LOANS BY S.A.C.
Urban Fall, Rural Rise
<N.Z. Pr«zz AuoetaHan) WELLINGTON, July 12. Loans from the State Advances Corporation to urban home-builders de«Hned last year compared with the previous year, while rural loans reached a new record level of $44 million.
The report of the corporation, tabled in Parliament today, showed that urban loans fell from $57.6 million in 196546 to $55 million in the year ended March 31.
More than 71 per cent of these loans were for the building of new houses and 244) per cent were for the purchase of existing houses. The balance was loaned for “other purposes.” Rural loans of $44.2 million increased from $4O million in the previous year. This amount vras almost evenly divided between dairy and sheep farms. Nearly 85 per cent of the building sections on which houses financed by corporation loans were built cost less than $2OOO. Of these, 66 per cent cost less than $l6OO.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19670714.2.174
Bibliographic details
Press, Volume CVII, Issue 31421, 14 July 1967, Page 13
Word Count
156LOANS BY S.A.C. Press, Volume CVII, Issue 31421, 14 July 1967, Page 13
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in