Fall in house prices unlikely

SLUMPS deferred must be making sick the hearts of toocautious wouldbe house buyers, and there is still little prospect of the long “waiting for houses to be much cheaper” meeting the anticipated reward (says the Christchurch Star). One leading Christchurch house agent expressed the opinion today that in six months’ time the housing shortage would be more pronounced than ever. He based his opinion mainly on the very little building in progress, the high cost of materials, and the financial stringency stopping a lot of speculative and other house building. Following the usual “quiet” months of November and December the house and estate business has begun to get busy again. Inquiries for houses for sale are numerous, and there is every prospect of many dealings in the next two or three months. The autumn is becoming busier than the spring where house transactions are concerned. Harvesting once over, farmers who propose to retire will be buying houses in the city to get settled before the winter. There is very little prospect so far of a drop in values.