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Housing: Low Incomes

Volume 462: debated on Wednesday 11 July 2007

To ask the Secretary of State for Communities and Local Government what proportion of affordable home completions in each of the last five years for which records are available were sold for (a) less than (i) £40,000, (ii) £50,000, (iii) £60,000, (iv) £70,000, (v) £80,000, (vi) £90,000, (vii) £100,000, (viii) £110,000, (ix) £120,000 and (b) more than £120,000; and what the figures were in each year in each case for the South West. (148252)

Information on affordable dwelling sales is not available centrally in the format requested. However, information recorded by registered social landlords on the proportion of all their affordable dwellings sold at a discounted sale price and the sale of equity shares of shared ownership dwellings and open market properties with the help of an equity loan to improve affordability is given for England in the following table 1 and for South West in table 2.

The information in the tables reflects the fact that the majority of shared equity purchasers are buying in London and the South East. However, the number of shared ownership and equity loans completions per annum in the South West has nearly doubled over the last five years.

Table 1: Proportion of RSL dwellings sold in England by year and sale price1

Percentage

2002-03

2003-04

2004-05

2005-06

2006-072

<£40,000

52

48

42

26

22

£40,000 to £49,999

9

6

6

5

5

£50,000 to £59,999

8

7

7

7

10

£60,000 to £69,999

7

7

8

10

14

£70,000 to £79,999

6

6

7

10

12

£80,000 to £89,999

5

5

6

9

10

£90,000 to £89,999

3

6

6

8

7

£100,000 to £109,999

3

4

4

6

4

£110,000 to £119,999

1

4

3

4

4

>=£120,000

2

6

8

11

7

Unknown price

4

1

1

2

6

1 Discounted sale price for complete dwelling sales and equity share for shared ownership dwelling and equity loan sales.

2 Provisional

Source:

Housing Corporation CORE Sales returns

Table 2: Proportion of RSL dwellings sold in South West by year and sale price1

2002-03

2003-04

2004-05

2005-06

2006-072

<£40,000

48

26

19

9

6

£40,000 to £49,999

16

12

8

6

7

£50,000 to £59,999

12

18

13

14

17

£60,000 to £69,999

8

16

17

19

21

£70,000 to £79,999

5

10

12

17

19

£80,000 to £89,999

3

7

10

12

11

£90,000 to £89,999

2

5

8

8

9

£100,000 to £109,999

1

3

6

5

3

£110,000 to £119,999

0

2

3

3

2

>=£120,000

0

2

4

4

3

Unknown price

4

1

0

2

2

1 Discounted sale price for complete dwelling sales and equity share for shared ownership dwelling and equity loan sales.

2 Provisional

Source:

Housing Corporation CORE Sales returns

To ask the Secretary of State for Communities and Local Government whether the definition of affordable housing takes account of (a) average local wages, (b) geographical location and (c) whether the house is to be (i) bought outright, (ii) bought with shared equity and (iii) rented. (148445)

[holding answer 9 July 2007]: Annex B to “Planning Policy Statement 3: Housing” defines affordable housing as housing sold or rented at below market rates, to eligible groups, where there is provision for the home to remain at an affordable price for future eligible households. The definition includes that affordable housing

“should meet the needs of eligible households, including availability at a cost low enough for them to afford, determined with regard to local incomes and local house prices”.

The definition comprises social rented housing and intermediate housing (shared equity products, other low cost homes for sale and intermediate rent).