HOUSING LOANS
(N.Z. Press Association) WELLINGTON, Sept. 12. The Government has no intention of increasing State Advances Corporation loan limits to bridge the gap between current loans and contract prices which could increase as a result of the timber price rise. The Minister of Housing (Mr Rae) said in Parliament today, in reply to Mr W. A. Fraser (Lab., St Kilda), that to do so would encourage further increases. “At this particular time the cost structure can best be served by holding loan limits,” Mr Rae said, agreeing with a statement attributed to the timber merchants that it was quite likely the increased price of timber could raise the cost of an allwooden house of 1000 square feet by up to $l3O.
Mr Rae said the Government had recently approved increased advances in State Advances lending, which were adequate in the meantime.
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Press, Volume CVIII, Issue 31783, 13 September 1968, Page 26
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142HOUSING LOANS Press, Volume CVIII, Issue 31783, 13 September 1968, Page 26
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