TARANAKI LAND VALUES
'. In the course of the hearing of a'rgii- ! incur in respect to the distribution of farm lands under the will of a farmer late of Whenuakura, near I'atea, Mr P. Q'Dea, solicitor, of Hawera, said that in Taranaki they wore paying up to '■ £l5O per acre for dairying land, only about £lO per acre -being paid by way ,of deposit. Somtimos there were five I and even six mortgages on a property. and because of these small deposits j and big mortgages the land was inflated I in value. j The Chief justice: What would this land .cany—a cow to two acres? j Mr. O'Doa: The land I have in view 1 would do better than that. It would I carry a cow to an acre and a third. ' People are paying these high prices ; now hoping to sell out next season at ! a profit, This is going on throughout Taranaki, and it is not wry probable that the last buyer, and perhaps others', will snll'er. The payment of the small deposit is mainly responsible Cor the inflated values. The Chief Justice: I have seen three land booms collapse in New Zealand. and I suppose we will see another collapse shortly.
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Bibliographic details
Otaki Mail, Volume 26, 2 July 1919, Page 4
Word Count
204TARANAKI LAND VALUES Otaki Mail, Volume 26, 2 July 1919, Page 4
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