties. The division of this

ci'ass of business between the two islands shows that the trauslers numbered 2133, and the consideration £3,983,232, and in the South Island 12-10 transfers and the consideration £2,183,822. In the North Island the. consideration per transfer works out at £1832, or £32 above the general average and the South Island consideration is equal to £1754 per transfer or £l3 below the, average. Taking the two columns of properties together the figures show that there were 14,078 transfers and the consideration £13,711.185, as compared with 10,331 transfers with consideration of £15,514,213 in the first half ol last year. ' MORTGAGES.

Probably because ol the contraction in real estate business, and also because of a contraction in funds there is a tendency for the amount of advances on mortgage to decrease. 1 lie figures for the twelve months ended June 30th last show that the registrations of mortgages amounted to £36,437,039. as compared with £40,959,708. a decrease of over £10,500,000, j

nliile the discharges totalled £'21i,680,7(55, against £33,284.509, a decrease of £G,GOO,O'JO, while in .1925-215 the registrations exceeded the discharges by £13.(>75,2(58, in tlie year just ended the excess was onfy £9,75(5,274. This shows that mortgagors are unwilling or unable to repay mortgages, while there j is obviously a reluctance on the pari 1 of investors to indulge in this class ol j investment. The private investor can-' not offer the very liberal terms given by the Advances Department, and therefore his attention is being devoted to other forms of investment.

The curious habit so common in Aiiici'icii. of popping an unliglited cigar’ in the mouth and chewing ;in inch or 1 two of It t;s pulp, is not popular with us, although the crowing of black plug tobacco is common enough amongst sailors everywhere. However with the rank it nil file of Englishmen ‘'the pipe’s the thing” and n source of en- ■ joyinetit, ihtily, to millions. But dis- j crimination should he exercised in Iho ciioiee of tobacco. Brands full of nicotine (as the American tobaccos usually arc) ought to ibe cut out. because nicotine is the source of all the mischief when tobacco proves injurious. Our New Zealand grown, tobaccos are about the purest going and contain only a trifling jioroentnge of nicotine—a negligible quantity. That is why you can go on smoking them all the time with the utmost safety. They won’t do you any harm. And they are delightfully fragrant. You can get them of any strength. Ask for ‘‘Rivei-hcad Gold,” mild, ‘‘Navy Cut” (Bulldog) medium, or “Cut Plug No. 10” (Bullshend) full strength.—Advt.