XN000022-1985-11-21 — Page 3

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THURSDAY, NOVEMBER 21, 1985

THE TOTAL AMOUNT SECURED UNDER BUILDING MORTGAGES REGISTERED DURING THE FIRST HALF OF THE CURRENT FINANCIAL YEAR ROSE BY 741.9 PER CENT FROM $0.08 BILLION IN THE FIRST HALF AND BY 368.3 PER CENT FROM $0.145 BILLION IN THE SECOND HALF OF THE FINANCIAL YEAR 1984-85 TO $0.678 BILLION.

THE TOTAL AMOUNT SECURED UNDER MORTGAGES OTHER THAN BUILDING MORTGAGES ALSO ROSE BY 68.2 PER CENT FROM $7.791 BILLION IN THE FIRST HALF AND BY 76.8 PER CENT FROM $7.415 BILLION IN THE SECOND HALF OF THE FINANCIAL YEAR 1984-85 TO $13.107 BILLION IN THE FIRST HALF OF THE CURRENT FINANCIAL YEAR.

REPAYMENTS UNDER MORTGAGES OF ALL KINDS, AS EVIDENCED BY REASSIGNMENTS AND CERTIFICATES OF SATISFACTION, WERE UP BY 47.3 PER CENT FROM $7.886 BILLION IN THE FIRST HALF AND BY 58.3 PER CENT FROM $7.340 BILLION IN THE SECOND HALF OF THE FINANCIAL YEAR OF 1984-85 TO $11.619 BILLION IN THE FIRST HALF OF THE CURRENT FINANCIAL YEAR.

SEARCHES IN THE LAND OFFICE DURING THE FIRST HALF OF THE CURRENT FINANCIAL YEAR BY MEMBERS OF THE PUBLIC REACHED AN ALL-TIME HIGH OF 531 175, UP BY 53.2 PER CENT AND 32.5 PER CENT RESPECTIVELY COMPARED WITH THE FIRST AND SECOND HALVES OF THE FINANCIAL YEAR 1984-85.

SUBSTANTIAL INCREASES HAD ALSO BEEN SEEN IN THE AMOUNT

OF STAMP DUTY AND LAND REGISTRATION FEES PAID.

MR GLEESON SAID THESE FIGURES DID NOT INCLUDE THE NEW TERRITORIES, WHERE HIS DEPARTMENT HAS NOW TAKEN OVER FIVE OF THE EIGHT DISTRICT LAND REGISTRIES THERE.

HOWEVER, WITH INCREASES THERE IN THE REGION OF 30 PER CENT IN THE NUMBER OF INSTRUMENTS REGISTERED DURING THE FIRST HALF OF THE CURRENT FINANCIAL YEAR COMPARED WITH THE FIRST AND SECOND HALVES OF 1984-85 IT WOULD BE TRUE TO SAY THAT THE INCREASE IN ACTIVITY IN THE PROPERTY MARKET IN THE NEW TERRITORIES, WHILE NOT AS DRAMATIC AS THAT IN THE URBAN AREA, WAS NONE THE LESS SIGNIFICANT.

LIKE THE URBAN AREA, THE BIG INCREASES HAD COME DUR ING THE LAST 12 MONTHS.

IN THE TERRITORY AS A WHOLE THE TOTAL NUMBER OF PROPERTY OWNERS HAD INCREASED FROM 738 696 AS AT SEPTEMBER 30, 1984 AND 767 407 AS AT MARCH 31, 1985 TO 803 038 AS AT SEPTEMBER 30, 1985, AN INCREASE OF ALMOST 65 000 IN THE LAST 12 MONTHS.

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