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OWNING HOMES
State Housing Act
LIBERAL PROVISIONS /
TIhat thbe lHousing Act iutPod1CC4 and
pirasscd by th1a'vin N~aLtional Ciov\'c-metL
ut the cud oi last ycar has ,chinv?d poou
larity, and i. doing whaS wan'y intcuded
(says a bulltin issued bly cL Sta.te oa
tional party.v" is shown u an. oficia au
noulnccmcnt that already tho (sovcrnmnent
dirinegs Bausk of Ne S;Aouth WYales has
advanced £.,t00,OtUO to bqimescckqr. un
der the telma :of the .)ct. Despito thisl
emincntly satisfactory, result, it is very
pparent .that few poiple who are ambi
tios to haves a' hotooe of their own-to
own a house-are 3aiware ol the liberaJ
inancial asa.talnr. that is 'offered to
hem; fewer lkns/'¢ that this assistance is
anailable in thle rural as .wcll as metro
politan asid. ur';aiL districts. and to share
armers and "/irmariently cmployed- rural
-orkcrs. Biut such is the case.
.The Act, .'which is formally .known as
the CGovenmuunt Savings Bank" (Housing)
Xniendmc'' Act, is chiefly notable for
he pror?ion which enables the Savings
Bank ('rnmissioncrs to: (a) AdvauLnc
room At'cir own funds up to 00 per cent.
of that'"raluation of the land- andti the pro
losc'.-, dwelling, with a limitation of
£1'O0, instead of 7 per cont. and £730.
e-tlch previusly were aslthoriscd; a:n
!Al to mal;e use of tlh. Commonwealth
ousing lfund for advances iup to .l1SO0,
un 90. per :ent of the ?aluatlon. The tim=
her-workers' strike ihrpr,t'ented the Saviniu
Bank 'Comaniiss;oncrs ~ping ahead with the
bhusinc-s already in " their hands Iatil
dinue. but, in uormad conditions. it had
hcnu cstimaated that i'uring tlhe last fitan
'ial year the Commaissionersi would hlavr
peen able to lend ' £2,000.000 from their
own funds, in addition to '£600,000 which
the, might have 'accnired from the. Con
moonwealth fund.: When building opera
tions are in full..swing, and when/the ex
tension of the .-clheme to country dis
tricts is fully "undcrstood. the resources
of the Saavel;s 13hk and tle Common
wealth ]'und, will, unquestionably, be
drasvn upon. to tile utmost limits. It is
beliered thalt this is the first Act of the
kmild under'which advances may be made
to owners-of pastoral or agrlicultural laudsl
Sth rtion the ection on their. propertica of
dlwellings to be occupied by employees
na.d. slseir families, ur to share farmers and:
their ramilicas.
To :those who may think that an ad
nam:e' of 00 per cent. is not economically
ot~nil. the reply is that experience iu other
Stsauts, "here this standard was adopted,
satiified the Government. Parliament, nid.
the .Savings Bank Commnissioneiras thalt Iti
ni alneither extravagant nor unreason-1
ablPe.
/i'ha scheme is operated in three divi
sions. meeting all classes of buiniiess. and
pa..iculars of these, together with infor
4imn.a regarding" fees anil rcpayminlta.
;'al be obtained from any branch of the
srate Government Savings Pnnk. T.he al
Slncecs are repayable over 20 or 30 years,
"Ie interest chargeable is from 6 to 6,!
I.br cent.. and the teml'ls are so easy. tha'
lt. is very mucli cheaper to build, or to
.»uy. a home under this bchenme than to
rent one. This will be appnleiated by
those who now are paying rmenC when they
are told that the repayments of loans and
Sinterest my be made on a scale which
rourks (weeklyi) out at
Vor 20 year" -£750 loan. £?1/S/ week;
£1000 loan, l1/13!0; . lOo loan, J o/10/i;
£lSOO loan. £3/0o/9. I
For 30 years-£750 loan, £1/l/4 ,ee.lk;
l0 oan. 1 8// ; £ 13001 loan " "/ "7 "
The scheme combines a maximum of as
tistance with financial safetry, the aim be
ing to create the largest possible oumiberl
of home-o.wners in thi coinmunity .thereby
remnedyig .tlhe condition on which Newo
South Wales had a small perercentage thian
any other State in the Commonwealth.
The Act was trained only after exhaustivel
peraonal iquiary and general investi ation1
by 3Ir. J. ryan, SI.L.C. T"lolorary Mlini-|
tor. whose aerricca in this respect werle
hlandoomely aiclnowledgedl bv .ri. Bavinl
in tile Lesishlitive Assembly, when he ex
preased his "personal obligation and the
obligation of the Government to hitml for
the work hie hias done in connection with
this nmeasure." 1"rather. it is worthy ofi
note that Mir. J. F'. Coalee. a Laboiur
leader of the Legislative Council, whenL
sldakilng on thie second reading, eompal
mentced hr. Rynn on introducing a hill in
whichl he (Iri. Coitca) said there "'ia very
little to:criticise," and added. "I sinceriely
egret that that Lahour party cannot claim
to have introduced this bill."
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