FEW LARGE SECTIONS NOW.

Star (Christchurch), Issue 18947, 18 December 1929, Page 10

FEW LARGE SECTIONS NOW.

“ IT IS TIME TO BUY,” SAYS MR C. E. JONES.

The advisability of public and private bodies in Christchurch looking ahead with regard to their future land requirements was stressed by Mr C. E. Jones, of Jones, McCrostie Co., Ltd., apropos of the recent purchase by the Manufacturers' Association of approximately two acres opposite the Railway Station. “ Not only are large areas within reasonable distance of the business area becoming increasingly scarce,” he said, “ but prices are at present on a low level which makes the time for securing property most opportune. “My experience has been that the property market in Christchurch passes through periods during which prices rise fairly briskly, followed by dormant pliases. There is no slipping back, and taken over a sufficiently long period, prices will be seen to have steadily increased. Christchurch is passing through one of the dormant phases at present, but there are already signs that another period of activity with its consequent hardening of prices can be expected very soon. “ Not only does each block of land sold reduce the remaining areas available but it has an immediate effect on prices in the locality. For instance, the purchase made by the Manufacturers’ Association in Moorhouse Avenue will undoubtedly cause an increase in property values in that area. There are indications that more of the large areas in the city are to be subdivided, and this will still further decrease the number of substantial sections available.”

The danger in not looking ahead was instanced by the suggested purchase of the Bank of New Zealand site for street widening purposes. Anyone would realise what a huge saving would have been made had a little foresight enabled that property to have been secured twenty-five years ago. Asked if he thought the time had arrived when some provision should be made for aerodromes before all the suitable areas near the city ceased to be available, Mr Jones replied in the affirmative. It was obvious’y important, he said, that landing grounds which would be increasingly necessary with the development of air traffic, should not be far away from the centre of the city.