HIGH HOUSE RENTS.

Dominion, Volume 2, Issue 329, 16 October 1908, Page 4

HIGH HOUSE RENTS.

' ' ■ : : —— THE POSITION IN AUCKLAND. tBI-TEI.EaiUrH.—SIT.CI.U, CORRESPONDENT.) Auckland, October 15. Just now it is not only very difficult to rent houses in tlio Auckland suburban area, but th.oro ha 3 been a substantial all-round increase iji rents, due to Several causes.Tliosupply of houso-accommodation, is.absolutely unequal to the 'demand. House agents declare ..that" they could dispossess any goodtenant with the absoluto certainty of getting' at an increased rent.. Many people who would like their own homes have perforce to live in boarding-houses bccauso they -cannot rent houses. Tlio keenest demand is naturally for the house of comparatively small but., other classes aro almost as difficult! to get. The principal reasons for the advalico in.Auckland house .rents appear to be tlio very few houses now being built for renting',. and tlio number "of "people who aro purchasing homes on'the-small deposit system, and thus lessening the-'supply uf houses that, were formerly rented. There aro many purchasers who aro willing to put i down £50, or even £100, deposit for a home, paying off the balanco of the: purchase money as*rent. -Tlipro is a : fair supply of such'pro- ■ parties available,, but they are being disposed ■ '(if very quickly. ' Notwithstanding the deliiaiul for tllc-s6 properties, "there' has been '. practically 110 increaso '■ in capital values, i though this may, aiid probably will, como bei t'oro long. At t-lio present time, however, 1 prices for house's purchased 011 the deposit - system aro moderate, 'and there has neon ) no increaso to speak of. Many householders : 'who could not get places 011 a rental are ' .Requiring their homes in this way. Tliero is -slonie talk of a building society being formed ; at Wellington to meet tlio Auckland demand for small houses at a moderate rcutal.