PROPERTY VALUES.

Auckland Star, Volume LXIV, Issue 283, 30 November 1933, Page 27

PROPERTY VALUES.

RESIDENTIAL SECTIONS. . PRICES IN RECENT YEARS. An indication of current values of residential sections in Auckland will he provided by a public auction which is to be held next month. Thirty-eight sites are to be offered in several parts of Paniell in the vicinity of St. Stephen's Avenue, where, before the slump, sites for homes were keenly sought and commanded high prices. About six years ago, when the boom was at its peak, quarter-acre sections in all the suburbs commanded what today seem extraordinary prices—and £1000 \vas quite an average figure. The demand soon afterwards slumped, and in the last few years there have been few subdivisions. Positions along Remucra Road and in the streets leading from it to the waterfront have for many years been keenly sought. During the boom this realised from £20 per foot upwards. Parts of Heme Bay, too, have in the past been at a premium, and £30 a foot was paid for one lite near the foreshore.

Further proof of the popularity of sites commanding views of the harbour was provided in the original sale in 1928 of the Orakei Estate, when one quarter-acre area realised £1400 and others sold at four figures. The record price in St. Stephen's Avenue was obtained at an auction in 1926, when £22' 10/ a foot was paid for a section. It is still vacant to-day, and is certainly an expensive holding. Subsequent auctions in this locality have reflected prevailing conditions, and the peak of "four figures" on a quarteracre has not again been touched.