A LAND BOOM.
The Auckland correspondent of the Otago Daily Times says :— There are signs in the air that with the approaching summer we will experience aland boom. The land agents are beginning to wear, the self-satisfied air of the share brokers, and blocks of land in the suburbs are being cut up into sections and mapped out. A general advance in landed property is going on all along the line. Various causes are assigned for this. One is that the lowered rate of interest on bank deposits is compelling investors to look out for more remunerative methods of using money, and that, with rents going up, house-building is the most profitable mode of utilising capital. A second reason given is that land speculation has been stimulated by the prospect of the electric tramways system being introduced, and laud along the proposed routes has been changing hands at advanced rates. The new company propose to reduce fares by 33 per cent,, wliich it is estimated will lead to increased traffic and to people residing out in the suburbs.
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Bibliographic details
Star (Christchurch), Issue 5687, 5 October 1896, Page 3
Word Count
178A LAND BOOM. Star (Christchurch), Issue 5687, 5 October 1896, Page 3
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