PROPERTY SALES

Hawke's Bay Tribune, Volume XXIV, Issue 80, 16 March 1934, Page 4

PROPERTY SALES

SEVERAL DEALS MADE Good Inquiry in H.B. BRIGHTER OUTLOOK Several substantial property deals have been transacted in Hawke’s Bay recently, and land salesmen report that inquiries for sheep-raising lands in approved localities especially are quite numerous at present. This morning the “Tribune” was informed by the representative of one big firm in Hastings that plenty oi cash was available, but his difficulty was to obtain land in desired parts of the province at right prices. “I have had several inquiries for land in certain localities, but these people will not look at attractive lots elsewhere,” he said. “As much of the good land of Hawke’s Bay is not for sale it is a hard matter to find land that is required, even if a deal is to be a cash one. “Although several sales have been made of late in which large sums of money in cash have been involved, they have not been at boom prices or anything approaching them,” he added. The recent improved tone in prices for wool and meat has already been felt,” said another land salesman, who considered that the depression was now' over, a view which, he said, was proved by the several extensive deals recently transacted, ranging from £20,000 to £60,000 for cash sales. The hardening of values following the February wool sales gave him reason to believe that markets had become stabilised placing speculations on a more sound level. The further rise in values for lamb towards the end of the season gave an encouraging outlook for prices next season and this, he considered, would stimulate the demand for land. “Butterfat prices are a set-back to the values for. our Hastings flats,” he stated. “There has, however, been an upward tendency in this market, but there will have to be some adjustments made in land values to enable dairying to be carried on successfully. As far as the town is concerned it . must benefit from the greatly increased amount of money coming in from overseas. It is suggested by some that most of it is already tied up, but I think that is a wrong impression. “Regarding residential properties in and around Hastings, one has only to see the number of new buildings that are being erected to show that things are moving. A number of satisfactory sales have been completed of late, while there, is a fair inquiry for building sections.”