§ Mrs. Bridget PrenticeTo ask the Secretary of State for the Environment how many households in each region are currently in negative equity. [12568]
§ Mr. ClappisonEstimates of negative equity are sensitive to underlying assumptions made, such as changes in house prices. Using the Department's house price index, adjusted for the mix of different dwelling840W types, it is estimated that the total number of households in negative equity in each English region in the third quarter of 1995 was as follows:
Region Number of households South east 383,000 Greater London 180,000 South west 112,000 East Anglia 50,000 East Midlands 40,000 West Midlands 89,000 Yorkshire and Humberside 47,000 North west 52,000 North 24,000 These estimates provide only a very broad indication of the number of households in negative equity. The suitability of the assumptions used in compiling estimates of negative equity is currently under review.