LAND AND BUILDINGS.

New Zealand Herald, Volume LXI, Issue 18709, 15 May 1924, Page 11

LAND AND BUILDINGS.

~. . . : m,.,, . ; FUTURE OF AUCELAND. , —*. .-—-—. HEALTHY LAND MARKET.

CONFIDENCE OF ' INVESTORS. The faith of - veal estate investors in \ the future of -VAuckland~ city : has been imply demonstrated during the ' past ; few weeks in the prides paid for buildiig sites on the inner r fringe of :the;ijresi-; dential area. : A typical case 3 was that; of the Fenor Dene subdivision, opposite the general-: hospital :;properly in Park Boiid, where a3 much as £35 par foot was paid for a corner section.:':.'. The substantial figure of j £27 10» ;per foot was readily paid for sections on the Park Road frontage and £24; per foot -on the Park Ayanue side of the estate. , A further indication of the rise in value? was .given at the sale of the Church England property at the corner of Manuka? Road and Ayr Street, at the Newmarket end of Parnell. Here; sections were eagerly competed for and ultimately disposed of at from £18 to £26 per foot. Even in the more remote ; suburbs speci ally favoured locations ; claim the attention of investors when sales are -announced, and relatively high prices are constantly being obtained. This .is par* ticularly true of Kemuera» Epsom, and the elevated portions of Heme Bay overlooking the upper reaches of the harbour, all tending to show that the irresistible spread of the city is making for healthy conditions in the real estate market. the progressive policy being pursued by the City Council in the development and •extension of the tramway system is also helping in this direction, and the promise of adequate and regular services is inspiring confidence in home seekers, who are buying sites for dwellings la .the picturesque localities destined eventually to become part of the greater Auckland area. • .-. -' •• ■ -'- •'■' ■ v