§ Mr. EMLYN-JONESasked the Minister of Health whether, in view of the different interpretation which local authorities will place on the term "market value" in Clause 20 of the Housing Act he will indicate the principles and methods of valuation to be followed; and whether he will instruct local authorities to have regard to the purchase prices of new houses in their several localities when arriving at the market value of houses in respect of which loans are applied for?
§ Lord E. PERCYMy right hon. Friend does not think any difficulty will arise as regards the method of valuation for the purpose of Clause 22 of the Housing Bill, and he does not propose to issue any special instructions. The valuers appointed by the local authorities will value as for an ordinary mortgage, having regard to the local circumstances and the period of the proposed loan.