LAND SPECULATION.

Taranaki Daily News, 8 January 1920, Page 3

LAND SPECULATION.

SOARING PRICKS. '•A SMALL FGRTUNK IN FIVE yEAKS." 4 A Wellington business roan, who ,has just, returned from a lengthy visit to the Wangamii, Ifawkc's Bay, and Auckland districts, expressed to a New Zealand Times representative his astonihment at the enormous increase in the price of land, especially in some districts in the Auckland province. "I hope it will be all right for the purchasers," he said; "but I am afraid that it will take very hard work (which is good for all) and very high prices (which will mean increased cost of living) to enable the present, owners or tenants f.o make a living. In some instances land has jumped from £lO to £s.') per acre in five years.

"I know one man in the South Auckland district who purchased '2OO acres of land in 11)14 at ,£lO per acre. Certainly he worked hard on the land. lie was a very capable farmer, and knew what cows to buy, wiiat cows to cull, he understood milk-testing, the use of milking plants, and how to grow and alternate crops. lie has now sold his farm at £SO per acre, with an additional £IOOO for tiie eight-roomed house he had erected thereon. He has maue a good living since lfll"), and now retires with a profit of £BOOO on the. land alone, another profit on the house, and a substantial profit on the stock. Somebody must, be paying high prices for things when one man can I make what to him is a small fortune in five short years."