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Mr. Clappison
To ask the Secretary of State for the Environment what estimate he has made of the number of households where the value of the property is less than the amount of the mortgage.
Sir George Young
Based on changes in house prices measured by the Department's house price index, the number of owner occupiers with mortgages larger than the value of their properties in the first quarter of 1993 is estimated to be about 1 million, the same as in the previous quarter.