NO FALLING OFF

Nelson Evening Mail, Volume 80, 29 November 1945, Page 4

NO FALLING OFF

OFFERINGS OF PROPERTIES FOR SALE (From Our Parliamentary Reporter) Wellington, Nov., 28. Cases going through Land Sales Committees to date showed that even though some delays did occur there was no falling off in the offerings of properties due to the workings of the Servicemen’s Settlement and Land Sales Act, said the Minister of Lands (Mr Skinner) in the House of Representatives when opening the second reading debate on the Bill to provide for several amendments in the Act. The Minister said he felt that the amending Bill would iron out many of the difficulties encountered in the administration of the Act. So far 63,309 applications for transfer of urban properties and 9042 applications for transfer of rural properties had been lodged, said the Minister. Of that number 80,092 urban and 8540 rural applications had gone through the committees to the end of October last. Comparing those figures with the number of property transfers over a period in normal times it would be seen that there was no falling off. As a matter of fact there was a tremendous increase in the number of urban properties changing hands. REDUCTION IN CONSIDERATIONS The Minister gave figures to show the reduction in considerations asked for by vendors in their applications. F(»r farm land, reductions had been made in 1285 cases amounting to £420,647, and for urban properties reductions had been made in 13.323 cases amounting to £1.421.932. For 14.608 cases up to last October the aggregate reduction in actual consideration as-ked by vendors was £1.842,579. Not only had the Land Sales Act acted as an authority for stabilising of values but it had also saved the purchasers of all types of properties a considerable amount of money. In most cases persons selling were later buyers and even though at the time their properties might bp sold at values below what they sought when they later came to purchase other properties they themselves were protected. Speaking to farmers he had found that there was general approval of (he Act although there might be some friction about delays. There was certainly approval of the principle of the Act whieh he thought had been definitely worth while. The alterations suceested in the amending Bill would make a very good measure even better.