§ Mr. McBrideasked the Secretary of State for Wales what were the construc-
CONSTRUCTION COSTS Type of Dwelling 1970 1971 1972 (provisional figures) 1- and 2-person single storey (1-bedroomed) … 1,682 * * 3-person single storey (2-bedroomed) … 2,887 3,209 * 4-person 2-storey (3-bedroomed) … 3,149 3,549 4,319 5-person 2-storey (3-bedroomed) … 3,491 3,999 4,857 Figures are not yet available for 1973. * indicates that no separate Welsh figures are available. A local authority normally borrows the whole cost, funding over 60 years but is free to borrow over a shorter term.
The rate of interest payable fluctuates and varies from authority to authority, dependent on such factors as whether the loan is raised on the open market or from
350Wtion costs of a one, two and three-bedroom council house, respectively, in 1970, 1971, 1972, and to the latest date in 1973, stating the amount loaned to local authorities for construction purposes, the rate of interest paid, the number of years over which the loans were funded, and the total amount, including capital and interest payments which must be paid by the end of the funding period.
§ Mr. Peter ThomasThe following are the available figures of construction costs of local authority houses in Wales. Construction costs include superstructure, substructure and external works but are exclusive of land, site development works and fees.
the Public Works Loan Board, the term of loan, and whether the authority operates a loans pool or consolidated loans fund which reduces the effective interest rate of new borrowing. The total amount payable also varies according to the term and method of borrowing.