No. 165

The sale of building Lots at the new Town of Queensborough,
took place on the 1st and 2nd of the present month at Victoria.

2. The result has proved most satisfactory as a financial
operation, and indicates a general confidence in the future of the
Colony.

3. The actual amount of sales was rather over Eighty-nine
thousand dollars ($89,000)
on which a deposit of 25 per cent was made on the
purchase, the remaining balance to be paid in three equal instalments
on the first day of July, August, and September next respectively.

4. Three hundred and eighteen lots were offered for sale, and
Three hundred and ten were sold. One hundred and Ten Lots are
reserved for future sale. The largest sum realized for a single
lot was One Thousand Nine Hundred and Twenty Five Dollars ($1925)
and the average price of the Lots sold was nearly Two Hundred and
Ninety dollars ($290).

5. The accompanying statement, from the Department of Lands
and Works, is transmitted for your information. It distinguishes
the actual sums of money received and due, on the Sale from the
amounts already paid on Langley Titles, which were transferred to
Queensborough under the provisions of the Proclamation of 14th
Feby last. It is not impossible that this concession, led in
some manner to the high prices obtained for the Queensborough lots.