| 1929 - 1938 | |
The impact of the Great Depression is reflected in the statement of accounts for the REIQ from the annual reports of 1929 and 1931. Income from subscriptions fell by 27 per cent. Cash in the bank fell from almost £120 to only £3.7s 10d. Things were getting tight. In the reports from 1929 to 1934 the word "depression" could not be found but in 1935 Ray White began to refer to that period as "pre-depression". The outlook for business seemed to be on the improve with building approvals doubling the level of the previous year. However severe drought still racked much of western Queensland and pastoralists suffered greatly. Many workers took reduced wages - some by as much as 50 per cent - to stay in employment. The Australian backyard chook pen provided eggs and almost everyone had their own veggie patch. |
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In 1931 the annual REIQ subscription for country members or those outside the Brisbane area, was reduced to a guinea (£1 1s or $2.10) to assist those in financial difficulty. The State Government stated in 1935 that it was thinking seriously about the registration of salesmen as a very necessary improvement in the field of real estate. Not surprisingly it went in the "too-hard" basket and nothing was done for another 32 years. It was possible to purchase a modest new home from around £500 ($1000). It was accepted that a tenant would have to pay about 25 per cent of his weekly income for accommodation and that belief continued through until after the Second World War. During the 1930s REIQ branches were established in Toowoomba, Rockhampton, Ipswich, Southport and Cairns. |
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Order your copy of Dreams, Deeds and Dedication: A History of the REIQ here |
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1929-1938 |
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