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Wednesday, 24 May 1972
Page: 1951

Senator GAIR (QUEENSLAND) - Has the Minister representing the Minister for Housing read an advertisement in today's edition of the Canberra Times', inserted by an investment club in Sydney, which offers investors a 20 per cent per annum capital gain on an investment in fully serviced building blocks in Brisbane? Will the Minister undertake to confer with the Minister for Housing with a view to investigating these so-called investment clubs so as to determine whether their activities are forcing young couples in Brisbane to pay for building blocks higher prices than they would normally pay?

Senator WRIGHT - I have not seen the advertisement referred to, although in recent days I have seen several advertisments to a like effect. They were not to the same effect or related to the same locality. I think the honourable senator's suggestion is a very meritorious one and I shall have pleasure in submitting it to the Minister for Housing to see whether the bona fides of these publicly advertised proposals can be supervised and probed in any way.

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