XN000022-1993-06-09 — Page 23

WEDNESDAY, JUNE 9, 1993

AS

WE ALSO NEED TO BE MINDFUL OF THE ABERRATIONS IN THE MARKET WHICH CAUSE DIFFICULTY FROM TIME TO TIME FOR THOSE WHO FALL OUTSIDE THE PUBLIC HOUSING NET. THE PROPOSED SANDWICH CLASS HOUSING SCHEME IS AN EXAMPLE OF AN INITIATIVE TO EXTEND THE PUBLIC HOUSING PROGRAMME QUICKLY AS POSSIBLE BY THE PROVISION OF ADDITIONAL RESOURCES. IMPLEMENTATION ARRANGEMENTS FOR THE SCHEME WERE APPROVED BY GOVERNOR IN COUNCIL YESTERDAY, MEMBERS OF THE HOUSING AND LANDS WORKS PANELS HAVING ALREADY BEEN CONSULTED ON MANY OF THE DETAILS.

THE

THE

AND

THE MAIN SCHEME, I. E. THE LONG-TERM SCHEME, WILL SEE THE HOUSING SOCIETY BUILDING ADDITIONAL FLATS FOR SALE TO THE SANDWICH CLASS AT AFFORDABLE PRICES. IN THE 1993-94 LAND DISPOSAL PROGRAMME, SIX SITES HAVE BEEN EARMARKED FOR THE PRODUCTION OF 5,000 UNITS. THIS ADDITIONAL SUPPLY WILL BE TAKEN INTO ACCOUNT IN ANY PROJECTION OF FUTURE PROVISION OF FLATS.

SOME HAVE RIGHTLY POINTED OUT THAT THE INTERIM SANDWICH CLASS HOUSING SCHEME WILL NOT INCREASE SUPPLY. THE LOW-INTEREST LOAN IS OFFERED MAINLY IN RECOGNITION OF THE FACT THAT ADDITIONAL FLATS CANNOT BE

BUILT OVERNIGHT BUT THAT THERE IS A NEED TO PROVIDE MORE IMMEDIATE RELIEF TO CLOSE THE AFFORDABILITY GAP FACED BY THE SANDWICH CLASS. BECAUSE OF THE POSSIBLE EFFECTS ON PROPERTY PRICES, WE PROPOSE то MAKE A MODEST START AND TO REVIEW THE SITUATION AFTER THE FIRST PHASE. (LEADER WRITERS PLEASE NOTE).

LAND SUPPLY

IT IS DIFFICULT THEREFORE TO ACCEPT THE VIEW THAT INSUFFICIENT LAND IS MADE AVAILABLE FOR HOUSING PRODUCTION. TO HELP PUT THE MATTER IN PERSPECTIVE, SOME MORE STATISTICS MAY BE USEFUL. IN THE 5 YEARS FROM 1987-88 TO 1991-92, ABOUT 165 HECTARES, OR AN AVERAGE OF ABOUT 33 HECTARES A YEAR, WERE GRANTED FOR RESIDENTIAL PURPOSES, PRIVATE AND PUBLIC. AN ADDITIONAL 274 HECTARES OF LAND WERE VESTED IN THE HOUSING AUTHORITY FOR THE PROVISION OF PUBLIC RENTAL HOUSING DURING THE SAME PERIOD, OR AN

AVERAGE OF NEARLY 55 HECTARES PER YEAR. THE TOTAL FOR

AMOUNT OF NEW LAND PROVIDED EACH YEAR WAS ON AVERAGE 88 HECTARES HOUSING, BOTH PRIVATE AND PUBLIC, DURING THE PERIOD.

LOOKING AHEAD,

THERE ARE NO INDICATIONS OF ANY SHORTFALL WHICH CANNOT BE NET EITHER. 1 REFERRED EARLIER TO OUR ANNUAL ASSESSMENT OF LAND REQUIREMENTS AND LAND SUPPLY OVER A 10-YEAR PERIOD. THIS GIVES US AN EXCELLENT BASIS ON WHICH TO PLAN A STEADY LAND SUPPLY. THE FORECASTS LAY OUT CLEAR INFORMATION ON FUTURE LAND PRODUCTION AND LAND RESERVATIONS AND ENABLE DEVELOPMENT PROGRAMMES TO BE ADJUSTED AND LAND TO BE REZONED TO MEET IDENTIFIED SHORTFALLS IN SUPPLY. ACCORDING TO THE LATEST FORECASTS, MORE THAN 235 HECTARES OF LAND

WILL BE MADE AVAILABLE FOR RESIDENTIAL PURPOSES IN THE NEXT FIVE YEARS, WITH 100 HECTARES FOR PUBLIC HOUSING.

OVER

/ANOTHER SIGNIFICANT