§ Mr. MaddenTo ask the Secretary of State for the Environment whether his Department agreed with Wimpey the sale price of properties at Lower Grange in Bradford at the time city grant assistance for the development was agreed; whether his Department issued advice to the developers over what action they should take 261W to safeguard against speculation over the purchase of such property, including prohibition on early re-sale; and if he will make a statement.
§ Mr. KeyThe appraisal of the application for city grant involved the Department's assessment of the likely open market prices of the houses. It is not the Department's practice to issue advice to developers about speculation by purchasers but conditions of grant specify that the houses will be sold at the best prices reasonably obtainable on the open market and that not more than one house is sold by the developer to each purchaser. There is no prohibition on early resale.