HOUSING SCHEME

Waikato Times, Volume 124, Issue 20786, 22 April 1939, Page 7

HOUSING SCHEME

THE NEW ZEALAND METHOD CRITICISED BY -CONTRACTOR iUnited Press Assn.—Elec. Tel. Copyright) SYDNEY, April 21 A retired Capetown contractor, Mr E. J. Nason, who arrived to-day I’rom a visit to New Zealand, speke unfavourably of the New Zealand Government's housing scheme. Mr Nason said the housing scheras could not be compared with simila’* work being carried out in South Africa, where costs were not nearly so high. He added that three or fourroomed houses in New Zealand cost from £BOO to £I2OO, but could be built in South Africa for about half the price. They would also be of brick, not wood. BUILDING SOCIETIES LEGISLATION IN BRITAIN SHORTCOMINGS OF LAW iUnited Press Assn.—Elec. Tel. Copyright, LONDON, April 21 The second reading of the Government's Building Societies Bill was moved in tlie House of Commons by the Chancellor of the Exchequer, Sir John Simon. He mentioned that the share capital of the Building Societies in the United Kingdom amounted to about £ssu,oou,uuu and deposits to another £150,000,000. These funds were lent on house property on mortgage. At the end of 1937 the Building Societies’ assets stood at £710,000,00u. Explaining that the last important legislation on Building Societies was passed in 1894, Sir John described the principal objects of tlie new measure.

These all related to shortcomings which had been found to exist In the present law. The new proposals were necessary to safeguard the position of purchasers of houses as well as the societies and builders—the other parties involved.