HOUSE PROPERTY.

Otago Daily Times, Issue 19761, 12 April 1926, Page 10

HOUSE PROPERTY.

POSITION IN AUCKLAND. (F.uoji Our Own Correspondent.) AUCKLAND. April 11. For the last two or throe month* the demand for house property has been much below normal, and there are a number of cases where speculative builders have had bungalows on their hands Lr so.-.e time. The past few weeks however, have seen a little more movement not only in house property but also in sections, business in which has been exceedingly quiet this summer in comparison with that of the past two or three years. Some inquiry has also been made for farms. Ihe signs of a revival in the property business have more or less synchronised with the ending of the financial vear. As a result of the great amount of building at has tak. place in the past few years the housing question is no longer a problem except perhaps to the improvident and nfortunate. A great number of large, old-fashioned houses are on the market In regard to the modern type of house the price standard is fixed more bv the situation and environment than by the building costs. Some exceedingly high prices have been given recently for sections in good localities, and the probabilities are that costlv houses will be 1 dt upon them. Manv of the unsold new houses are standing idle the owners being too afraid of the danger of getting bad tenants to let them. One prominent firm of land agents states that house rents are falling. Where a weekly rent of £3 and obtained for a good family house a vear ayo the price is asked * vain to-day.