WELLINGTON NEWS

Hokitika Guardian, 22 May 1928, Page 4

WELLINGTON NEWS

LAND transactions

(Special to “ Guardian.”)

WELLINGTON, May 18,

Jn the Monthly Abstract figures are given allowing the transfer of, land under the Land Transfer Act, town and suburban transfers being differentiated from country properties. In March last there were 2092 transfers of town and suburban properties as against 2162 in the corresponding month of last year, a drop of 69, and the transfers in the North Island numbered 1388, and in the South Island 704, so that nearly double the amount of business was done in the North Island than in the South Island, and that tendency was maintaned throughout the year. The number of country properties transferred during the month was 582, of which 301 were in theJS'orth Island and 221 in the South Island, and it is only reasonable to expect that more business would he done in the North Island where there are more farm properties available. The figures for a single month are not of much value for forming any opinions, and therefore it is saler to deal with the figures for twelve months. for the year ended March 31st last there were 23.374 transfers of town and suburban properties as compared with 25,561 in the previous year, a decrease of 1917, and the consideration was 016,486,362, as against C 17,157.239 in the previous year, and the average consideration per transfer works out at £605 against £669. There were fewer transactions but prices were higher.

The same features are noticeable with respect to country properties. In the year just closed the number of transfers of country properties was 7409 against 8-155 in the previous year, a decline of 1046, and the consideration was £13,671,476 against £15,164,472, the average per transfer being £1845 against £IBOO, an increase of £45 or about- 2 per cent. There is no doubt that buyers of farm properties are taking a conservative view of values, and that there is an advance in the average would seem to indicate a better demand, on the other hand the advance in prices which seems to have taken place may have checked business and accounts for the smaller number ol transfers. One could well wish that more of the abandoned farms are being brought into occupation. DANISH AND N.Z. BUTTER.

For some time past a wide margin has existed in the prices of Danish and New Zealand butters, and some light is thrown on the matter by the AngloContinental Produce Coy. Ltd. This firm says that a noticeable feature ol the market recently has been the fact that Danish and Colonial butters are entirely two separate markets, and the price of Danish is not influenced at all by the quantity of New Zealand and Australian butter that comes along. So long as Denmark has 33,000 cwt to 38.000 cwt of butter to export to Britain per week it looks as though it docs not matter what the retail price is, this quantity clears and it is only when her supplies increase that the Danish market comes more into line with that of New Zealand.

There have been good quantities ol New Zealand butter shipped to Manchester. Liverpool and the West Coast ports, and there has always been a stock lying in the store up north, yet this has had no effect upon the Danish trade for the reasons stated. There is now an agitation to get more New Zealand butter to Manchester, but li New Zealand shipped the whole of her product we do not think it would in any way help in getting the New Zealand farmer a. better price for his butter, but, on the contrary, it would tend to lower the mines, and in order to get the best price for New Zealand buttei it is necessary to centralise more instead of decentralising, and if all the butter came to London, instead ol having competition from Manchester and other West Const ports, the average returns would be better.

Latvian and Esthonian butters are fetching extreme prices and are chiefly hought"by the Wenders, who sav that they cannot rely upon .the colonial butter keeping without lot though it is a fact that much New Zenlamfaml Australian butter lias been shipped for many years without preservatives. when this butter was bought bv the blenders they added preservatives in order that their rolls would stand in the shops for at least fourteen days. Now that preservatives are forbidden they find it necessary to buy a certain amount of Continental buttei to blend with wliat colonial they buy.