PROPERTY AND FINANCIAL REPORT.

Southern Cross, Volume 1, Issue 16, 15 July 1893, Page 5

PROPERTY AND FINANCIAL REPORT.

Mr C. W. Brown reports :—Since date of last report, I have sold the following properties:—Section 22, block 56, corner of Jed and Spey sfreets, with dwelling house, at £200; sections 2, block XV., Campbelltown, and 10, block XVI., Campbelltown at £2l each; section 15, block 31, Teviot street, Invercargill, £7O; leasehold section, block X., Bon street, with dwelling house; sections .1, 2, and 21, block XV., with dwelling house, Clinton, North Invercargill; and sections 5, 6,7, 8,9, 14, 15, and 16, block 1, Clinton, North Invercargill, at satisfactory prices.

Town and Suburban Sections. —A few sections are changing hands, but the demand cannot be said to be very active, as town lands are now as a rule only bought for building purposes, and for immediate occupation. There is not the slightest disposition to invest in this class of property for speculative purposes. Dwelling houses are difficult to obtain, and although a large number have been built during the last few months, the supply is not yet equal to the demand, and at present there are no empty houses to be seen in Invercargill. Country lands.—These continue to be inquired for, and as the ploughing season advances, the demand is likely to be more active. Large areas of land are being taken up at the Land Office, and this to a very great extent operates against private holders who are anxious to realise, as the terms offered by the Government are much more liberal than can be given by many landholders, There is a good enquiry for party improved holdings within easy access to dairy factories. Financial. —Money for investment on mortgage of first-class securities is plentiful, and can be obtained in large sums at from 6 to 7 per cent. —smaller amounts at 8 per cent. It is not anticipated that the temporary suspension of the New Zealand Loan and Mercantile Company will cause much inconvenience. July 13th.