No two properties are created equal - Mary Holm

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Sunday 4 April 2004

Q. Your correspondent who bought his house for $19,000 in 1968, and it is now "only" worth $300,000, obviously bought the wrong house in the wrong suburb.

What is more unforgivable is that your patsy answer took his patsy calculations at face value, thus doing a gross disservice to your readers.

I was active in buying houses during the same era. My records show th

By The Landlord

at I bought houses in Mt Eden, Epsom, Sandringham and Remuera around the same time, for prices ranging from $12,000 to $18,000 each.

These houses are now worth somewhere between $650,000 and $2.5 million each.

Your continuing bias on this subject and lack of knowledge that you constantly display is not doing your readers any favours. Taking one example and parading it as the truth for the whole $20 billion-a-year property market tells me one thing.

You would serve your readers better by telling young marrieds how to stretch the housekeeping money rather than tendering financial advice on which you obviously have no knowledge.

It would be interesting indeed if you told your readers just how many properties you have bought and sold during your lifetime, so that we can all better gauge your credentials.

Signed: Olly Newland (45 years in the business). PS: I challenge you to publish my name and the full uncensored contents of this letter in your next column.

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