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Office of the Deputy Prime Minister

Answer

Ms Oona King: To ask the Deputy Prime Minister what the average price of a 25 per cent. stake in a (a) one-bedroom, (b) two-bedroom and (c) three- bedroom shared ownership property in (i) Tower Hamlets, (ii) the East London sub-region, (iii) London and (iv) England was in the latest year for which figures are available; and what the average (A) rent and (B) service charge was on the 75 per cent. stake held by the registered social landlord in each instance. [194674] Keith Hill: The table shows the average price of a 25 per cent. stake, together with the average rent and service charges for the 75 per cent. stake held by the registered social landlord, broken down by the number of bedrooms, in Tower Hamlets, the East London sub- region, London and England in 2003-04. Shared ownership sales during 2003-04 _________________________________________________________________________________________________. Number of sales Average price of Monthly rent (£) Monthly service charges 25 per cent. (£) stake purchased (£) One bedroom Tower Hamlets 0 -- -- -- East London 8 35,844 283.72 48.32 London 77 47,151 281.15 71.18 England 121 38,268 241.72 68.34 Two bedrooms Tower Hamlets 1 68,750 179.43 0.00 East London 29 52,858 340.19 85.80 London 117 54,076 332.78 76.48 England 280 41,126 262.22 51.57 Three bedrooms Tower Hamlets 0 -- -- -- East London 17 58,632 400.40 54.62 London 35 55,957 355.02 40.94 England 117 41,603 272.41 25.99 _________________________________________________________________________________________________. Notes: 1. Because the buyer took a 25 per cent. stake the average price paid by the buyer represents one-quarter of the property. 2. The figures include the following schemes: Do-It-Yourself Shared Ownership, Shared Ownership for the Elderly, Leasehold Schemes for the Elderly, Ordinary Shared Ownership Schemes. 3. East London sub-region is an amalgamation of the London boroughs of: Barking and Dagenham, Hackney, Havering, Newham, Redbridge, Tower Hamlets, Waltham Forest. Source: Housing Corporation, CORE sales

Secondary information

Type

Written question

Reference

194674; 426 c69-70W

Session

2003-04

Subjects

Housing Greater London Prices Social rented housing Rents Service charges Tower Hamlets Shared ownership schemes

Contains statistics

Yes

Link

View this Written question on www.publications.parliament.uk