XN000022-1994-10-26 — Page 38

WEDNESDAY, OCTOBER 26, 1994

22

GOVT IS DETERMINED TO MEET HOUSING NEEDS

* * *

THE

GOVERNMENT

IS DETERMINED TO MEET THE HOUSING NEEDS AND ASPIRATION OF THE COMMUNITY AND TO SEEK TO MAINTAIN THE STABILITY OF THE PROPERTY MARKET.

THIS WAS STATED BY THE SECRETARY FOR PLANNING, ENVIRONMENT AND LANDS, MR TONY EASON, DURING THE POLICY ADDRESS DEBATE AT

THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

MR EASON SAID THERE HAD BEEN AN OBSERVABLE MODERATION IN PRICES AND A NOTICEABLE RETREAT IN SPECULATION SINCE THE GOVERNMENT'S PACKAGE OF MEASURES TO INCREASE HOUSING SUPPLY AND DAMPEN

WAS

INTRODUCED EARLIER THIS YEAR.

SPECULATION

THE

HOWEVER, HE SAID, THE GOVERNMENT WOULD CONTINUE TO MONITOR RESIDENTIAL PROPERTY MARKET CLOSELY AND, IF NECESSARY, INTRODUCE FURTHER MEASURES TO ENSURE THAT IT DID NOT HEAD SKYWARD AGAIN.

MR BASON SAID THE GOVERNMENT REMAINED OF THE VIEW THAT THE MOST EFFECTIVE WAY OF STABILISING PROPERTY PRICES WAS TO INCREASE THE SUPPLY OF FLATS TO MATCH DEMAND MORE CLOSELY, AND THIS WOULD BE THE GOVERNMENT'S PRIORITY MEASURE.

"BEFORE APRIL 2001, WE WILL HELP THE PRIVATE SECTOR TO PRODUCE 195,000 FLATS BY ACCELERATING THE FORMATION OF SITES AND THE DEVELOPMENT OF INFRASTRUCTURE.

"WE

WILL HELP AN ADDITIONAL 180,000 FAMILIES TO BUY THEIR OWN HOMES BY PROVIDING SUBSIDISED HOUSING OR FINANCIAL ASSISTANCE, AND PRODUCE AT LEAST 310,000 NEW FLATS IN THE PUBLIC SECTOR.

MR EASON SAID THESE PROGRAMMES WOULD GO A LONG WAY TOWARDS PROVIDING MORE FAMILIES WITH ACCESS TO DECENT AND AFFORDABLE HOUSING.

ADDRESSING SOME MEMBERS' CONCERN ABOUT LAND SUPPLY FOR PUBLIC HOUSING, MR EASON STRESSED THAT THE GOVERNMENT'S POLICY WAS TO SUPPLY ENOUGH LAND TO MEET THE HOUSING NEEDS OF THE COMMUNITY.

"WE HAVE PROVIDED SUFFICIENT LAND TO THE HOUSING AUTHORITY AND THE HOUSING SOCIETY TO BUILD 430,000 PUBLIC HOUSING FLATS BETWEEN 1991 AND 2001.

"IN 1994/95 ALONE, WE WILL DISPOSE OF EIGHT HECTARES FOR PUBLIC RENTAL HOUSING AND 28 HECTARES FOR SUBSIDISED HOME OWNERSHIP HOUSING.

TOP OF THIS, WE ARE PROPOSING TO DISPOSE OF AN ADDITIONAL

EIGHT HECTARES FOR PUBLIC HOUSING THIS YEAR.

HE SAID THE GOVERNMENT REALISED THERE REMAINED A STRONG FOR PUBLIC HOUSING AND THE GOVERNMENT WOULD DO ALL IT CAN TO LAND SUPPLY TO MATCH DEMAND.

DEMAND

INCREASE

/ON ENVIRONMENT