LAND TRANSACTIONS

New Zealand Herald, Volume LXX, Issue 21533, 3 July 1933, Page 10

LAND TRANSACTIONS

RENEWAL OF INTEREST MORE BUILDING PERMITS EVIDENCE OF STATISTICS A striking Forward movement in laml transactions is a feature of last month's survey by the Government Statistician. The Monthly Abstract of Statistics states: —"A remarkable movement is observed in the related indexes of land transfers, mortgages and building permits. In each case the improvement for May over April is substantial, but while in some cases the rise is extraordinarily it must be remembered that in these instances the April figures had receded to an abnormally low level. Compared with a year ago the level attained in May of this year is more nearly equal than has been tho case for some months."

The abnormal riso of 1!) per cent was shown in the number of land transfers effected in May compared \\ith those of tho previous month. Notwithstanding this appreciable rise, however, the level attained is still 10.2 Iter cent below that for May, 1032. The value of mortgages registered shows an increase of 05.9 per cent and mortgages discharged of 65.3 per cent. Tho monthly figures are now approaching those recorded for the corresponding month of last year and show recessions of only 4.9 per cent and 3.2 per cent, respectively. The total number of building permits issued in May increased by 33.2 per cent over those of the previous month and the level attained is actually 2.2 per cent above that recorded in May, 1932. There appears to have been some stimulation in residential constuction, as permits for that class of building have increased by 37 per cent from April and as much as 70 per cent since May, 1932. The upward tendency in market prices of ordinary shares continues, the official index based on quotations at the end of May being 22 points, or 2.8 per cent higher than the April index. The May index represents an increase of 19.1 per cent above the lowest recorded level (in May, 1932). Overseas shipping was particularly brisk. Altogether, 20 per cent more cargo was handled than in the previous month and 25 per cent more than in May, 1932. In the last five months overseas vessels have conveyed 5.5 per cent more cargo than in the corresponding period of J932. Imports increased b}' 15.5 per cent during th.e month. Wholesale prices rose slightly during May, the all-groups number having increased by eight points since April.