ACTIVE DEMAND.

Auckland Star, Volume LXXI, Issue 93, 19 April 1940, Page 9

ACTIVE DEMAND.

HOUSES AND FARMS.

AUCKLAND CONDITIONS. SMALL DEPOSITS OFFERED. A slight easing i n the demand for flats and houses for renting has been observed in Auckland recently, reflecting the effect of the enlistment of married men for military service, but there continues to be a large unsatisfied demand for houses and flats et moderate rentals. The demand for farms is reported to have increased. The experience of agents in the city and suburbs is that unfurnished houses are still almost unprocurable, and a leading agent interviewed this morning Stated that there would be no real relief until recruiting had gone much further than at present. The only unfurnished houses available were at high rental?, of £3 and upwards, while furnished houses are from £3 3/ upwards, which put them in a class where there was little competition.

Because of the position, he added, there was a big demand for houses to purchase up to a price of £1200, but in the majority of cases only small deposits could be offered. A few sales were being made of larger house properties ranging from £1750 to £3000, in which a substantial amount of cash usually changed hands, indicating the desire of the'purchasers to invest in real estat*.

'"The farms most in demand are those with a capacity of up to forty cows," said another agent, "and the inquiries extend to as far as 100 miles from Auckland. The difficulty is that the prices asked are still too"high based on present costs of production and the return from butterfat and other produce. A number of farms, at slightly reduced prices, which have come on the market in recent weeks as a result of the enlistment of eons for active service, have attracted attention from buyers! Usually the seller's equity is fairly small and the mortgage liabilitv is high. Unencumbered farms are rarefy offered on the market." ■

It was pointed out that the autumn and winter was the beet time of the vear for the transfer of farms, as ne.w buyers during these months had time to get established before the new dairying season began. Inquiries for larger farms suitable for share-milking had been made by business men whose turnover had contracted as a result of the import restrictions and for other causes.