Mortgages: Government Assistance

Communities and Local Government written question – answered on 11th June 2014.

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Photo of Andrew Stephenson Andrew Stephenson Conservative, Pendle

To ask the Secretary of State for Communities and Local Government what the average price has been for houses sold under (a) the Help to Buy: Mortgage Guarantee and (b) the Help to Buy: Equity Loan scheme in (i) the North West, (ii) Lancashire and (iii) Pendle.

Photo of Kris Hopkins Kris Hopkins The Parliamentary Under-Secretary of State for Communities and Local Government

The information is as follows:

(a) Data on the Help to Buy: Mortgage Guarantee scheme are published by the Treasury. Figures to 31 March 2014 are available at:

https://www.gov.uk/government/publications/help-to-buy-mortgage-guarantee-scheme-quarterly-statistics-october-2013-to-march-2014

(b) For the Help to Buy: Equity Loan scheme, figures for the average purchase price of properties are available at district council level, with the most recent official statistics relating to sales under the scheme to 30 April 2014.

(i) As outlined in the written ministerial statement of 18 September 2012, Hansard, column 32WS, my Department no longer publishes statistics by government office region.

(ii) The average figure for that period across the twelve district council areas of Lancashire is £176,888. The figure for Lancashire can be compared with a national average of £205,424, as published at

https://www.gov.uk/government/statistical-data-sets/help-to-buy-equity-loan-scheme-monthly-statistics

(iii) In Pendle, only one sale had been completed by 30 April 2014, and so quoting the average figure for that area would lead to disclosure of the purchase price of that property. This might be regarded as creating an unacceptably high risk of disclosing personal data and a statistical distortion.

Figures for the numbers of sales under the Help to Buy equity loan scheme as at 30 April 2014 broken down by local authority and postcode sector are available at

https://www.gov.uk/government/statistical-data-sets/help-to-buy-equity-loan-scheme-monthly-statistics

I have also placed a copy of the table in the Library of the House.

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