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Housing: Prices

Volume 470: debated on Tuesday 8 January 2008

To ask the Secretary of State for Communities and Local Government (1) what the average price was of a property purchased by a first time buyer in England in (a) 1996-97 and (b) the latest period for which figures are available; (176185)

(2) what the average price was of a property purchased by a first time buyer in each local authority area in England in the most recent period for which figures are available.

Using data from the Regulated Mortgage Survey, the mix-adjusted average price of a property purchased by a first time buyer in 1997 for England was £58,391.

The mix-adjusted average price of a property purchased by a first time buyer for England in 2006, the last full-year for which data are available, was £155,089.

The mix-adjusted average price of a property purchased by a first time buyer in Q3 2007, the latest period available for England, was £173,134.