20 sections withdrawn
Twenty Crown building sections in Avonhead. Bishoncale, Hoon Hay and Northcote had been withdrawn from the Lands and Survey Department’s ballot list and would be used for State housing, said the Acting Minister of Lands (Mr Faulkner).
In answer to a correspondent. “Real Estate,” _ Mr Faulkner said the basis of the selling price of Crown sections was a market valuation worked out by the Valuation Department. The correspondent said that prices of sections in the ballot list in Hoon Hay and Northcoje were from SB5OO to $9500. A young couple who bought one of those sections v ould not be able to build for some time, even with a substantial mortgage.
Mr Faulkner said: "Selectors of Crown sections have a choice of taking up their sections for either freehold bv cash payment or deferred payment licence, or renewable lease which contains the right to freehold the section at any time.”
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Bibliographic details
Press, Volume CXIV, Issue 33521, 30 April 1974, Page 15
Word Count
15320 sections withdrawn Press, Volume CXIV, Issue 33521, 30 April 1974, Page 15
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