THURSDAY, APRIL 28, 1903
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PROPERTY REVIEW 1983 TO GO ON SALE
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THE RATING AND VALUATION DEPARTMENT'S 1983 PROPERTY REVIEW WILL GO ON SALE TOMORROW (FRIDAY) AT $65 PER COPY FROM THE GOVERNMENT PUBLICATIONS SALES CENTRE, GROUND FLOOR, G.P.O. BUILDING.
THE REVIEW COVERS THE CALENDAR YEAR ENDED DECEMBER 31, 1982, AND PROVIDES DETAILS OF SUPPLY, TAKE-UP, VACANCIES, RENTAL AND PURCHASE PRICE MOVEMENTS IN ALL MAJOR SECTORS OF THE PROPERTY MARKET.
THE RATING AND VALUATION DEPARTMENT TODAY ISSUED THE FOLLOWING STATEMENT TO ACCOMPANY THE PROPERTY REVIEW:
GENERAL COMMENTS: THE SUPPLY OF ACCOMMODATION IN 1982 EXCEEDED EFFECTIVE DEMAND IN ALL SECTORS AND VACANCIES HAVE INCREASED IN CONSEQUENCE. OFFICES AND FLATTED FACTORIES SHOWED THE HIGHEST INCREASE IN VACANCIES. THE INCREASE IN RESPECT OF LARGE FLATS AND COMMERCIAL PREMISES WAS ALSO SUBSTANTIAL. THE SMALLEST INCREASE WAS RECORDED IN THE RESIDENTIAL SECTOR AS A WHOLE.
REFLECTING THE IMBALANCE BETWEEN SUPPLY AND DEMAND PRICES HAVE FALLEN SIGNIFICANTLY IN ALL SECTORS. RENTS TOO HAVE FALLEN IN MOST SECTORS, THOUGH GENERALLY LESS THAN PRICES.
DOMESTIC (ALL CLASSES)
SUPPLY IN 1982
TAKE-UP IN 1982
VACANT AS AT 31.12.82
FORECAST SUPPLY IN 1983
NO. OF UNITS
23 900
19 600
31 700
6.0 PER CENT OF STOCK
24 100
THE PRICE INDEX FELL BY 18 PER CENT OVER THE YEAR, WHEREAS THE RENTAL INDEX REMAINED STEADY.
DOMESTIC (LARGER UNITS)
NO. OF UNITS
SUPPLY IN 1982
2 500
TAKE-UP IN 1982
1 200
VACANT AS AT 31.12.82
3 800
8.7 PER CENT OF STOCK
FORECAST SUPPLY IN 1983
3 600
/THE PRICE
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