HOUSE BUILDING.

Star (Christchurch), Volume LXIV, Issue 904, 27 October 1933, Page 5

HOUSE BUILDING.

Activity in Near Future Predicted. MANY INQUIRIES. Considerable activity in house building in the near future was mentioned as a possibilitv by Mr A. S. Taylor, chairman of directors of the Christchurch Building and Land Societ}' at the annual meeting of shareholders last evining. “It is evident that a considerable amount of house building will be required in the near future and, with improving business conditions, there should be a great expansion of building society business,” said Mr Taylor. “ During the last two months there has been a number of inquiries from people requiring loans on mortgage for house building. A few of these have been granted assistance under the Government unemployment scheme for building subsidies. For the most part these applications have been from genuine home-builders. Rumour has it, however, that speculative builders have lodged numerous applications for subsidies on houses to be built on sections owned by them, in the hope of securing buyers for proposed buildings. In some cases, these projects have already fallen through, owing to inability to secure the necessary money on first mortgage. It is to be hoped that this speculative activity will not bring about an undue increase in the price of housss and again produce the problem too common during the past ‘ boom ’ period > of persons buying houses and undertaking repayments at figures quite beyond their means. “ The slump in building values has brought the problem of the old and dilapidated type of building prominently before those engaged in considering mortgages on house property. A census of dwellings of this type might very usefully be undertaken by the City Council. Figures should be obtained as to houses which should already be condemned, or are fast approaching the point of condemnation, and some estimate formed.of future housing require-: ments.”