HC Deb 31 March 1993 vol 222 cc232-3W
Mr. Milburn

To ask the Chancellor of the Exchequer if he will estimate the number of households with negative equity in each region in each year since 1987.

Mr. Nelson

[holding answer 9 March 1993]: There is considerable variation in estimates of the number of households with negative equity, reflecting the uncertainties involved in such calculations. I refer the hon. Member to the answer given on 23 February to my hon. Friend the member for Hazel Grove (Sir Tom Arnold) by the Minister for Housing and Planning at column 522. The following table provides figures for the north and south calculated on the same basis, which excludes those who have increased their indebtedness since buying their house, and those who have since sold or had their house repossessed; it is based on the DOE house price index. It would not be possible to produce a more detailed regional breakdown without disproportionate cost.