HIGH RENTS

Stratford Evening Post, Volume XXXXII, Issue 58, 6 May 1924, Page 4

HIGH RENTS

Wellington has always been remarkable for its high rents of shops and cottages, and the fancy prices asked for all kinds of property, (writes a special correspondent of Wanganul Herald). It is quite common to see cottage properties changing hands at £IOOO to £2555, while rentals are positively exorbitant. Flats of three or four rooms are rented from £2 to £3, and shops almost everywhere carry heavy rentals, while in the main business thoroughfares they are almost prohibitive. At a meeting of creditors of a bankrupt conist, the official assignee said: "It s" 'Ds to me there ean be no doubt but the high rent has cooked the whole show." To all complaints regarding high pliers for property, tlie oiv> answer is that the building space ill Wellington i s restricted, and therefore competition for what is available is forein't un tli-> prices. This is n>t a fact, for there are acres and nrres of building sites within Greater Wellington in accommodate another 100000 pecp'e comfortably. This land is not being utilised because of the lack of transpont facilities. "The City Council will not, or cannot provide tramways, and when they do decide on extending the tramway system thev endeavour to please everyone and fail miserably.. There are many people who are beginning to think that the country would promuch mm-e rapidly if some of th» larger works were turned over to private enterprise.