Negative Equity: Greater London

Tom Brake
To ask the Chancellor of the Exchequer what estimate his Department has made of the number of people who have gone into negative equity in each London borough since 2000.

Angela Eagle
The Government have made no estimate of the number of people who have gone into negative equity in each London borough since 2000. Land Registry data show an average monthly increase in house prices since May 2000 in each London borough of between 0.7 per cent. and 1.0 per cent., reducing the probability that individuals in London boroughs will have experienced negative equity in that period.