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Housing: Low Incomes

Communities and Local Government written question – answered on 11th June 2009.

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Photo of Grant Shapps Grant Shapps Shadow Minister (Communities and Local Government) (Housing and Planning), Co-Chair, Conservative Party

To ask the Secretary of State for Communities and Local Government

(1) what the average sale price of a property purchased under the (a) Social HomeBuy, (b) Right to Acquire and (c) Right to Buy scheme was in each year since 1997;

(2) what estimate he has made of the average monetary value of a domestic property in the social sector in each of the last five years.

Photo of Ian Austin Ian Austin Minister of State (Regional Affairs) (West Midlands), The Parliamentary Under-Secretary of State for Communities and Local Government

The following table shows the average price of a property purchased under Social HomeBuy, Right to Acquire and Right to Buy in England, for each year since 1997-98.

£
Social HomeBuy Right to Acquire Local authority Right to Buy Registered social landlord Right to Buy
1997-98 43,100 48,910
1998-99 45,490 51,110
1999-2000 48,950 53,050
2000-01 51,090 52,510
2001-02 47,190 53,520 50,780
2002-03 54,600 58,660 59,370
2003-04 65,540 66,840 58,630
2004-05 71,920 77,180 64,210
2005-06 83,230 83,470 72,160
2006-07 157,010 87,110 92,770 81,960
2007-08 155,860 108,100 103,470 89,750
Source:

PIB quarterly returns to CLG from local authorities, and Continuous Recording (CORE) returns from Registered Social Landlords to the Tenant Services Authority (TSA)

CLG does not collect information about average monetary values of social housing properties. The figures are for the average property price of social homes sold by social landlords under the Social HomeBuy, Right to Acquire and Right to Buy schemes in England.

These property price figures are based on the total property price, not the amount paid by the purchaser, who is entitled to a discount on the market value and may only be purchasing a share of the equity in the property.

The average property price is not shown for the Right to Acquire sales prior to 2001-02, due to a low number of sales in each year.

2008-09 figures are not yet available from CORE.

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