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Written question asked by Grant Shapps (Conservative) on Thursday, 25 March 2010, in the House of Commons. It was due for an answer on Monday, 29 March 2010. It was answered by Lord Wills (Labour) on Tuesday, 30 March 2010 on behalf of the Ministry of Justice.

Property: Sales

Question
To ask the Secretary of State for Justice how many homes have been purchased for more than (a) £500,000 and (b) £1 million in each year since 1997.
Answer

Land Registry is able to provide information based on the total number of residential properties sold at full value¹ in England and Wales from 1997 to 2009, as follows:"¹ Full value = residential property transactions where the full price has been paid. The figures exclude a number of transactions including right to buy sales at a discount, properties sold by way of a gift and properties sold under a compulsory purchase or court order."

Over £500,000 Over £1 million
1997 3,392 518
1998 4,119 682
1999 6,863 1,117
2000 9,815 1,797
2001 12,588 2,204
2002 18,359 2,935
2003 19,669 2,823
2004 27,079 3,963
2005 26,981 3,818
2006 42,451 6,333
2007 52,273 8,531
2008 27,356 5,008
2009 25,450 4,535

The numbers in the over £1 million column are also part of the total in the over £500,000 column.

Secondary information

Type
Written question
Reference
508 c1100W; 325231
Session
2009-10
Subjects
Housing Property Prices Sales
Contains statistics
Yes
Link
View this Written question on www.publications.parliament.uk