Skip to main content

House Prices (Warley)

Volume 867: debated on Wednesday 16 January 1974

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Secretary of State for the Environment what is the average cost of a new house in the Warley area and the monthly repayment necessary to purchase it over 25 years on a 90 per cent. mortgage ; and what were the equivalent figures for June 1970.

The average price of new houses in the West Midlands region mortgaged with building societies was £6,269 in 1972 compared with £4,624 in 1970. Monthly repayments on a 90 per cent. mortgage for 25 years would have been £44·04 and £33·89 gross respectively, or net of relief of tax at the standard rate on earned income in the first year, £32·71 and £24·43. On the actual average advances for such houses the repayment figures over 25 years would have been £37·71 gross and £28·05 net in 1972 and £29·48 gross and £21·25 net in 1970.House price data are not available for areas smaller than economic planning regions ; and figures for 1973 have not yet been produced.