CHRISTCHURCH CONDITIONS

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

CHRISTCHURCH CONDITIONS

BUILDING TRADE BRISK.

[BY TELZGEAPH.—-OWK CORRESrONDBNT.] 0 CHEISTCHURCH. Wednesday. The activity in dealings : l in; property situated in the business portion of Christchurch, which a few months ago was very marked, has now largely • disappeared. Comparatively few deals in property of this nature have taken place lately. Instead, something approaching a.boom has become apparent in connection with the better class of residential properties.;. Although city property is not V changing hands to the same extent as formerly was the case, there is no evidence to suggest that values have in any way declined. fl The most noticeable- movement of late has been concerned with sales of highpriced residences. During the past month between 20 and 30 residences have changed, hands at prices 'ranging -from £3000 to £5000.; ;" The demand for this class of property has been exceptional, overshadowing all other classes of business in the property market. - Ts}. ; ■:■■.'.-;-,:,■-■■/:'■:.<. ... A considerable development is » taking place in the suburbs, and a large number of new dwellings are being erected with consequent increases in the values of adjoining sections. Recent subdivisional sales have shown that a strong demand ' exists for good building sections, and that purchasers are prepared to pay high prices.: : -- ..^-.'■:•■"'-■'■■:.