HC Deb 21 December 1973 vol 866 c453W
Mr. Ashton

asked the Secretary of State for the Environment what is the average cost of a new house in the East Midlands area and the monthly repayment necessary to purchase it over 25 years on a 90 per cent. mortgage, and what were the equivalent figures for June 1970.

Mr. Channon

The average price of a new house in the East Midlands mortgaged with building societies in 1972 was £5,796 and the monthly repayments on a 90 per cent. mortgage for 25 years £40.70 gross and £30.20 net of tax relief in the first year for a standard rate taxpayer. The comparable figures for 1970 were £4,274, and £31.30 gross and £23.10 net respectively. On the actual average advances for houses in the region mortgaged with building societies the repayment figures over 25 years are, however, £27.30 gross and £19.70 net for 1970 and £35.20 gross and £26.10 net for 1972.

Regional house price figures for periods other than whole years are not available.