§ Mr. Nicholas WintertonTo ask the Secretary of State for the Environment (1) what recent representations he has received from housing associations about the shared ownership value limits imposed by the Housing Corporation;
(2) what provision is made by the shared ownership value limits imposed by the Housing Corporation in order to take account of the variation of average property prices within large conurbations, rural areas, and compact market towns within the same region.
§ Mr. KeyRepresentations have recently been received from Templar Housing Society Ltd. and Manchester and District Housing Association Ltd. Value limits are normally pitched at a slightly higher level than the average prices being paid in the regions by first-time buyers, in order to allow for some variation of prices within regions. In addition, value limits may be exceeded by up to 10 per cent. in certain rural areas and in towns which are growth areas for employment. The Housing Corporation is currently considering revised cost control arrangements for shared ownership.