§ Mr. Lofthouseasked the Secretary of State for the Environment what are the assumptions underlying the estimate of capital receipts accruing to local authorities, including the sale of council houses, housing land and the repayments of loans and advances for housing purposes in the year 1987–88.
§ Mr. TraceyThe housing capital receipts of local authorities are forecast to be £1,581 million in 1987–88. The details are as follows:
£ million cash Receipts from sale of land 100 Initial receipts from council house sales 1,000 Discount repayments 21 Repayment of sums left outstanding on sales 330 Repayments of loans to private persons 105 Repayments of loans to housing associations 25 1,581 The assumptions about council house sales on which these forecasts are based are:
42W
Forecasts Number of completed sales 80,000 Average selling price net of discount £15,600 Average level of discount 47 per cent. Average level of private finance 80 per cent.