The following table shows the average equity value of properties purchased under Social HomeBuy schemes in England since 2006-07, when the Social HomeBuy scheme started.
Average value of equity (£) 2006-07 132,630 2007-08 143,740 2008-09 127,480 Source: Homes and Communities Agency (HCA) Investment Management System (IMS)
(2) what estimate he has made of the average monetary value of a domestic property in the social sector in each of the last five years.
The following table shows the average price of a property purchased under Social HomeBuy, Right to Acquire and Right to Buy in England, for each year since 1997-98.
Social HomeBuy Right to Acquire Local authority Right to Buy Registered social landlord Right to Buy 1997-98 — — 43,100 48,910 1998-99 — — 45,490 51,110 1999-2000 — — 48,950 53,050 2000-01 — — 51,090 52,510 2001-02 — 47,190 53,520 50,780 2002-03 — 54,600 58,660 59,370 2003-04 — 65,540 66,840 58,630 2004-05 — 71,920 77,180 64,210 2005-06 — 83,230 83,470 72,160 2006-07 157,010 87,110 92,770 81,960 2007-08 155,860 108,100 103,470 89,750 Source: PIB quarterly returns to CLG from local authorities, and Continuous Recording (CORE) returns from Registered Social Landlords to the Tenant Services Authority (TSA)
CLG does not collect information about average monetary values of social housing properties. The figures are for the average property price of social homes sold by social landlords under the Social HomeBuy, Right to Acquire and Right to Buy schemes in England.
These property price figures are based on the total property price, not the amount paid by the purchaser, who is entitled to a discount on the market value and may only be purchasing a share of the equity in the property.
The average property price is not shown for the Right to Acquire sales prior to 2001-02, due to a low number of sales in each year.
2008-09 figures are not yet available from CORE.
The following table shows the initial average percentage equity stake purchased by a buyer in each year since each scheme has been operational.
Product 2006-07 2007-08 2008-09 Social HomeBuy 85 89 84 Open Market HomeBuy 78 85 68 MyChoice HomeBuy n/a n/a 65 Own Home n/a n/a 65 First Time Buyers Initiative 53 53 56 Source: Homes and Communities Agency’s Information Management System.
The information requested is being collated and will be placed in the House Library shortly.