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Thursday, 11 June 1970

Mr BURY - I am not sure that 1 have seen this statement or a copy of it. But I have seen other statements by the same gentleman. I am aware that house building has fallen rather further and faster in Western Australia than in other States. It is true also that the building industry in Western Australia has been under such pressure and has been so active for so long that it has produced probably more houses per head relative to those seeking houses than any other State has produced. So, quite apart from any other factors, we would expect just for sheer physical reasons that some decline in demand and in construction would have occurred in Western Australia. But this reduction would not necessarily be connected with interest rates. This requirement in Western Australia, I would say, would be more likely due to the lesser funds which the permanent building societies have been able to collect in deposits-

Mr Webb - Caused by the high interest rates.

Mr BURY - The honourable member regards cause as rather simpler than the many factors that are at work in Western Australia. But there are factors in Western Australia which are conducive to some falloff, quite apart from any monetary factors which are now operating.

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