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Office of the Deputy Prime Minister

Answer

Ms Oona King: To ask the Deputy Prime Minister what the average price was of a 50 per cent. stake in a (a) one-bed, (b) two-bed and (c) three-bed shared ownership property in (i) Tower Hamlets, (ii) the East London sub-region, (iii) London and (iv) England in the latest year for which figures are available. [181635] Keith Hill: The following table shows the average price of a 50 per cent. share in a shared ownership property, broken down by number of bedrooms, in Tower Hamlets, the East London sub-region, London and England in 2003-04. Shared ownership sales during 2003-04: average price paid for a 50 per cent. stake _________________________________________________________________________________________________. One bedroom Two bedrooms Three bedrooms Number of sales Average price Number of sales Average price Number of sales Average price paid (£) paid (£) paid (£) Tower Hamlets 7 69,107 5 91,500 2 123,750 East London sub-region 1 27 68,619 120 81,525 39 94,140 London 165 75,751 331 83,582 89 98,932 England 339 64,202 1,420 62,095 682 66,732 _________________________________________________________________________________________________. Notes: 1. Because the buyer took a 50 per cent. stake, the average price paid by the buyer represents one-half of the market price of the property. 2. The sales included in the above figures comprise 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 1 is an amalgamation of Barking and Dagenham, Havering, Hackney, Newham, Tower Hamlets, Redbridge, Waltham Forest. Source: Housing Corporation, CORE Sales.

Secondary information

Type

Written question

Reference

181635; 423 c458W

Session

2003-04

Subjects

Housing Greater London Prices Tower Hamlets Shared ownership schemes

Contains statistics

Yes

Link

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