AUCKLAND PROPERTY MARKET.

Press, Volume LVI, Issue 17020, 17 December 1920, Page 7

AUCKLAND PROPERTY MARKET.

A BRIGHT OUTLOOK. (SPECUX, TO "THE PRIS3.") AUCKLAND, December 16. "What is the outlook for the property market in Auckland in the future?" nv-as the question put to-day to some of t)he best-informed men in touch with tho situation. They agreed that wliilo tho present quiet period might bo expected to last for a time, values in general would be maintained, and those who had invested in property would -have no cause t-o regret it. "The situation of this city is different from that of Christchurch or Dunedin," said one of those interviewed, a man of wide experience in the business. "We here are dependent on the butter industry to a greater extent than other cities, which depend more on wool and meat. Those commodities are sellin<j; on a falling market, but butter is still on a stable market, and thus the benefit will continue to be felt by Auckland. Another thing, the undeveloped country to the north of Auckland is being settled, and hitherto unproductive areas made to produce. That country is, economically, tributary to this city, and the 'wealth created there must pass

throuca our hand-. This must tend to i maintain the values of property in tho « citv ns w.'M :is outside it. There ninv be'cases of individual hardship through j unwise buying of dairy farm lands, but I'enrrallv speaking success is met- with m the. industry. Prices aro good ana prospects bright. Tho returned soldiers have shown what enn be done on vhe land, and the results of their experiment have been undoubtedly en- 1 eouraging." . ' "'So far as city property is concern- 1 ed," said another man, "we have, per- t haps, passed the crest of tho wave, and tor a time may be in the trough, but J those who hold on for another ten or ; twelve months should do well. The , immigration in sight for New Zehland < looks as if it would reach record pro- < portions. Although the cost of building is 'high, nevertheless accommodalion must be found, and building pro- , reed, even at the present increased , cost. It is impossible to sav just- now < whether building costs will fa'.l in the 1 near future, but it would b<> the ' natural thing, in vieiv of the decline all , round."' j