§ Mr. GrayTo ask the Deputy Prime Minister what estimate he has made of the ratio of house price to average earnings, broken down by region. [118236]
§ Mr. McNultyThe latest estimates, for 2002, of the ratio of average house prices to average earnings are tabled as follows:
Region Ratio of average house price to average earnings, 2002
North East 3.72 North West 3.96 Yorkshire and The Humber 4.05 East Midlands 4.60 West Midlands 4.98 East 5.80 London 7.53 South East 6.61 South West 6.45 England 5.71 Sources:
1. Average earnings data are from the Office for National
Statistics and are based on place of residence (as opposed to place
of work). (New Earnings Survey, April 2002)
2. Average house prices are from the Land Registry (calendar
year 2002)