VALUE OF MORTGAGES

Waikato Times, Volume 122, Issue 20507, 25 May 1938, Page 12

VALUE OF MORTGAGES

FIGURES FOR 1937-38 ALMOST EXACT BALANCE The aggregate value of mortgages registered during the financial year 1937-38 was £19.402,067, as compared with £19,756,100 in 1936-37, a decrease of £354,033. The value of mortgage registrations in 1937-38 was more than double ' that in the year 1933-34, when very low figures were recorded; but, despite this recovery, J the level of mortgage registrations is i very considerably below the average during the five years ended 1929-30 (over £38,000,000). The value of mortgages registered in 1937-38 exceeded that of discharges by £6679, so that on these figures an almost exact balance is recorded. Allowance has to be made for duplicate registrations or disof mortgages (mortgages or I discharges are sometimes registered in several districts), but no big amounts were involved under this i heading in 1937-38. On the other j hand, an unknown proportion of discharges are not registered until for ' some specific reason—e.g., transfer of ; the property, or death—it is necessary to clear the title. For four • years prior to 1937-38 discharges had i

materially exceeded registrations, the excess of discharges, which was as high as £1,887,219 in 1934-35, falling off in the last three years. Land transfers in March numbered 2393, the consideration amounting to £2,097,630, as compared with 1907 transfers (consideration, £1.316,929) in February. During the year ended March 31, 1938, 26,269 transfers were registered, the total consideration amounting to £23,328,714, as compared with 25,178 transfers (value, £18,853,823) in 1936-37.