HC Deb 31 July 1962 vol 664 cc47-8W
36. Mr. A. Lewis

asked the Minister of Housing and Local Government and Minister for Welsh Affairs if he will give the average cost of a three-bedroom house built in the county borough of West Ham in March, 1951, and March, 1962, respectively; to what extent the size of such houses are comparable; and what would be the interest rates payable in each instance if the money for the cost of these houses was borrowed at the then current rates of interest and repaid over a period of 20 years.

Mr. Corfield

The nearest schemes including three-bedroom houses for which separate prices are available were completed in September, 1951, and January, 1961. The average tender prices were £1,373 and £2,112 and the average sizes 1,003 square feet and 1,039 square feet respectively.

The Public Works Loan Board interest rates for a 20 year loan were 3 per cent. and 5¾ per cent. at the respective dates of tender approval.

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