LAND SALES ACT

Evening Post, Volume CXL, Issue 57, 5 September 1945, Page 5

LAND SALES ACT

NO DISCOURAGEMENT

INCREASE IN TRANSACTIONS

Contrary to general expectations the Servicemen's Settlement and Land Sales Act has not discouraged people from entering into contracts for purchase and sale of land, says the Undersecretary of Lands in a report presented to the House of Representatives yesterday covering the first full year of the operation of the legislation. The reviews of land and property transactions by the Land Sales Committees throughout the Dominion for the year ended March 31 last resulted in reductions in price in 6776 cases, the amount of the reductions being £856,----555. Of that total £204,300 applied to farm, lands,- and £652,255 to other lands. During the year 32,077 applications were received relating to town properties and 4981 to country properties, in the three years immediately preceding the enactment of the legislation there was an average of 28,201 transfers of land registered annually, classified as 22,947 urban and 5254 rural transactions. SHORTAGE OF VALUERS. Except in Auckland, where onethird of the total applications had to be handled, the committees kept abreast of applications in a satisfactory fashion. A rearrangement of territory and the establishment of a committee for South Auckland had relieved the Auckland position. The shortage of trained valuers, both Crown and private, was still the greatest single cause of delay. "Rather unexpectedly," says the report, "vendors and agents, instead of accommodating themselves to establish standards, have shown an inclination to seek higher figures, thus impelling committees to requisition valuations. The shortage of valuers is being gradually relieved, and the work of the committees is being lightened as the valuers gain in experience and general efficiency." When farm lands are being sold, the Crown has the right to intervene if the land is suitable for the settlement of one or more discharged servicemen. This right was exercised in 89 cases, involving 26,302 acres, and enabling 130 servicemen to obtain holdings. AlI though the compulsory requisition provisions of the Act have been operated sparingly by the Crown, its existence has had an important effect. Landowners have been the more ready to sell their properties voluntarily, and the Crown has thus been able to acquire by private treaty a satisfactory number of properties.