§ Mr. A. Lewisasked the Minister of Housing and Local Government and Minister for Welsh Affairs if he will publish in Hansard the cost of a local authority three-bedroom house in October, 1951, and the cost then of repaying the whole of such cost, as a loan spread over 60 years at the then interest rates, and similar details for October, 1963, for a house of the same type and size.
§ Mr. CorfieldThe average cost of a local authority two-storey, three-bedroomed house was £1,279 in October, 1951, and £2,133 in October, 1963. Taking the rates of interest payable on loans from the Public Works Loan Board, the cost of repayment over 60 years would be £2,706 and £7,609, respectively.
Much house building by local authorities is, however, now financed by bor- 90W rowing on the open market for much shorter periods than 60 years and the figure of £7,609 is not in any way representative of the cost of building to local authorities.