LAND IN CANTERBURY.

Taranaki Daily News, Volume LVI, Issue 194, 14 February 1914, Page 3

LAND IN CANTERBURY.

A 11RISKER MARKET. DAIRY FARMS IX DEMAND. C'hristehnrch, Monday. There are already signs that the land market is recovering. Several land agents who have just been interviewed Bay that during the last month there have been brisker inquiries! for both country and town properties, and after harvest a strong demand may probably set i».

| So far as country properties are concerned, the demand is chiefly for sheep farms, which involves less difficulty regarding labor than agricultural farms. Good properties of this class arc not easy to obtain as the hodlers are not anxious to part with them. The majority of Canterbury seekers for land want to stay in the province. The North Island does not attract them as it did a few years ago, as prices have gone up there to such an extent that cheaper land can he got in the soutl. But during the last two years the seasons here have been so wet there is now no inclination to go south, as there was some years ago, when a large number of Canterbury farmers went to Southland. There is, of course, not now the same number of buyers, so many having secured holdings in other parts. Thero is a good demand for dairy land and, where fairly largo herds can be kept, the milking, machines have solved the labor problem. There has been a good demand for dairy laud near the hills, where it is bringing £25 to £3O per acre, and where, there is a better rainfall. Dairy land near the coast is selling at from £4O to £7O per acre, and the cheaper land near the hills is, consequently being more inquired for by dairy farmers.

A great advance in dairying and pig■ug in Canterbury is- looked for. There, is plenty of money available in the city, where much has been held for investment at (i per cent, or more, and the easing-ofl' of the money market will tend to cause the holders to seek 'n vestments at lower rates of interest. The price of land keeps ap, though some farms have gone down in value. This, however, does not apply to good sheep properties. There are a numlnr of people waiting for the Hillersdeii Estate in Marlborough, the Mount FyiD Estate, at Kaikoura, and a large Nona Canterbury property that is to come on to the market.

Another land, agent, who was iskjd what was the state of the market for city and suburban properties, said tin I lately there had been a steady demand for properties in the suburbs. .■Jei'-.n' sales had been made up to £3OOO and £4OOO, and there was also a demand for smaller properties from £OOO upwards. A firm of land agents who deal in both country and city properties, said that small dairy farms were in good demand, and anyone who cut up a property into dairy farms and gave easy terms had no difficulty in finding buyers. Men of small capital preferred these farms as from their dairy herds they obtained their returns every month instead of having to wait a year for returns from cropping. Sheep properties were also in demand, as people were now looking for land where little labor was employed. House properties were regularly asked for and there were now inquiries setting in for city blocks. They experien;ed no difficulty in financing, as money was now being more freely offered at 5 and 0% per cent. The easing off of the money market would undoubtedly have an effect upon tho land market, and they expected shortly to see a general move in both country and city properties.