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Housing: Sales

Volume 492: debated on Thursday 14 May 2009

To ask the Secretary of State for Justice what the average price was of a property sold in each year since 1995, expressed in 2009 prices. (274876)

The information requested is shown in the following table.

£

Annual average price

Annual average price at Q1 2009 prices

1995

68,079

96,297

1996

71,519

98,777

1997

78,226

104,749

1998

84,669

109,617

1999

94,846

120,938

2000

108,164

133,950

2001

119,275

145,153

2002

138,200

165,417

2003

156,154

181,649

2004

178,542

201,685

2005

189,580

208,241

2006

203,708

216,870

2007

219,408

223,975

2008

216,884

212,946

Note:

The third column of the table shows the average price of properties sold in each year, adjusted to Q1 (January-March) 2009 prices using the all-item non-seasonally adjusted retail prices index (RPI). The RPI has been used because it includes price changes to housing-related items such as mortgage interest payments, depreciation, council tax, dwelling insurance and ground rent, which are not included in the consumer prices index.