AUCKLAND LAND SPECULATION.

Oamaru Mail, Volume XXXIX, Issue 10675, 26 January 1911, Page 4

AUCKLAND LAND SPECULATION.

CRITICISMS ANSWERED. (Per Press Association.) Auckland, January 21. The Mayor of Auckland (Mr L. J. BagnalT), interviewed regarding the remarks of the Mayor of Wellington on the* question of land booming, said there wasjalways the danger of people becoming:'over optimistic when times were goocL'; In this respect he was inclined to concur with the opinion expressed by Mx D. M'Laren, M.P. "It is natural that people who want to dispose of property should look to do it when times are good," said the Mayor, "but there is the risk of "people being lured into speculation with the idea that things will still further improve. Sellers are willing to let property go on small deposit with principal and liability to be deferred. If it should happen that a reverse in property takes place, even of a. temporary character, it is possible thai those who have been speculating will find themselves in difficulties. So far as I can 6ee that is the one great danger before us in Auckland. There is. a very extensive area available for legitimate settlement in residential quarters, and a large opening for business buildings likewise. There is unquestionably a strong demand for rural land, especially land suitable for dairying That is -a healthy demand, which will be maintained with the steady and assured development of the province, but it "is a mistake for -people to buy unless they really-need the land. No matter how Auckland expands there will always be room for further development. There is never likely to be any scarcity of land in the vicinity of Auckland for suburban settlement.