STATE ADVANCES CORPORATION
£15,656,752 LENT LAST YEAR (New Zealand Press Association) WELLINGTON, April 27. Home-building finance provided by the Government last year dwarfed all previous totals with a figure of £10,900,658, said the Minister of Housing (Mr W. Sullivan) today. With the inclusion of finance for the purchase of existing houses and suspensory loans, the State Advances Corporation lent £ 15.656,752. Corporation lending for the building of new houses since 1950 has been:
“The corporation financed the construction of 5462 new private houses in 1954-55, of them 3921 for civilians and 1541 for former servicemen,” said Mr Sullivan. That total was 1347 greater than the previous year, and’ in value it was almost £3,000,000 more, he said. Although the demand for housing finance from both Government and private sources had imposed a severe strain on resources, it was encouraging to see the tremendous growth of home ownership. “In its ratio of home-owners, New Zealand must surely now lead the world,” said the Minister.
Year. No. of Loans. Value. 1950 .. 2202 £3,023,417 1951 .. 4644 £7,765,232 1952 .. 3351 £6,140,674 1953 .. 3323 £6,245,438 1954 .. 4115 £8,046,025 1955 .. 5462 £10,900,658
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Press, Volume XCI, Issue 27644, 28 April 1955, Page 9
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185STATE ADVANCES CORPORATION Press, Volume XCI, Issue 27644, 28 April 1955, Page 9
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