DEMAND FOR FARMS

New Zealand Herald, Volume LXXIII, Issue 22435, 3 June 1936, Page 9

DEMAND FOR FARMS

TRANSACTIONS IN TARANAK! MUCH RECENT ACTIVITY More land sale transactions are reported to have taken place in Taranaki in the past two months than during any similar period for several years. Presumably owing to the prospect of more stable and economic prices for primary produce overseas, land values show signs of recovering to normal level, and there are inquiries from both buyers and sellers.

Agents are reticent as to the actual number of sales made, but inquiries in Taranaki towns show that there -have been a considerable number of transactions and inquiries, particularly during the past few weeks. Highprodiioing and highly improved land in South Taranaki has brought as large a" sum ais £75 an acre, farm buildings and stock being included in this figure. Inquiries are largely for freehold properties, o:f which there seem to be ; offering fewer than would meet the demand. The average price for good /quality land seems to be about £45 aji acre. Although the greatest activity in the market appears to be in the southern end of the province, there has been some movement in North Taranaki au well. One of the best recent sales waß that of a coastal farm of 117 acres for £SO an acre as a going concern. This transaction cannot, however, be taken as a criterion of values, for the property, which carries 80 cows, is highly improved both in land and in buildings. Allowing for the value of tho stock, the price is equivalent probably to £4O an acre. There has been a fair inquiry in the past week or two for farm properties, particularly for lease, though there is business also for freehold places of from 80 to 100 acres. Cash offers are the exception, most of the inquirers having £SOO to £IOOO to invest. Farms in tho lnglewood district vary in price from £2B an acre for poorer quality land to £34 for improved farms. One highly-improved farm in the Hawera district has been sold at £cio an acre. Most inquiry is for blocks varying between 75 and 100 acres with deposits ranging between £SOO and £6OO. Other good land is selling at from £4O to £SO an acreA Stratfoi'd agent said that in Central Taranaki there was not a 'great deal of activity, because buyers and sellers preferred to wait until the effects of the guaranteed price and the labour legislation were felt. What demand there was existed chiefly for relatively small areas.