REVIVAL EXPECTED.

Star (Christchurch), Volume XLIV, Issue 708, 8 March 1933, Page 2

REVIVAL EXPECTED.

Real Estate Institute’s Review. Th® Canterbury-Westland branch of the Real Estate Institute of New Zealand, in its review of the property market last month, states:— Although the real estate business showed signs of distinct recovery during the latter part of last winter and early spring, the unsettled economic conditions which followed made it most difficult to negotiate business. Now that the Government has indicated its intention to relieve the interest burden of all sections of the community, leaders in the real estate field consider that there should be a slow but sure revival of confidence in the real estate market. The business recorded for February included the sale of a dairy farm at Southbrook, another in the Doyleston district at £2B per acre, while a small holding in Halswell also changed hands. The residential market, though quiet, was represented by the sale of four properties at prices ranging from £250 to £llOO, while a large new bungalow was disposed of for cash at a figures in excess of £2OOO. Two Merivale sections and one or two In other districts were * disposed of. The demand for suburban holdings is represented by the sale of a Government ■ leasehold poultry farm of ten acres, together with dwelling, at £1250, while other small areas from two to five acres were leased for terms ranging from three to five years. Some confidence continues to be shown in the retail shop market, three satisfactory leases being recorded in the Sydenham district and one or two others in the central area. The demand for houses to let below £1 per week continues unabated, it being quite evident that people are still seeking to lower their cost of living by securing dwellings at cheaper rentals, * • and reports go to show that the better class of bungalows handy to town are becoming more scarce. Farm buildings are naturally slow of sale during the summer months, though the approach of autumn is bringing the usual inquiry, which will doubtless be encouraged by the favourable exchange.