SPECULATIVE BUILDING.

New Zealand Herald, Volume LXI, Issue 18771, 26 July 1924, Page 8

SPECULATIVE BUILDING.

OPERATIONS IN AUCKLAND. EXPLOITATION ,OF BUYERS. ■.; [ST• - i TELEGiEAPH.--%jeECIAL'' ;REH>RTER. ].;- ,-: '■:■ Fridw. r Tlie housing problem as.: it■: relates fti ■■'"■■• Auckland received a good deal of prominence in thp House >f Representatives to-'' ■ - day in the; Rent Restriction '_•.'■■•' Bilk' .A;;plea if or'ffie-subdivision of Go;?r-., ; ernment'■•'., reserves at Ellerslie, Penrose ; ; ijind Orakei as model suburbs for the workers of L Auckland was maiie by Mr. W. J. Jordan : (MauUkau),, who also complained of unreasonable i prices for timber | and bricks. ,He said itswould be better for the Government feo ensure to the public supplies of cheap;building materials than ■ to; lend large Bums of money- for the build- f ing of houses at unduly high prices. :' Some practical, first-hand information was given by ; ; Mr. j; Rj Gorrigan (Patija), who said he was chairman of directors of a milling- company which had . built 25' houses in the suburbs of Auckland. Orriy \..f M one house out of the niiniber was built for ;:- the family which intended to occupy ■■:■.■' , it. The rest were built' for . specu- >' ,- lators,, who wou!d" not let them, IjK but held theih, for sale. The houses, '■'% said Mr.- Corrigan,: were modern five- ■ roomed ,-dwellings of a desirable sort, and ; the cost; of erecting them was £670 each/ "h% The sections cost frotp, £200 to £250 each. : V 'The speculators, inv;j3uist instances, sold them at £1100 to £1250. It was obvious that .people who bought at those prices '■?)* were being exploited, but how could it be ■-■■■£ stopped ?