XN000022-1978-06-26 — Page 2

MONDAY, JUNE 26, 1978

HOUSING BOOM WILL EASE FLATS PRICES

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PEOPLE WISHING TO BUY THEIR OWN HOMES, PARTICULARLY SMALL FLATS, WILL SOON FIND IT EASIER TO DO SO, A GOVERNMENT SPOKESMAN SAID TODAY.

THE SPOKESMAN SAID: +THERE IS A VERY LARGE BUILDING PROGRAMME GOING ON AT PRESENT IN BOTH THE PRIVATE AND PUBLIC SECTORS WHICH WILL GO A GREAT DEAL OF THE WAY TO REDUCING CURRENT SHORTAGES.+

HE SAID NEARLY 110,000 RESIDENTIAL FLATS WILL BE COMPLETED DURING 1978 AND 1979, OVER 60,000 OF WHICH WILL BE IN THE PRIVATE SECTOR.

+THE NUMBER OF FLATS COMPLETED IN 1978 WILL BE THE HIGHEST EVER RECORDED, EVEN EXCEEDING THE NUMBER ACHIEVED DURING THE BOOM YEAR OF 1973,+ HE POINTED OUT.

+AND THE TOTAL TO BE COMPLETED IN 1979 WOULD BE EVEN HIGHER AT 59,300. AVERAGE YEARLY PRODUCTION OF HOUSING UNITS OVER THE FIVE YEARS 1973 TO 1977 HAD BEEN ONLY 32,000, HE SAID.

THE SPOKESMAN ADDED THAT SPECULATORS CAN THRIVE ONLY WHEN PROPERTY IS IN SHORT SUPPLY. HE SAID THAT HOME BUYERS SHOULD BE AWARE THAT THE BUILDING PROGRAMME WILL SOON EASE THE SHORTAGE AND THAT THIS WOULD MEAN AN END TO RAPIDLY INCREASING PRICES.

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