FARM PROPERTIES

New Zealand Herald, Volume LXXII, Issue 22165, 19 July 1935, Page 12

FARM PROPERTIES

IMPROVEMENT IN DEMAND SEVERAL SALES REPORTED PRODUCTION AND PRICES " Still further improvement in the demand for farm properties was reported yesterday by several Auckland land agents, a number of whom gave instances of actual deals that had taken place during the past week. At the same time the opinion was freely expressed that no great volume of business was likely to be clone until there was a big reduction in the wide margin between the demands of sellers and buyers. Probably the greatest number of sales had taken place in the Waik'ato, the purchasers being experienced farmers from further south.

"Prospective sellers are far too inclined to think in terms of the productive values of a £pw years ago," said one agent. "Those wishing to buy naturally are compelled to consider only the immediate prospects and are not willing to gamble on a material rise in prices for produce. The second class have no reason to change their views and the whole question of the future depends on sellers moderating their demands. Where the price asked has been reduced to a reasonable figure, sales are readily taking place." "One of the popular demands at present," said a leading agent, "is for coastal sheep properties of about <'3oo acres. On these the buyers hope to establish comfortable homes in pleasant surroundings and at the same time clear enough by farming to pay their way. Such properties are very scarce, the present owners being quite content to remain where thev are."

The outlook for farm produce prices ■was responsible for a certain amount of hesitation on the part of purchasers, according to several agents. Butter-fat prices were not expected to make a marked rise, while the recently concluded meat arrangements only dealt with the period until the end of 1936, which gave buyers only ono year of certainty.

The properties actually sold during the past week covered a wide range from smaller dairy farms to partlyimproved sheep country. In the former class were mentioned two of just under 100 acres on good soil and well situated, v both selling for about £3O an acre. Another case was quoted of a sale of a large property on the Kaipnra coast, in an area that is being opened up and that has hitherto been more or less neglected through' ignorance of its possibilities. In a further sale the purchaser was a farmer of long experience who had found what he expected to be the ideal location for a straight-out pig farm, with prospects of producing all the necessary feed on the property.