asked the Minister for Local Government whether he is aware that Section 19 of the Housing (Amendment) Act, 1956, is a contributory cause to the present chaos in the building trade by reason of the fact that, since the percentage loan has now to be calculated by reference to the market value less the State and/or local authority grants instead of on the full market value as hitherto, applicants who formerly contracted to make deposits under the old terms are now required to find more than three times the original deposit; and whether he will introduce amending legislation to relieve this hardship.
Ceisteanna—Questions. Oral Answers. - Housing Deposits.
I have indicated in reply to previous questions on this matter that the difficulties represented arise from the fact that the selling prices of some houses in the Dublin area exceed substantially the market values of the houses as determined by the local authorities concerned in accordance with statute. I do not see any reason why selling prices should exceed market values as so determined.