BIRKENHEAD HOUSES.

Auckland Star, Volume LXVIII, Issue 100, 29 April 1937, Page 8

BIRKENHEAD HOUSES.

BOROUGH COUNCIL REPORTS.

WORKERS' DWELLINGS SCHEME

An interesting report was submitted to the Birkenhead Borough Council last night by Mr. W. H. Payne on behalf of the committee, which investigated the proposal to erect twenty-five houses in the borough, Jo be financed by loan from the State Advance* Corporation. The annual interest 5 was based at. 3 per cent, tfitk 2 per cent sinking fund. A tentative estimate, of the average . cofct of each house was. £1265, arrived at by allowing£lo7s for erecting house,. £100 for section, £40 for improvements to ■ection, and £50 for architect.

The. annual cost per house was estimated at £86 5/, being made up of £63 5/ for interest and sinking fund, £8 for. loss of rates, £3 for insurance, and £12 for depreciation and maintenance. On these figures, the minimum rent required would be £1 13/2 per week, which allowed no margin for rent losses. A loan of £31,625 for 25 houses* at £1265 would incur annual loan charges of £1581 5/, the rate for security of which would be 1 »-16 d in the £ on the unimproved value, although this would not necessarily- have to be collected. Evidence as" to the necessity for the houses was needed.

The council agreed to consider the housing proposal on completion of the housing survey. The town clerk was asked to obtain definite information as to whether the Government was to impose limitation of rents that the council might cliarge for the houses.