§ Mr. CallaghanTo ask the Secretary of State for the Environment if he will make a statement on the house building industry in the Greater Manchester area. [10300]
§ Mr. ClappisonThe value of new orders for house building in the Greater Manchester area in 1994, the last complete year for which statistics are available, was £61 million local authority and housing association and £250 million private. This compares with £24 million and £100 million respectively in the first half of 1995.
The value of new orders for private housing in Great Britain in the three months to November 1995 was 1 per cent. higher than in the previous quarter. The Government welcome this small improvement and continue to promote economic policies based on low inflation, sustainable growth and sound public finances which will encourage a return of consumer confidence and help ensure the long-term health of the housing market. The affordability of housing for purchase is excellent, with mortgage rates at their lowest for 30 years.