§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer (1) what percentage of freehold properties transferred in(a) 1989 and (b) 1990 were worth (i) under £20,000 and (ii) over £100,000 (1) nationally and (2) by region;
(2) if he will publish a table showing for sales by individuals of single dwellings the number and average value of transactions nationally and regionally in 1989 and 1990 by range of consideration as set out in "Inland Revenue Statistics 1990";
(3) if he will analyse the property transfers reported to the Inland Revenue in 1988, 1989 and 1990 so as to give for each year (a) the percentage of properties under £20,000 and their percentage share of the total value of properties, (b) the percentage share over £100,000 and their percentage share of values, (c) the median value and (d) the average values for all properties and for freehold properties.
§ Mr. MaudeThe tables provide the information requested on property transfers. All estimates are derived from a sample of property transactions in England and Wales which are reported to the Inland Revenue and cover all transactions which are classified as residential. The estimates exclude transactions in non-residential properties, but include a number of low-value transactions which cannot be regarded as ordinary house sales at market value: examples are transactions at nominal value to a connected person, disposal of part share of a house as a result of a divorce or separation, transfer of a half share on marriage, purchases of council houses under the right-to-buy scheme, purchases of tenanted property,
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Table 2A Sales of residential1 properties by individuals Numbers: thousands Average values: £ thousands Range of price (lower limits) 1989 £0 £10,000 £20,000 £30,000 £50,000 £100,000 £250,000 All prices Numbers Average Numbers Average Numbers Average Numbers Average Numbers Average Numbers Average Numbers Average Numbers Average North 5 3 11 16 18 25 21 39 12 64 1 122 2— 395 67 35 Yorkshire and Humberside 7 3 19 16 36 26 46 39 28 66 5 138 2— 370 142 40 East Midlands 4 3 4 15 14 26 27 40 22 66 3 146 2— 385 75 49 East Anglia 3 3 2 15 2 24 6 41 14 68 3 143 1 370 30 65 South East3 10 3 6 14 6 25 17 42 113 71 39 141 5 377 198 84 Greater London 10 2 3 14 4 24 5 39 72 74 29 138 5 403 127 91 South West 6 2 3 14 4 25 15 43 46 68 14 139 2 373 91 72 West Midlands 7 3 7 15 17 26 36 41 31 68 7 143 1 350 105 51 North West 10 4 26 16 39 26 55 40 36 65 6 138 1 346 173 41 England 61 3 81 15 139 25 229 40 376 70 108 140 14 382 1,008 60 Wales 5 3 5 15 14 26 21 40 12 66 3 135 2—_ 363 60 44 England and Wales 65 3 86 15 154 25 250 40 388 69 111 140 15 381 1,069 59 1 Includes freehold and leasehold properties. 2 Less than 500. 3 Excludes London. transactions involving an exchange of property and other miscellaneous transactions in property at residential addresses. Comparable figures for Scotland and Northern Ireland are not available.
Table 1: Freehold residential properties transferred in 1989 and 1990 Percentage of transactions where price was under £20,000 over £100,000 1989 North 30 2 Yorkshire and Humberside 28 4 East Midlands 17 6 East Anglia 12 12 South East (excluding London) 7 24 Greater London 7 31 South West 11 17 West Midlands 22 7 North West 26 5 England 17 13 Wales 28 5 England and Wales 18 12 1990 North 29 4 Yorkshire and Humberside 22 5 East Midlands 14 6 East Anglia 7 11 South East (excluding London) 5 21 Greater London 9 28 South West 10 13 West Midlands 20 6 North West 27 6 England 15 13 Wales 34 4 England and Wales 16 12 Source: Survey of Property Transactions 1989 and 1990.
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Table 2B Sales of residential1 properties by individuals Numbers: thousands Average values: £ thousands Range of price (lower limits) 1990 £0 £10,000 £20,000 £30,000 £50,000 £100,000 £250,000 All prices Numbers Average Numbers Average Numbers Average Numbers Average Numbers Average Numbers Average Numbers Average Numbers Average North 3 3 6 15 12 26 17 39 12 64 2 126 2— 351 53 41 Yorkshire and Humberside 6 3 5 16 15 26 41 40 23 65 4 138 2—_ 359 94 46 East Midlands 4 4 3 14 6 26 30 40 19 65 4 142 2—_ 399 66 50 East Anglia 2 3 1 12 2 25 13 42 15 67 3 133 2—_ 382 37 59 South East3 9 2 4 14 5 24 26 42 128 69 39 142 4 372 215 80 Greater London 9 2 3 14 2 25 6 41 68 73 28 143 4 414 120 90 South West 6 2 3 14 3 25 24 43 50 68 12 137 1 390 99 66 West Midlands 8 3 3 15 7 25 35 41 33 67 5 130 1 374 92 52 North West 8 3 11 15 18 26 52 39 33 65 6 138 2—_ 382 130 45 England 55 3 39 15 70 25 243 41 383 68 103 140 11 389 905 63 Wales 5 3 3 16 7 25 16 40 10 66 2 134 2—_ 375 43 43 England and Wales 60 3 42 15 78 25 259 40 393 68 105 140 11 388 948 62 1 Includes freehold and leasehold properties. 2 Less than 500. 3 Excludes London. Source: Survey of Property Transaction 1989 and 1990.
Table 3 Residential properties1 transferred in 1988, 1989 and 1990 1988 1989 1990 Freehold All residential Freehold All residential Freehold All residential (a) Percentage of properties under £20,000 17 19 18 20 16 17 Percentage share of value 3 3 3 4 2 3 (b) Percentage of properties over £100,000 12 10 12 11 12 11 Percentage share of value 33 31 37 34 34 32 (c) Median price £48,000 £47,000 £45,000 £43,000 £50,000 £49,000 (d) Average price £59,000 £57,000 £59,000 £56,000 £62,000 £59,000 Source: Survey of Property Transactions 1988, 1989 and 1990.
1 Includes sales by individuals and other purchasers.