58. Mr. Wileyasked the Secretary of State for the Environment what steps he is taking in view of the rapid increase in house prices.
§ Mr. ArmstrongSince April, the Building Societies Association has agreed with the Government on a moderation in the level of building society lending for house purchase. The objective has been to prevent the volume of building society lending becoming a destabilising influence in the housing market. We are now discussing with the BSA appropriate levels for the first half of 1979.