LAND BOOMING.
Previous to a land sale in Wellington, Mr T. Kennedy- Macdonald made the following significant remarks:—A system of barter had grown up during the last three years, and it had only one effect ■- viz., that of placing fictitious values upon properties, and so swelling the real value of every property in every street in the city and suburbs, and in many cases giving fictitious values also to country properties. In some cases which had come before him he had found country settlers rejoicing in having sold their farms . at 150 per cent, above their real value to towu speculators, who on their part were rubbing their hands at having got twice the value of the town properties which they had exchanged for the country properties. It was almost a pity, Mr Macdonald added, that the Government did not take steps to bring those kinds of transactions to an end, because they simply deceived the public as to the real value of lauded estate.
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Bibliographic details
Wairarapa Daily Times, Volume XXX, Issue 8452, 17 May 1906, Page 7
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165LAND BOOMING. Wairarapa Daily Times, Volume XXX, Issue 8452, 17 May 1906, Page 7
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