SMALLER FARMS SOUGHT

Poverty Bay Herald, Volume LXIV, Issue 19364, 30 June 1937, Page 5

SMALLER FARMS SOUGHT

DAIRYING PROPERTIES INCREASED LABOUR COSTS AUCKLAND INDICATIONS (Special to the Herald.) AUCKLAND, this day. Although considerable discrepancy between the prices asked by buyers and sellers is stated to exist, a fair amount of activity continues in the sale of farms. Few large deals have been reported, but although the main season for transactions has passed land and station agents report a fair measure of business in the disposal of smaller properties. “In many cases the views of buyers and sellers do not coincide and the deposits that are asked are heavier than is necessary to provide a safe balance for mortgage commitments,” the principal of one firm said yesterday. “There is still a demand for farms of the smaller type which do not entail the employment of labour, but a number of sales are hindered by the margin which exists between the buyers’ and sellers’ views.” Another stock and station agent said that the present demand seemed almost confined to dairying properties of between 50 and 100 acres, and to land for fat lamb raising from 200 to 500 acres. Inquiries were mostly for fully-improved land in the Waikato district, and sections in the north of Auckland and the King Country were not so keenly sought when higher values had commenced to rule, for stock buyers had shown hesitancy in entering the market, but when the high rates were maintained more confidence in the real estate market was experienced. Another land agent said that at present the rural market was very quiet. Purchasers, he explained, were chary of sinking money in land on account of the legislative influences and the high costs that were entailed in stockin properties. More freedom was shown in regard to going concerns, but no big deals had been reported.