MANY APPLICATIONS

Dominion, Volume 37, Issue 115, 10 February 1944, Page 3

MANY APPLICATIONS

Property Transfers In Wellington Applications for transfers of ,P. r0 ‘ party, both urban and rural, tota png 1011, have been received by the Avellington committees working under the Lana Sales Act. In 592 eases the applications have been granted straigbt out, nine were sanctioned at reduced -prices . mutually agreed on by the parties, ana 7o were granted conditionally on there being reductions in price. The reductions fixed ranged from £3OOO in’ one instance (a city property) to £75. Included in the transactions approved straight, out were nine farms, and three farms were among those applications granted conditionally. Two applications were turned down. Of the balance yet to be heard by the committees, some are awaiting special valuation in view of tbe high financial consideration involved, and others because of there being insufficient information about them. Though some land ’ agents are complaining that the operation of the Act and all its formalities have put a brake on business, Lands Department officials charged with administering tbe Act claim that it has not. slowed up tbe property business. So far as they are concerned, one said yesterday, the work is increasing out of all bounds.