XN000022-1984-04-26 — Page 2

THURSDAY, APRIL 26, 1984

'STRONG INHERENT DEMAND' SEEN FOR ACCOMMODATION

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THE INCREASED TAKE-UP OF ACCOMMODATION IN ALL SECTORS DURING 1983 INDICATED STRONG INHERENT DEMAND, THE COMMISSIONER FOR RATING AND VALUATION, MR R.A. FRY, SAID TODAY,

CONFIRMING PRELIMINARY FINDINGS ANNOUNCED EARLIER THIS YEAR, HE SAID HE BELIEVED THAT THE MORE REALISTIC ATTITUDES OF DEVELOPERS, AS REFLECTED IN THE IR MARKETING POLICIES AND THE REVISED FORECASTS OF SUPPLY IN 1984, WOULD LEAD TO A FURTHER DECREASE IN VACANCIES IN MOST SECTORS AND PROMOTE A MORE BALANCED MARKET SITUATION.

MR FRY WAS SPEAKING ON THE RATING AND VALUATION DEPARTMENT'S 1984 PROPERTY REVIEW, WHICH IS AVAILABLE FROM THE GOVERNMENT PUBLICATIONS CENTRE AT $65 A COPY,

THE REVIEW COVERS THE YEAR ENDING DECEMBER 31, 1983 AND PROVIDES A SUMMARY OF SUPPLY, VACANCIES, TAKE-UP, RENTAL AND PURCHASE PRICE MOVEMENTS IN THE MAJOR SECTORS OF THE PROPERTY MARKET.

MR FRY SAID THAT THE FURTHER SOFTENING OF RENTALS AND PRICES IN ALL SECTORS OVER THE YEAR HAD CONTRIBUTED TO THE INCREASED TAKE-UP.

+BY THE END OF THE YEAR A MORE STABLE POSITION WAS EMERGING FOR SMALL DOMESTIC UNITS AND WELL-SITUATED FACTORY UNITS WHILE THE GENERALLY IMPROVED OUTLOOK SEEMED LIKELY TO MODERATE FALLS ELSEWHERE, HE SAID.

DOMESTIC (ALL PREMISES)

(NO. OF UNITS)

SUPPLY

TAKE-UP

VACANCY

VACANCY AS A % OF STOCK

1982

23 900

19 600

31 700

6.0

1983

23 900

27 800

25 500

4.7

1984

20 200

+WHILE THE FORECAST SUPPLY FOR 1984 HAD BEEN REVISED DOWNWARD TO SOME 20 000 UNITS, A RECORD SUPPLY OF JUST OVER 35 000 UNITS WAS ANTICIPATED IN 1985.

+TAKE-UP IN 1983 AT NEARLY 28 000 UNITS INCREASED SIGNIFICANTLY AND VACANCIES FELL TO 4.7 PER CENT OF STOCK COMPARED WITH SIX PER CENT A YEAR EARLIER.

/+THE RENTAL