The Land Market.

Manawatu Standard, Volume 4, Issue 107, 13 April 1883, Page 3

The Land Market.

n - ! FUUjWIJATI(^S IN PRICES. bonflictiog evidence as to the values? ? of city j freeholds x and leaseholds was giy^n m a 0 jciyil .case ' at ..tlie (Supreme Court Experts m valuation "seem to . ,jcUjfffcr-.aß wideij_ as i doctors. are said to do. Extreme flnctpations m value were testified to by more than one expert. „ It was said, for instance,, that a vacant : icre m Ghuznee-itTfeet, a; sort of, crpeß'itreet in i l l *'AVo, cotfld be sold on a building lease at present for £100 a year rental ; but it the freehold ; were 'ibiii m building -sections tbe "acre would realise £2360,r Another expert wit- '"'"' neBS said this acre Vironld have leased at ''JOs a foot for buiWing m 1878, but it- ". would nbt have sold for 6d a toot as a -'leasehold in^'th^ following year, so greatly had properties fallen m value/ The market has been stagnant since the ''high"' values 10^1878'; butrYs'said to be im'pfbfing at present, though-still not brißk. ' . -: Vi Sidejr, auctioneer andlahd agent, Baid the present fwehold value of the Section is about £1200. If offered on a building lease as a whole it would fetch • J about £60 a year for 21 years, with a right of renewal at 50 per cent, increase. "" Leasehold building sections will not sell *atf preient. From 1865 to 1870 this acre would "bVVorth about £300 to ; £SOO. -In 1877 .^is anre would be worth? about I had an acre m Cuba -street frhich I offeted for lease m ! : IJB7OV ; and : the highest " offer I got was 1 -e8 v a year ;' buiTin 1877 ;it f pr £400 a year for years'.' " ; .