asked the Minister for Local Government: (i) if, in view of the high cost of houses, he will consider controlling house prices at a reasonable level, and (ii) if he will indicate whether he intends to sanction the application of Dublin County Council for permission to advance loans up to 90 per cent. of the market value of houses.
Ceisteanna—Questions. Oral Answers. - Control of House Prices.
As regards the first part of the question, I have at present no general power to control the prices at which new houses can be sold. There are only two points at which I am concerned. The first of these relates to local authorities who advance loans to persons who wish to build their own houses. Local authorities generally obtain an independent valuation of the market value of the house in respect of which the loan is sought and in many cases these valuations have been lower than the price asked for by the builder.
Generally, persons obtaining grants for new houses obtain the balance of their financial requirements from insurance companies, banks or local authorities, and in all these cases independent valuations are made of the value of the house.
As regards the second part of the question, the Dublin County Council were informed on the 4th instant that no objection will be raised to the council making advances, in exceptional cases, up to 90 per cent. of the market value of houses within the fringe area of the city.