The Pamphlet Collection of Sir Robert Stout: Volume 81
Land Valttes and Rewts
Land Valttes and Rewts.
I repeat my contention at Wanganui that the increase in rent is mainly due to increase in unimproved value of City lands. The statement above given fixes rent at 11s per week, but that is in chrischurch where rents are lower than in Wellington. I instanced Wellington and said that the unimproved value of the lands within the City boundaries had increased about 200 per cent. Apply this to a piece of land necessary for a worker's home suppose it cost £80 in 1890. it would with this increase cost. £240 in 1907. I find that about £240 is about the average cost price of the land upon which aftor 5 roomed cottage can be built in Wellington now. Rent must be paid on this increase, and converted at 5 per cent. it is equal to over 3s per week.