LAND VALUES

Poverty Bay Herald, Volume LII, Issue 17158, 7 October 1926, Page 11

LAND VALUES

THEIR RISE AND FALL SPECULATIVE BUYING When the Agricultural . Science Oliib met at Christehurch Mr. R. Rodwell, of lite EeOnomics Department of Canterbury v lege addressed about a dozen yiembers on the " Course of Land Values in Canterbury." Mr. 0. E. Foweraker occupied 1 the chair. > The chairman introduced the speaker, who hadl for some time been working with Professor Condliffe, in statistical work on the rise and fall of Canterbury land values. . . Mr. Rodwell illustrated, with graphs, the fluctuations in land values from 1914. In*that year, and lo 1915. the rise in value, was sharp, due to rising prices and! productivity. In 1915 the value of production fell, but prices continued to rise though less quickly, and land values continued their -upward course, but more slowly. After that t idudivitv fell until 1917, when it hadi reached its 1914 level. In 1917 to 1918 values remained! low though prices were rising. Then the troops returned .♦rim overseas in 1919, and prices showed a great upward tendency. Productivity also increased, butt less quickly titan might hare.been expected, due in a largo measure to the inexperience of many of the farmers. This rise induced buying for speculative purposes. This continued till 1920. but in 1921 prices fell heavily and the fact was recognised that more must be produced. In 1923 tjiere was a rapid rise in productivity, about ICO per cent above that of 1914. After 1922 prices fell and then began to rise again, a, fall in productivity resulting from many men going off the land. After Mr. Bod well _ had dealt fully with the" result, of his investigations, a discussion on, various aspects of the address took place, and members asked many questions on points raised,