HOUSES FOR LETTING

Evening Star, Issue 22070, 2 July 1935, Page 2

HOUSES FOR LETTING

INCREASING SHORTAGE IMPROVEMENT IN RENTALS During the last few months the number of suitable houses available for letting have become fewer, and laud agents are having no difficulty in finding tenants, according to an agent interviewed by ‘ Cornice yesterday. The dearth of homes for letting had had its effect on the rentals, and to-day landlords were receiving better returns than they had for a number of years. Thp shortage of houses, he said, was more pronounced than it was some six months ago. There was a very keen demand from first-class tenants for housese of practically every description, and as long as the properties wore in good condition and within reasonable distance of the centre of the city there was no difficulty in securing satisfactory tenants. “The rentals that are being obtained are an increase on those which have been ruling for a number of years,” he said. “To my mind the general indication is for better times, with much better prospects for the property market in particular. The rents that are being obtained show a good return on the capital invested, providing, of course, that the properties were nm> acquired during the boom times. This fact is a very satisfactory one indeed from the point of view of the investor who has relied on real estate as a source of income.”

Discussing the popularity of flats, he said that quite a number of blocks of flats had been or were bging erected, and the demand for modern flats in good localities did not show any sign of abating. Flats provided modern and comfortable homes at a reasonable rental for a large number of persons who did not want or were not able to give the responsibilities of a house their full attention. They also served as an admirable form or investment. The flats being built to-day offered excellent accommodation, for the by-laws of the City Council were so strict that all had to be up-to-date.