HC Deb 17 October 1973 vol 861 cc176-7
3. Mr. Horam

asked the Secretary of State for the Environment what has been the percentage increase in the average price of an acre of building land since June 1970.

The Minister for Housing and Construction (Mr. Paul Channon)

I would refer the hon. Member to the answers I gave to the hon. Member for Rother Valley (Mr. Hardy) on 20th June 1973.—[Vol. 858, c. 679–80.] These relate to the latest published figures which refer to the second half of 1972. I hope the figures for the first half of 1973 will be published soon, and I will be in touch with the hon. Member.

Mr. Horam

I thought that the Minister might try to dodge the question, and I took the opportunity to look up the figures. Is the hon. Gentleman aware that, on the basis of his previous replies, there has been an increase of 250 per cent. in land prices since the General Election? When will this Government realise that if we are to control the development of land we must also control its price?

Mr. Channon

We are all agreed that land prices have risen too rapidly. However, no one in his wildest dreams has suggested that the price of building land has risen by 250 per cent. I can assure the hon. Gentleman that that is totally without foundation.

Mr. Arthur Jones

Is my hon. Friend able to confirm my own information, which is that building land prices have dropped in the past few months? Is my hon. Friend able to comment on the figures which I have, showing that a recent price of £50 per acre for land for residential development has come down to less than £40?

Mr. Channon

The most recently published figures refer to the last half of 1972. There is a time lag of at least four months in the figures. In my view the figures are not satisfactory because they are so out of date. However, I think that my hon. Friend is right. I hear more and more reports that land prices are beginning to go down.

Mr. Freeson

It was clear in June, from the hon. Gentleman's reply, to which reference has been made, that there had been an increase of 100 per cent, in the average price of building land in a period of 12 months. Is the hon. Gentleman really saying that the allegation of a 250 per cent, increase in the past three years is totally without foundation? If he is, will he give us the figures on which he bases that assertion?

Mr. Channon

I shall be in touch with the hon. Member for Willesden, East (Mr. Freeson) as well—[Interruption.] Hon. Members are entitled to put down Questions and I shall answer them. When the figures are published, I shall be in touch with the hon. Member for Willesden, East.

Mr. Horam

On a point of order, Mr. Speaker. In view of the unsatisfactory nature of the Minister's replies and the unsatisfactory nature of the statistics apparently underlying those replies, I beg to give notice that I shall seek an early opportunity to raise this matter on the Adjournment.