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Housing: Valuation

Volume 503: debated on Monday 11 January 2010

To ask the Secretary of State for Justice how many properties in England had a capital value of over £2 million according to records held by the Land Registry on the latest date for which information is available. (308732)

Land Registry does not hold records of the total number of properties (commercial and/or residential) in England with a current capital value of over £2 million.

However, Land Registry holds price paid data for the total number of registered residential properties which have been sold at full value during defined periods. This question has been answered using the data available, providing details of the total number of registered residential properties sold at full value of over £2 million for the latest available quarter and the total for the year 2009.

The figure for October to December 2009 is 251 and the total in the year January 2009 to December 2009, is 832. This last figure includes in its total one property that was sold twice during 2009.

Full value reflects registered residential property transactions where the full price has been paid. The figures exclude a number of transactions including Right to Buy sales at a discount, properties sold by way of a gift and properties sold under a Compulsory Purchase or Court Order. Not all property in England is registered.