THE FALL IN VALUES.

Hawke's Bay Tribune, Volume XI, Issue 98, 16 April 1921, Page 2

THE FALL IN VALUES.

PRODUCE AND THE PROPERTY MARKET. The effect- of the financial stringency and the fall in values of produce upon the property market was discussed by several prominent land agents (says the Auckland “Star”). The general experience appears to be that the land market is dull, but not dead. While the tightness of money was certainly reducing the demand for land, said one authority, good land was still attracting buyers, and some transactions were going through. He thought that too much pessimism was being talked, the reason doubtless being that comparisons were being limited to recent abnormal years. iTie present business in land was not much below that of prewar times. Speaking of dairy land, he said there had not been a great depreciation in values, for they had never had a full world’s market prices for dairy produce. Asked if the tendency would be for a lower standard in land values and for the legitimate farmer io do better, this authority said this appeared to be certain. There had been far too much speculative buying in the past, and personally he. welcomed the present depression, because it would have the effect of stabilising the market.

Another agent stated that practi.jnl’y no business was being done in farm land. Many properties were being placed in agents’ hands, but prices had not been reduced. This was usually a dull season for sales, but this year 't was doubly dull. The general position at the moment was that both prospective buyers and prospective sellers were “hanging on” to see how values would’ turn. As to house property the market though not so brisk as it was a few months ago. was fairly good.