MIRAMAR HOUSES

Dominion, Volume 14, Issue 253, 20 July 1921, Page 4

MIRAMAR HOUSES

STATUTORY MAXIMUM OF COST LIKELY TO BE EXCEEDED EXPLANATION OF HIGH RENTS The Housing Department has now completed 66 houses at Miramar, and has 57 additional houses there in course of erection. Many of the latter are nearly completed. The dwellings are built in concrete, and though the actual cost of each cannot be ascertained until the whole contract is completed, an estimate puts the amount at J2llOO. The rent of tho occupied houses at present is in the vicinity of 335. a week. A departmental explanation of the high rent charged was given to a rejwrtcr who made inquiries on the subject yesterday. The Department, it was stated, could not; sell the houses to the applicants while it did not know what the cost was going io work out at. It was probable, however, that the present statutory maximum of .tIIHK) would be exceeded. In the meantime it had been decided to allow applicants for houses to enter into possession at a weekly rental, such rental being fixed sufficiently high to cover the usual charges, such ns maintenance, depreciation, rates, and insurance. It was probable that next session Parliament would bo nsked to Increase the present maximum cost. Many applicants were quite prepared to pay in cash tho amount in excess of the maximum, but as the Department was anxious to give preference to applicants who had families, and who could not pay a large deposit, it had decided upon the present course of letting the dwellings. If the maximum was increased, applicants to purchase would still pay the low deposit of .£lO. It was admitted that the present rental •was high, but it was stated that when the amount of the weekly instalment was finally fixed, tenants who agreed to purchase would be credited with the amounts now being paid in excess of the instalment. It was calculated that the instalment when finally fixed would be 265. per -week nt the outside. That amount would include principal, interest, and. insurance, and the whole amount would bo paid off in 36 years.