§ Mr. Terlezki
asked the Secretary of State for the Environment what percentage of the cost of a new house is accounted for by the true cost of the land; and whether he will consider ways of helping local authorities to release new land.
§ Mr. Macfarlane
Information on private sector housing land prices and the average price of new dwellings purchased with a building society mortgage is published quarterly by HMSO in Housing Construction Statistics. The information on land prices relates to the cost of private sector land at the time of sale. No information is available about the true cost of land.
I recently issued a revised draft circular on land for housing which contains draft advice to local planning authorities on the release of housing land.