HOUSE SALES BRISK

Dominion, Volume 32, Issue 39, 9 November 1938, Page 7

HOUSE SALES BRISK

Activity In Masterton

Dominion Special Service.

.MASTERTON, November 8.

Considerable activity in house sales in Mastertou in the past 10 days was mentioned by ;r land agent in an interview to-day. For some months there had been practically no sales, as owners.of houses, knowing the cost of State houses, considered that they should obtain a figure somewhere near the building cost, while tenants preferred to wai l and obtain State houses, lie said. The fact that only three tenders were accepted in the last group of Slate houses for .Mastertou had convinced tenants that sufficient houses would not be forthcoming from that source, and the high cost of building houses bad made it difficult for private people to build. The terms of fhe Social Security Act, on the other band, were such tliat it was almost essential for prospective pensioners to own their own homes in order to got the full benefit, of the Act, so that there bad been a definite move toward building society mortgages which enabled buyers to purchase their homey ou time payment. The sales which hud taken place recently were all well below the rebuilding cost, and it was evident. Unit vendors were endeavouring to meet the market.