§ Mr. Harry GreenwayTo ask the Secretary of State for the Environment how many houses or flats have been bought in each local authority area under the grant to housing associations announced in the autumn statement for the purchase of properties; how many of these properties in each area have been newly built; what has been the average price paid in each authority area for newly built properties; and if he will make a statement.
§ Mr. BaldryI have today deposited in the Library a table providing the information requested.
I am delighted that purchases have already been approved in over 90 per cent. of the local areas in England, which will take over 13,000 properties off the market. The proportion of purchases approved from builders and developers so far has been around 60 per cent., as these deals are typically the quickest to complete. Last week only a third of approvals were for such purchases, and the great majority of the remainder were for purchases from private individuals. The Housing Corporation estimate that housing associations will be able to buy some 17,000 properties in England by the end of March as a result of these measures, and another 3,500 purchases will be made possible through cash grants to tenants. Taken together with recent substantial falls in interest rates, this package should certainly have a very positive impact on the housing market.