PROPERTY MARKET

Southland Times, Issue 20445, 24 March 1928, Page 8

PROPERTY MARKET

AN OPTIMISTIC TONE KEEN DEMAND FOR SMALL FARMS TOWN RESIDENCES CHANGING HANDS With the object of ascertaining the state of the property market in Southland, a Times reporter waited upon a number of local land and house agents yesterday, the concensus of opinion gathered being that business at the present time was extremely satisfactory. “Farm property in particular has been in keen demand,” said one agent, “though most of the inquiries received are for small one-man farms. The increase in the price of farm produce has undoubtedly been responsible for the back-to-the-land movement, and at the present time we have buyers for four farms. Any farm at a reasonable price can be disposed of, and it may interest the public to know that we have had several inquiries from northern people desirous of settling on the land in this province. Only last week we sold a farm at Orawia to a North Island man, so you can see that Southland is beginning to come into its own as a farmer’s paradise.” In answer to a question as to the state of the house market, the agent said: “House business has been normal, and that is all I can say about it, but a peculiar thing is that we have sold more houses for cash since Christmas than fbr some years past. Good business is being done in the smaller class of house,” he continued, “and we have negotiated several sales of four and five-roomed places.” “How are the sales of wooden houses in these days of rough-cast?” asked the reported. “Wooden houses are fairly slow,” was the reply, “but there is always a certain section of the public who will not look at rough cast, and we have sold a few wooden places lately. However, though the days of the wooden house are not over by any means, the rough-cast and brick places offer a better investment. They do not depreciate in value to the same extent and the upkeep is much smaller. Practically all the young married folk buy rough-cast places and after all the price is not so very much more than the older type of house. We have had a good demand for suburban houses with two or three acres of ground to run a cow on, a good many retired farmers preferring such properties. Small suburban stores are a good proposition and have been selling freely for some time past. “Yes, many more people are renting houses to-day than was the case a while ago,” said the agent in reply to a question. “Rents have dropped slightly, but people are very hard to please with rented houses.” Most of the agents visited stated that they were quite satisfied with the market at the present time and were of the opinion that Invercargill property sales were better than in northern towns, owing to the fact that prices had never soared so high as was the case elsewhere. They stated that the bottom of the property slump had been reached some eighteen months ago, and a steady improvement had been evident ever since, public confidence being restored. No big property deals were being negotiated, but the general volume of business was quite satisfactory, the opening three months of the present year proving to be better than had been experienced for at least four years. “We are looking forward to doing some big business with the Canterbury farmers,” said one agent with a smile. “When they see the fertile farms of Southland they will not rest content until they take up land down here.”