AUCKLAND PROPERTY

Taranaki Daily News, 22 December 1932, Page 5

AUCKLAND PROPERTY

SMALL PUBLIC INTEREST. FEW BIDS AT AUCTIONS. Auckland, Dec. 17. The quiet conditions in the property market were illustrated yesterday when at one sale 13 properties were passed in, and at another no bids were received. The premises of Messrs. Harrison and Gash, at Newmarket, were offered at auction by Samuel Vaile and sons, Ltd. There was a remarkable lack of interest, however, and not a single bid was received.

’ In the second instance, 13 properties in the estate of the late Mr. George Winstone were offered at auction by Robert C. Carr and Son. The sale was held in the Chamber of Commerce, and there was a good attendance. For some of the properties, however, which included blocks of shops and dwellings in various parts of Auckland, there were no bidders, while in no case did the offers received reach the reserve. The properties were accordingly passed in. The auctioneer said the bids did not reach one-third of the Government valuations on any of the properties. In one or zo instances there was a little competition between bidders for some of the smaller lots, but the offers were generally low. An outstanding case was a bid of £2OO for a five-roomed brick house in Mount Roskill, which had recently cost £1642 to build. Bids for the property started as low as £lOO, and £2OO was the maximum offered.