HL Deb 04 April 1974 vol 350 c1124WA

asked Her Majesty's Government:

Whether they will appoint a committee with the task of analysing the reasons why detached two-bedroom bungalows in the home counties, which cost £600 or £700 before the war, now cost £13,000 to £15,000; and to see whether anything can be done to remedy this deplorable situation.


The Government are most conscious of the particular problem to which the noble Lord refers. The unprecedented and very serious recent rise in house prices is one of the greatest difficulties of the housing market. The complex longer term issues are being studied urgently but cannot be solved immediately. For the short term, the Government and the Building Societies Association will complete by Easter an intensive joint study on the question of mortgage rates. The Government have very much in mind the position of existing and future mortgagors.