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The Pamphlet Collection of Sir Robert Stout: Volume 44

Horsehoe Bush Estate

Horsehoe Bush Estate.

On the sea coast about 35 miles from Dunedin, consisting of 2,000 acres ridgy country, of which about 400 acres have been ploughed and improved, was sold privately for agricultural and cattle breeding purposes for £20,000.

As an example of the rapid rise in value of properties of the above description, Terrace Ranges was sold at 50s. per acre, and re-sold within a month for 60s.; Coombe Hay brought £20,000, and was re-sold within two or three months for £23,750. Waihola, a property of 3,500 acres, high land, sold at £3 per acre, and present owner lias since refused £3. 10s.

Maclean Brothers report 15th January, 1878:—

"This afternoon we submitted to auction the Brooklands Estate, Pleasant Valley. There was a large attendance of page 31 buyers; the competition was brisk throughout, and with the exception of one lot of 49 acres 2 roods and 30 poles, all the sections offered were sold at prices ranging from £18 to £44 per acre, making a total of £11,876. 13s. 10d., or an average of £24 per acre."