asked the Minister for Local Government if he is aware of the sharp increase in the price of houses; and if he has any plans to meet this contingency by increasing the amount of grant for house purchase or by raising the income limit for local authority loans.
Ceisteanna—Questions. Oral Answers. - House Prices.
16.
I am aware that the average gross prices of new houses for which loans were approved by the principal lending agencies increased by about six per cent from the first to the third quarter of the current financial year.
In so far as loans from local authorities for house purchase are concerned, I increased the maximum loan from £2,500 and £2,700 to £2,700 and £3,000 respectively last June. The income limits to which the Deputy refers apply only to loans financed by a local authority from the Local Loans Fund. Grant and loan schemes generally are kept under constant review and changes are made from time to time in the light of the many factors affecting them.
Has the Minister any intention of intervening in the situation in which houses for private purposes are showing a very steep increase in price? Has he any plan to meet the situation?
The Deputy asked me if I had any plans to increase the amount of grants for house purchase or for raising the income limit for local authority loans and I have dealt with that. I have said that the maximum loans were increased from last June and that the grant and loan schemes are being kept under constant review.