PRICES OF LAND.

Taihape Daily Times, 1 July 1919, Page 4

PRICES OF LAND.

WILL THEY BE MAINTAINED? ’ V - REPLY TOCRITICISM. Sir Robert Stout ’s recent’ statement that he had seen three land booms burst and his inference that the pre-‘ sent one would-"share a like fate, IS being taken to heart in Manvr~va‘t'u (writes a correspondent of "the" “Dominion’-"). And it has provoked‘ qu"‘.'-3 a controversy as. to. "Whether the phenomenal price which is ‘now obtaining for firstclass farm land can be niaintained It is pointed out, however, by those". competent" to judge, that it must be remenibc-red that on the occasions referred to the prices were inflated by SpeCl.llu.to:‘S, and the business done was not of a genuine nature. .On the present oc~ casion, however, it is pointed --ut by many good judges who are in a position to speak with authority, on the subject, that the bulk. of the 3-ind which has changed hands in__ this district lately has been-purchased‘ by men of substance, many of whom have had life-long experience on the-lland, ‘and who not only pay off» the-nié-paasai. but are in a position to pay up the principal also. In some eases,the\' purchase land-in ‘close proximityio that worked by thcmior years, and this should be a very.- good cri-+.eri<-I'. that they know What‘lal.l_(l_V is worth better ‘than critics bwphe speak with merely superficial knowledge. It has been asserte”d‘"insome quarters that land purchased my the Government in the Kairanga district for returned soldiers at £BB per acre is dear at the price and yet within the past few days land in the same district, and not so favourably situated, has changedhands at £IOO per acre having been bought by one of the most practical and hard-headed farmers in New Zealand. The gradual cutting up of properties was bound to have the effect of putting up values. and it is well known that closer settlement always means enhanced values and more intenive farming. Amongst properties which have been s*"bdivided in the Manawatu district durillg the last few years are ?0 estates, aggregating 19,000. odd acres The prices obtained for the most recent bloeks to be cut up range from £BO to £llß.for first class land, am‘. in exceptional Cases, with imIJ-’O'-‘~’-ments, up to £157 per acre.