asked the Minister for the Environment the percentage average increase in housing prices from July 1977 to the latest date for which figures are available.
Ceisteanna—Questions. - House Prices.
12.
In the 18-period from 1 July 1977 to 31 December 1978—the latest date for which figures are available—the percentage increases in the prices of houses for which loans were approved by the main lending agencies were 37.8 per cent for new houses and 31 per cent for previously occupied houses. While the houses concerned are not necessarily comparable, the average quarterly increase in new house prices in this period was 6.3 per cent compared with 6.6 per cent during the period April 1973 to June 1977.
Does the Minister intend to take action to control the price of local authority type housing——
That is a separate question.
——so as to avoid an increase of 38 per cent over a one-and-a-half-year period? Is the Minister aware that people are not in a position to raise mortgages to meet these high prices?
(Interruptions.)
The question the Deputy has just asked does not relate to this matter.
If I am permitted to ask the question, surely the Minister of State should be permitted to answer?
Does the Minister know anything about the ingredients of the price rises?
As a matter of fact, the rate of increase is dropping rapidly.
What are the ingredients of the price rise? What is it composed of?
Better quality housing.
(Interruptions.)
(Cavan-Monaghan): Arising out of the Minister's reply that the increases are dropping back, would the Minister tell us on what he based that and would he particularly tell us the percentage increase in the house building cost index for the month of January of this year over the previous month?
I think the Minister of State will soon make it to the Front Bench with that last answer—"Better quality housing".
(Interruptions.)
I have not got the figure for January. For the quarter ended 31 March 1978, there was an increase of 11.7 per cent.
In the cost of housing?
Yes. For the quarter ended 30 June 1978 the rate of increase had dropped to 8.4 per cent and for the quarter ended 30 September 1978 the rate of increase had dropped to 3.4 per cent.
Is the Minister aware that these are house price increases and not house cost increases?
(Cavan-Monaghan): I note that the Minister stopped at September last. Is the Minister aware that for October, November, December and January there has been a steady increase and that the increase for January was double that of the previous month? The Minister has official figures——
That is a speech.
(Cavan-Monaghan): It is not a speech, Sir.
It sounds very like one.
(Cavan-Monaghan): It may sound like a good speech. Sir, but it is getting home a point. That is what a speech is all about and in that regard it may resemble a speech.
It is out of order.
(Interruptions.)
The average increase in house prices in the period from July 1977 to December 1978 as published in the Quarterly Bulletin is 6.3 per cent as compared with 6.6 per cent for the period April 1973 to June 1977.
(Cavan-Monaghan): Will the Minister deal with the period from October last until the third month of this year?
The Government have failed to stop the rise in house prices.
Is the Minister aware that the Fianna Fáil manifesto said that house prices would be reduced and that it would be cheaper to purchase and to maintain a house? May I ask the Minister if he was aware of that? Would he agree that that point in the manifesto has not been upheld?
(Interruptions.)