FEWER FARMS BEING SOLD

Dominion, Volume 31, Issue 151, 23 March 1938, Page 12

FEWER FARMS BEING SOLD

Position In Auckland District Dominion Special Service. Auckland, Alarch 22. Because owners generally are no longer disposed to accept second mortgages on account of purchase money, fewer farms are now changing hands, according to agents, than otherwise would be the case. There are other factors exercising an influence on the situation, such ,as a' feeling by many, owners that if they do sell they are likely to face difficulties in obtaining other farms, blit finance appears to be the dominant consideration that affects the market.

Some farms have recently changed hands in the Waikato, it is stated, and much more activity is expected in April. Alay and June, which are normally busy months for farming dials.

"I have several clients with sums up to £l5OO, and in one case with £lBOO, who have been looking for farms for some time, but who have been unsuccessful so far because owners .have demanded the whole of the equity i;i z cash.” said one agent. "Lack of confidence in second mortgages is the cause.” Another agent said it was difficult to reconcile the differences in ideas of values held by buyers and sellers respectively. Buyers had very much in mind the high price of stock, «nd with some of them the'drop in the price of wool restrained eagerness to acquire sheep properties.

"White the one-mateand-family type of dairy farm is not aff.cted directly by the Labour situation, there is n« question that it does affect the demand for the larger type of farm,” it was stated.