SALE OF HOUSE PROPERTY
MR CONNOLLY’S CLAIM
“PROFIT OF £4OO IN ONE MINUTE” (New Zealand Press Association)
WELLINGTON, Sept. 6. The removal of control from urban property sales had led to amazing price increases, said Mr P. G. Connolly (Opposition, Dunedin Central), speaking in the Budget debate in the House of Representatives this evening. One Dunedin property, he saia. was put on the market on December 22, 1949. and the land sales value was fixed at £1545. This was unacceptable to the vendor, who withdrew the property from sale, but at 2.41 p.m. on March 28. 1950. the same property was bought by an auctioneer, who haa been prominent in the National Party, for £2lOO. At 2.42 p.m. on the same day. another transaction was recorded—the sale of the property for £2500. Thus £4OO had been made in one minute. W±iy had not the Prime Minister (Mr Holland) honoured his election promise that properties up to £3OOO would remain subject to land sales control? he asked.
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https://paperspast.natlib.govt.nz/newspapers/CHP19500907.2.118
Bibliographic details
Press, Volume LXXXVI, Issue 26211, 7 September 1950, Page 8
Word Count
166SALE OF HOUSE PROPERTY Press, Volume LXXXVI, Issue 26211, 7 September 1950, Page 8
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