12. In the ten years from 1922-1923 to 1932-1933 the rateable value of the Colony has increased by $17,651,796 or 89.12 per cent.
13. The large development on the Praya East Reclamation has had the effect of drawing a number of tenants from various parts of the City, with a consequent steadying tendency on the rentals of flats. It is remarkable how the rows of new houses on this reclamation have gradually filled up, the ground floors, however, being more difficult to let than the upper floors. The demand for housing accommodation is much stronger than that for trade premises.
THE TREASURY,
30th May, 1932.
EDWIN TAYLOR, Treasurer & Assessor.