HOUSING PROBLEM

Greymouth Evening Star, 3 April 1943, Page 2

HOUSING PROBLEM

SITUATION AT GREYMOUTH

> “The market is active, with buyers numerous for the right types of houses, but the demand is for modern houses with modern amenities and there are not many of those in the market,” said a land and estate agent to a “Star” representative this morning, when discussing the housing problem in Greymouth. He added that there were a few old houses on tne sale list but that, in the main, they did not attract prospective buyers. Ample money, he said, was available at reasonable rates of interest, to persons desirous of buying a home, one of the reasons for this being that the ordinary industrial attractions for i capital were not open. Consequently (people could arrange finance if suit- : able houses were available. He coni sidered that prices were not inflated, | sales of modern houses built three or I four years ago, when prices rose i steeply, producing approximately the 'money they cost to build. i Discussing houses for rent, he said [that there was a steady demand but ii; was an unsatisfied demand to a 'large extent, as there were no empty 1 houses to let in Greymouth, the few ■ which became available from time to I time being taken up quickly. There were not many inquiries for building ' sections because building materials ' and labour were not available. I Another dealer in house property stated that he had continuous mouiries for houses and flats to rent, out there were not many available with the result that people had to wait for a considerable time. The demand was certainly greater than the ■ supply. Inquiries for houses for sale were spasmodic in the Greymouth 'district. “People are looking for modern bungalows,” he said, “but there , are not many offering and when they ■are they are ‘pricey. 1 Greymouth ■ could do with a hundred or two nice homes. They are urgently required and they would be taken up almost immediately. We have people living here in circumstances which could be considerably improved,” he added. , “Buying a house presents a consid- , erable hurdle to the young man to- ; day,” he said, “and many find it difficult to meet all the increased costs. There is a demand for houses of modern construction but the prospective costs are tremendous with the high rates, insurance, depreciation, and war charges in addition to payment of interest and repayment, of loan moneys. An average house with a section would cost perhaps £1250 and on that the rates might be £2O. With all the other charges he would have to pay at least £2 a week to meet all the current charges and make some reasonable reduction of his mortgage. With living expenses so high you can see that a man on average wages would have trouble meeting his ‘commitments,” he concluded.