§ Mr. Gordon PrenticeTo ask the Secretary of State for the Environment what estimate he has made of the total value of negative equity in homes in(a) England and (b) the north-west in each year since 1992 at current prices. [10871]
§ Mr. ClappisonEstimates of negative equity are sensitive to the underlying assumptions made, such as changes in house prices. Using the Department's house price index, adjusted for the mix of different dwelling types, it is estimated that the total value of negative equity in homes in(a) England and (b) the north-west in each year since 1992 at current (1995) prices is as follows:
£ million 1992 1993 1994 (a) England 4,893 5,230 3,116 (b) North-West 2 29 5 Estimates for 1995 are not yet available.
These estimates provide only a very broad idea of the value of negative equity. The suitability of the assumptions used in compiling estimates of negative equity is currently under review.
§ Mrs. Bridget PrenticeTo ask the Secretary of State for the Environment how many households are currently in negative equity in each London borough. [10885]
§ Mr. ClappisonEstimates of negative equity are not available for individual London boroughs.