the previous record total in 1964-65. The figures given in Table V show increases compared with 1967-68 in all the major categories of instru- ments except agreements for sale and purchase, deeds of covenant and deeds of surrender. Assignments rose by 2,994 (15.5%) over the 1967-68 total to reach the new record figure of 22,294. Of these, 836 were assignments of whole lots, sections or subsections, and 21,458 assign- ments of undivided shares in land coupled with the right to use one or more units in the building erected thereon.
23. With the increase in the number of assignments the total of the considerations mentioned therein jumped by $187,172,000 (20.6%) to $1,096,123,000, of which $850,085,000 represents the total considera- tions in assignments of undivided shares. Dividing this last total by 22,276, the number of units affected by the 21,458 assignments of undivided shares, one gets an average consideration of about $38,200 for transactions of this type as against $40,200 in the previous year and $45,200 in the year before last. This decrease is no doubt due in part to the continuance of a buyers' market, but may also to some extent be due to the trend towards providing smaller and cheaper flats.
24. With the increase in the number of assignments the number of mortgages rose from 8,661 in 1967-68 to 11,417, including 65 building mortgages. The grand total of mortgage considerations jumped to $804,539,000, 17.7% over last year's total of $683,449,000. The figure included $55,683,000 in respect of the 65 building mortgages, which therefore averaged about $857,000 each. The number of re- assignments rose by 1,336 (22%) to the new record figure of 7,421, and the relevant considerations jumped by $108,464,000 (24.2%) to $556,362,000.
25. The only other items in Tables V and VI that call for special mention are the further decline in the number of Agreements for Sale and Purchase from 3,325 to 2,669, possibly reflecting the marked drop in the value of new buildings completed and the continuing decline in the number of vacant flats (see paragraph 3); the decline from 11 to 9 in the number of Exclusion Orders made under Section 38 of the Landlord and Tenant Ordinance; the decrease from 184 to 149 in the number of Re-development Notices served under Section 3 of the Demolished Buildings (Re-development of Sites) Ordinance; and the grand total of considerations in all instruments, which was up by 20% from $2,048,609,000 last year to $2,458,539,000.
9
!