PRICES FOR LAND.

Taranaki Daily News, 12 July 1919, Page 12

PRICES FOR LAND.

WILL THEY BE MAINTAINED. Sir Robert Stout's recent statement that he had seen three land booms burst and his inference that the present one would share a like fate, is being taken to heart in Manawatu (says a correspondent of the Dominion). And it has provoked quite a controversy as to whether ,the pheriomenal price which is now obtaining for first-class farm land can be maintained. It is pointed out, however, by those competent to judge, that it must be remembered that on the occasions referred to the prices were inflated by speculators, and the business done was not of a genuine nature. On the present occasion, however, it is pointed out by many good judges who are in a position to speak with authority on the subject, that the bulk of the land which has changed hands in this district lately has been purchased by men of substance, many of whom have had lifelong experience on the land, and who ndt only pay off the deposit, but are in a position to pay up the principal also. In some cases they purchase land in close proximity to that worked by them for years, and this should be a very good criterion that they know what land is worth better than critics who speak with merely superficial knowledge. It has been asserted in some quarters that land purchased by the Government in the Kairanga district for returned soldiers at £BB per acre is dear a.t the price, and yet within the past few days land in the same district, and not so favorably situated, has changed hands at £IOO per acre, having been bought by one of the most practical and hardheaded 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 setlement always means enhanced values and more intensive farming. Amongst properties which have been subdivided in the Manawatu district during the last few years are 30 estates, aggregating 19,000 odd acres. The prices obtained for the most recent blocks to be cut up range from £SO to £llß for first-class land, and in exceptional eases, with improvements, up to £157 per acre.