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Tuesday, 18 April 1961


Mr STEWART (LANG, NEW SOUTH WALES) - 1 direct a question to the Treasurer. By way of explanation, I wish to inform him that the cost of constructing a brick home of ten squares, including the cost of land, is approximately £5,000. The cost in fibro or in timber would be slightly lower, [s the Treasurer aware that the maximum loan advanced by the Commonwealth Bank for housing purposes is £2,500, which means in effect that any young couple contemplating building or purchasing a new home needs to have in hand an amount of approximately £2,500, a virtual impossibility for many young couples? In view of the grave disparity between the amount of loan available and the cost of a house, will the right honorable gentleman confer with officers of the Commonwealth Bank with a view to having the maximum loan for housing substantially increased?







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