§ 55. Mr. David Priceasked the Secretary of State for the Environment whether, in view of the latest information from the Nationwide Building Society, a copy of which is in his possession, that the average price of new houses mortgaged to that Society in the second quarter of 1972 was £11,531 for London and the South-East Region and £10,043 for the Southern Region, he will now raise the limit from £7,500 to £10,000 for Government-assisted guarantees for high percentage loans made under the option mortgage scheme to less well-off borrowers.
§ Mr. AmeryAny average house price figures will include a range of lower as well as higher prices. The national figures for option mortgage guarantees continue to rise, and I therefore do not think it necessary to increase the guarantee limit at present. But I will keep the limit under review.