HOUSE PROPERTY.

Auckland Star, Volume LXI, Issue 65, 18 March 1930, Page 6

HOUSE PROPERTY.

AN OWNER'S Experience | . 1 (To the Editor,) A great'outcry i s jusUow I to the number of unlet houses a \ of several houses, in the BubnriL . •»: £ I would like to state my exper ° I many an optimist of IOIS-igog 6 Hi bungalows in a good, rising L? course, war peak prices, on ah -N cent net return. Now. I find J' of 1)> the same houses at about 30 A? owing to reduced prices of severe competition amongst hi,;u 8 a »ii submit to fate. All farming revalued at at least a drop o ft' 11 \ Therefore I have reduced my houses in the same ratio, {\ , »i> others, to reduce my rents from SH i accept the inevitable. At the properties pay me 8 per cent ing for depreciation, is a net reti 'A cent. We cannot expect more to England, where, in many of'the f v southern watering places, I found l]? 4 eight-roomed bungalows let at 'p annum, I am satisfied that here will not maintain their hieh l the number of empty houses will to ■ that the practice of two families one house, a most undesirable condS also increase. A day's pay for 'tk 7,N £300 per annum superior clerk or tip is considered, I find at Home a rent for a house. It is no use'squea&Jl farmer, with his wool and meat ky i ? endure losses philosophically or otherw ■ so must we city landlords. Probably be disputed;, I cannot help it. * philosophic