Written question asked by Karen Buck (Labour) on Thursday, 14 October 2004, in the House of Commons. It was due for an answer on Monday, 25 October 2004. It was answered by Keith Hill (Labour) on Monday, 25 October 2004 on behalf of the Office of the Deputy Prime Minister.

Office of the Deputy Prime Minister

Question: To ask the Deputy Prime Minister, what the average price of a house in England was in (a) 1980, (b) 1990 and (c) 2000; and if he will estimate (i) the current price of the same dwelling if its value had risen at the rate of the retail price index and (ii) the current price of the same dwelling if its valuation had risen at the same average level as house prices over that period. - Including figures and table.

Answer: Ms Buck: To ask the Deputy Prime Minister what the average price of a house in England was in (a) 1980, (b) 1990 and (c) 2000; and if he will estimate (i) the current price of the same dwelling if its value had risen at the rate of the retail price index and (ii) the current price of the same dwelling if its valuation had risen at the same average level as house prices over that period. [192030] Keith Hill: The average price of a house in England in (a) 1980, (b) 1990 and (c) 2000 was as shown in column A of the following table. (i) Had property prices since 1980/1990/2000 then risen in line with the Retail Prices Index (RPI), their current value (as of August 2004) would have been as set out in column B. (ii) If the average property in 1980/1990/2000 had risen in price by the same as the average rise in house prices then its current value (as of August 2004) would be the same as the average property in England in August 2004, namely £191,970. £ _________________________________________________________________________________________________. Average price of a property in England Notional current price of the 1980/1990/2000 property had house prices risen in line with the RPI Column A Column B 1980 23,957 67,165 1990 63,173 93,877 2000 114,335 125,823 _________________________________________________________________________________________________. Sources: Property prices: Survey of Mortgage Lenders, ODPM Retail Prices Index: Office for National Statistics

Secondary information