asked the Minister for Local Government if he is aware that the recent increases in the cost of building houses which it was hoped would be covered by the Small Dwellings (Acquisition) Acts have resulted in a number of applicants for loans having to increase their deposits; and, if so, if he will amend the regulations or if necessary introduce proposals for legislation to amend the Acts so as to include houses costing up to £2,500.
Ceisteanna—Questions. Oral Answers. - Building Costs.
Mr. Byrne
I am aware that there have been some increases recently in the cost of building which may have the effect of increasing the amount which a borrower under the Small Dwellings Acquisition Acts would be required to make available out of his own resources.
At the same time I have had no representations from local housing authorities in favour of an increase in the existing maximum market value of £2,000 prescribed for these loans. If such representations are received they will have to be carefully considered not alone from the viewpoint of the borrower but also from that of avoiding any encouragement of inflationary tendencies in the cost of houses.
Mr. Byrne
The Minister is aware that without encouraging the tendency to increase the cost, it has already increased and, therefore, that those who have put in deposits for houses are now embarrassed by not being able to increase their deposits. It has taken place within the last few months; it is not a question of encouraging it as it is already there.
There might be a question of further encouragement.
Mr. Byrne
And meanwhile the unfortunate people who put down deposits are now required to put down another £100.
The matter will be considered by the corporation.