BUILDING SECTIONS

Greymouth Evening Star, 17 June 1936, Page 5

BUILDING SECTIONS

KEEN DEMAND AT GREYMOUTH

Property values in Greymouth are probably higher at the present time than ever before in the history of the town, and the demand for good building sections shows no signs of decreasing, despite the fact that several large subdivisions recently opened up have placed a large number of sections on the market. These have almost all been taken up, at prices ranging from £lOO to £l7O. In tact, it is almost impossible to purchase a section in any part of the town under the former figure. Thirteen sections have recently been sold in Tindale’s subdivision, on the Devon Street extension, at prices in the vicinity of £l5O each, and a further subdivision is to be made in this locality. Although subdivided only twelve months ago. and roaded only six months ago, Ihirty-mree sections have already been sold in the Kilgour Estate in Marsden Road, and the prices of the remainder range from £l2O. Several sections in Colls’ subdivision, above Chapel Street, have also been sold recently. The whole of a recent subdivision in Cobden has been sold, and in sev•ral cases houses have already been built on this area. Two sections in Bright Street, Cobden, recently changed "hands at ,t 125. At South Beach, where there has been a remarkable extension, property values have appreciated. and sections which would have been sold by the acre only a few years ago have been sub-divided, and sold at prices ranging from £lOO to £l5O for minimum-sized building sections.

In the older portions of the towm, such as High, Shakespeare and Cowper Streets, values are even higher, and as much as £350 has been paid recently for large sections, while others have brought between £2OO and £250.

Sections have already been taken up on the extension of Lydia Street, and hero, again, n.gh prices are being paid for desirable sites. At the present time there seems no indication of the market slackening, and /alums are continuing to appreciate. One section has recently changed hands three times, and in the process the price has increased from £lOO to £175.

There has been an acute shortage of houses in Greymouth for some ime, and this fact, coupled with the inauguration of the Mortgage Corporation advances, and subsequently, the anticipation of the Labour Government’s housing scheme, has been responsible for the keen demand loi building sites.