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£400 MADE IN MINUTE IN SALE OF HOUSE

PARLIAMENT BLDGS., Last Night (PA).—Speaking in the debate on the Budget, in the House of Representatives tonight, Mr. Connelly (Opp., Dunedin Central), said that the removal of control from urban property sales had led to amazing price increases. One Dunedin property was put on the market on December 22. 1949 and the land sales value was fixed at £1545. This was unacceptable to the vendor who withdrew the property from sale, but at 2.41 p.m. on March 28, 1950, the same property was bought by an auctioneer who had been prominent in the National Party, for £2lOO. At 2.42 p.m. on the same day another ttasaction was recorded—the sale of the property for £2504). Thus £4OO had been made in one minute. Why had not the Prime Minister honoured his election promise that properties up to £3OOO would remain subject to land sales control.

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https://paperspast.natlib.govt.nz/newspapers/WC19500907.2.60

Bibliographic details

Wanganui Chronicle, 7 September 1950, Page 5

Word Count
152

£400 MADE IN MINUTE IN SALE OF HOUSE Wanganui Chronicle, 7 September 1950, Page 5

£400 MADE IN MINUTE IN SALE OF HOUSE Wanganui Chronicle, 7 September 1950, Page 5