Housing Loans And Cost Of Building

Chronicle (Levin), 19 July 1948, Page 2

Housing Loans And Cost Of Building

Press Association)

(Per

AUCKLAND, Julv Tliere liad been no reports. ot" ex-ser-vicemen declining to take up" loans granted to tlieui by the KehabiJitation Department for Iiouso building beeause of the disparity botwoen the cost oi' erecting a building and t.lic maxiinum loan of £1500, said the Minister of Reiiabilitatiou, Mr. Skiuuer. 11c agreed lliat tliere were thousands of men who, i having obtained eligibility certiiicates | for tlie granling of a loan, had nol. j taken it up. Many of- them had tem- j porary accouimodation and beeause of higli " costs and shortages, were prepared to wa.it bet'ore building. There was not enougli labour or materiaJs to build ali the liouses required. With some rescrvations, the loan of | £1500 was,.he eonsidered, sufficient t-o t cover' ihe cost of building a reason- ( ably suitable house at the present-j timo, said Mr. Skinncr. In Auckland i and Wellingtou a man would neod to j own his own sectiou to keep witliin the figure. Costs varied Uitli locaiities and i to a considerablc degree by tlie desigh | of tlie bi'iilding. The Government''s pol- i icy was to buiid many reasonablc liomes j ratlier than a few Juxurious ones. For j the building of new liomes the Depart- , ment had granted 8778 loans totalling ! £12,525,930. This represented an average of £1420 each. There were 12,315 loans granted for the purchase oi' j houses aiready buiit. Tliey totalled : £12,347,110, an average of about £100i! eaeli.