PALMERSTON LAND SLUMP.
In the course of enquiries made concerning the land market, a Manawatu Times reporter was informed that business was absolutely “dead,” and the -indications were that the bottom of the market had not yet been reached. The financial stringency and the uncertainty of the markets were having a decided effect on the land agencies. Several agents had “shut up shop,” while one or two more were contemplating a. similar step. It was mentioned to the reporter that there were also practically no exchanges in town house properties at the present time. The cost of living had dropped considerably, and, of course, the standing houses had fallen in value considerably. A house that would have cost £I,OOO to build some six months ago could be erected for about £BOO to-day. There was, however, very little building going on. Almost t all the houses under construction were those which were incomplete, or for which money had already been advanced at the time the loans to soldiers were stopped.
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Manawatu Herald, Volume XLIII, Issue 2361, 29 November 1921, Page 1
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169PALMERSTON LAND SLUMP. Manawatu Herald, Volume XLIII, Issue 2361, 29 November 1921, Page 1
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