WEDNESDAY, APRIL 8, 1987
CHANGE REQUIRED TO MEET RISING HOUSING DEMAND
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A LONG-TERM HOUSING STRATEGY REVIEW HAS IDENTIFIED A NEED FOR A MODEST CHANGE IN DIRECTION IN ORDER TO PROVIDE MORE THAN A MILLION NEW FLATS BY 2001 TO MEET RISING HOUSING DEMAND FROM THE PEOPLE, THE CHIEF SECRETARY, THE HON DAVID FORD, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
TABLING A POLICY STATEMENT ON LONG-TERM HOUSING STRATEGY HE SAID THE PRESENT OVERALL HOUSING PRODUCTION AT 70 000 FLATS A YEAR WAS UNLIKELY TO BE ACHIEVED IF PRESENT POLICIES REMAINED UNCHANGED.
MOREOVER ALTHOUGH RENTAL NEEDS WOULD BE MET, MR FORD SAID THERE WOULD STILL BE AN OUTSTANDING DEMAND FROM AN ESTIMATED 100 000 FAMILIES WHO WISHED TO PURCHASE THEIR OWN HOMES.
+MUCH OF THE INCREASING DEMAND FOR HOME PURCHASE COMES FROM EXISTING AND PROSPECTIVE PUBLIC RENTAL HOUSING TENANTS AND FROM THOSE AFFECTED BY RE-DEVELOPMENT.
+MANY OF THESE COULD AFFORD TO PURCHASE THEIR OWN HOMES BUT SUCCESSIVE OVER-SUBSCRIPTIONS FOR HOS AND PSPS FLATS HAVE PREVENTED THEM FROM DOING SO.
+THE PREFERENCE OF PROSPECTIVE PUBLIC RENTAL HOUSING TENANTS AND FAMILIES IN ESTATES TO BE RE-DEVELOPED WILL BE GAUGED, AND FROM WITHIN THE PUBLIC HOUSING QUOTA A SUFFICIENT BALANCE OF HOME OWNERSHIP AND RENTAL FLATS WILL BE BUILT TO MEET THE DEMAND FOR EACH.
+ IN THIS WAY THE NUMBER OF PEOPLE REHOUSED WILL NOT BE REDUCED AND THE CHANCE OF SUCCESS OF APPLICANTS UNDER PRESENT HOME OWNERSHIP SCHEMES WILL BE IMPROVED.
MR FORD ALSO SAID THE GOVERNMENT WOULD INTRODUCE A HOME PURCHASE LOAN SCHEME, OFFERING ELIGIBLE APPLICANTS THE OPTION OF AN INTEREST-FREE DOWN PAYMENT LOAN TO HELP THEM BUY A NEW FLAT IN THE PRIVATE SECTOR.
+IT WILL COMPLEMENT THE EXISTING ASSISTED HOME PURCHASE SCHEMES AND WILL INCREASE THE OPTIONS OPEN TO THOSE WISHING TO PURCHASE THEIR OWN HOMES.
+BY STIMULATING RE-DEVELOPMENT OF OLDER AND UNDER-DEVELOPED PRIVATE SITES, IT SHOULD INCREASE THE CHOICE OF LOCATION FOR PROSPECTIVE PURCHASERS.
MR FORD ADDED THESE INCREASE OPPORTUNITIES FOR HOME PURCHASE SHOULD INCREASE THE UPWARD MOBILITY OF SITTING TENANTS AND IN SO DOING RELEASE RENTAL FLATS FOR THE MORE NEEDY AND INCREASE THE SPEED AT WHICH THEY COULD BE REHOUSED.
/HE SAID