INQUIRY FOR PROPERTY.

New Zealand Herald, Volume LXIV, Issue 19809, 2 December 1927, Page 12

INQUIRY FOR PROPERTY.

" THE TURN OF THE TIDE."

BETTER PRICES FOR PRODUCE.

MARKET BACK TO NORMAL.

" There is good reason for expecting the turn of the tide now," said the representative of a leading firm of land and estate agents yesterday. A similar opinion was expressed by members ot several other firms ip a largo way ot business. One of the chief reasons for looking' forward with confidence to the future is the good prices that have been obtained this season for the primary produce of the country—wool, butter and cheese —but it must be understood that the stimulating effects of the release of this money will scarcely make themselves felt in the property market for some months, at any rate so far as the city is concerned.

Whether it is an immediate result oi the price of produce or not, there is already a healthy and steady demand for farm properties. Many peoplo who have long been delaying purchasing on account of inflated prices feel that now the time has come to step in. Larger blocks are being inquired for, and many are purchasing farms that have " gone back,' with a view to cleaning them and getting them in good condition again. They do not pay high prices for these lands, but they are spending the extra money in top-dressing, which will toll its tale in gratifying yields in coming seasons. Small dairy farms are reported to have been selling well for some time past, and one firm has two or throe inquiries daily for such farms. The experience of this firm has been that where any such property is offered at a reasonable price and on reasonable terms there has been no difficulty in finding a buyer. The increased activity in country properties leads to the expectation that a similar movement will shortly appear in tho city. Several agents describe the situation as "back to normal" after the boom; and they much prefer softnd, normal business to the inflation and reckless speculation of boom times, A feature of city business at the present time mentioned by more than one firm is the large amount of cash being paid. "Ot course," said one salesman, "they expect value for it."

"While things are quiet," said another, "there is a demand by people moving into Auckland and wanting homes. The demand for sections is good. A few sales are taking place on a very satisfactory basis, particularly of the modern type of house." The type of house that is not modern is something of a drug on tho market at the present time and has gone back in 'value. The common view of those in touch with the situation is that the Dominion has now passed through the bad times of the boom and subsequent slump. The market is back to normal and there are sound reasons for believing that a steady upward tendency is beginning to manifest itself.