§ Mr. CousinsTo ask the Deputy Prime Minister what the average price for each property type in each region of the UK was in the last quarter of(a) 2002, (b) 2001 and (c) 1996 in (i) cash, (ii) real and (iii) percentage increase terms. [103422]
§ Mr. McNultyThe average prices by property type and by region are shown in the following tables. The figures for England and Wales are derived from Land Registry data, covering all transactions. Figures for Scotland and Northern Ireland are estimated on the basis of sample data from the Survey of Mortgage Lenders.
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Q4 1996—cash prices £ Detached bungalows Semi-detached Terraced Flats North East 85,460 48,335 34,793 32,456 North West 94,995 50,721 32,458 45,677 Yorks and Humber 88,439 48,611 35,085 41,199 East Midlands 79,333 43,996 33,460 32,964 West Midlands 94,683 51,040 38,692 38,307 East 101,653 60,625 49,907 39,982 London 208,157 105,553 94,967 84,026 South East 134,922 71,053 56,715 45,814 South West 94,610 57,255 46,899 45,267 Wales 74,505 46,011 37,164 41,224 Scotland 89,702 49,096 38,381 31,471 Northern Ireland 70,862 46,104 31,167 30,681
£ Cash prices Real (Q4 1996) prices Q4 2001 Detached bungalows Semi-detached Terraced Flats Detached bungalows Semi-detached Terraced Flats North East 120,931 63,641 46,818 53,867 107,154 56,391 41,485 47,730 North West 145,790 74,270 46,634 76,400 129,181 65,809 41,322 67,696 Yorks and Humber 127,203 67,729 49,263 75,777 112,711 60,013 43,651 67,144 East Midlands 132,270 70,603 55,562 66,188 117,201 62,559 49,232 58,647 West Midlands 165,451 83,250 64,041 73,460 146,502 73,766 56,745 65,091 East 194,194 120,352 98,347 80,787 172,070 106,641 87,143 71,583 London 411,805 223,100 203,044 176,701 364,891 197,683 179,913 156,571 South East 267,490 147,133 118,336 101,329 237,017 130,371 104,854 89,785 South West 185,883 110,239 93,480 86,703 164,706 97,680 82,831 76,825 Wales 115,617 65,416 49,865 67,672 102,446 57,963 44,184 59,962 Scotland 116,019 68,816 56,625 55,450 102,802 60,976 50,174 49,133 Northern Ireland 100,793 75,455 57,637 69,705 89,310 66,859 51,071 61,764
£ Cash prices Real (Q4 1996) prices Q4 2002 Detached bungalows Semi-detached Terraced Flats Detached bungalows Semi-detached Terraced Flats North East 149,636 77,622 55,978 65,249 129,315 67,081 48,376 56,388 North West 177,638 92,484 55,161 93,873 153,514 79,924 47,670 81,125 Yorks and Humber 160,334 84,611 59,602 91,029 138,560 73,120 51,508 78,667 East Midlands 167,758 91,826 72,057 82,659 144,976 79,356 62,271 71,434 West Midlands 202,082 103,271 79,951 85,100 174,639 89,247 69,094 73,543 East 236,113 149,217 123,974 107,290 204,048 128,953 107,138 92,719 London 500,987 269,859 242,687 208,609 432,951 233,211 209,729 180,280 South East 314,831 180,015 146,505 123,238 272,076 155,569 126,610 106,502 South West 234,369 141,089 119,168 114,839 202,541 121,929 102,985 99,244 Wales 140,670 79,082 60,419 78,220 121,567 68,343 52,214 67,597 Scotland 135,731 80,557 68,959 68,125 117,298 69,617 59,595 58,873 Northern Ireland 126,308 87,593 67,275 94,093 109,155 75,698 58,139 81,315
Q4 1996 to Q4 2002 Percentage change in cash prices Percentage change in real prices Detached bungalows Semi-detached Terraced Flats Detached bungalows Semi-detached Terraced Flats North East 75.1 60.6 60.9 101.0 51.3 38.8 39.0 73.7 North West 87.0 82.3 69.9 105.5 61.6 57.6 46.9 77.6 Yorks and Humber 81.3 74.1 69.9 120.9 56.7 50.4 46.8 90.9 East Midlands 111.5 108.7 115.4 150.8 82.7 80.4 86.1 116.7 West Midlands 113.4 102.3 106.6 122.2 84.4 74.9 78.6 92.0 East 132.3 146.1 148.4 168.3 100.7 112.7 114.7 131.9 London 140.7 155.7 155.5 148.3 108.0 120.9 120.8 114.6 South East 133.3 153.4 158.3 169.0 101.7 118.9 123.2 132.5 South West 147.7 146.4 154.1 153.7 114.1 113.0 119.6 119.2 Wales 88.8 71.9 62.6 89.7 63.2 48.5 40.5 64.0 Scotland 51.3 64.1 79.7 116.5 30.8 41.8 55.3 87.1 Northern Ireland 78.2 90.0 115.9 206.7 54.0 64.2 86.5 165.0
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Q4 2001 to Q4 2002 Percentage change in cash prices Percentage change in real prices Detached bungalows Semi-detached Terraced Flats Detached bungalows Semi-detached Terraced Flats North East 23.7 22.0 19.6 21.1 20.7 19.0 16.6 18.1 North West 21.8 24.5 18.3 22.9 18.8 21.4 15.4 19.8 Yorks and Humber 26.0 24.9 21.0 20.1 22.9 21.8 18.0 17.2 East Midlands 26.8 30.1 29.7 24.9 23.7 26.8 26.5 21.8 West Midlands 22.1 24.0 24.8 15.8 19.1 21.0 21.8 13.0 East 21.6 24.0 26.1 32.8 18.6 20.9 22.9 29.5 London 21.7 21.0 19.5 18.1 18.7 18.0 16.6 15.1 South East 17.7 22.3 23.8 21.6 14.8 19.3 20.7 18.6 South West 26.1 28.0 27.5 32.5 23.0 24.8 24.3 29.2 Wales 21.7 20.9 21.2 15.6 18.7 17.9 18.2 12.7 Scotland 17.0 17.1 21.8 22.9 14.1 14.2 18.8 19.8 Northern Ireland 25.3 16.1 16.7 35.0 22.2 13.2 13.8 31.7 Notes:
1. Changes in the Retail Prices Index (RPI) between Q4 1996, Q4 2001 and Q4 2002 were used to convert cash prices to real (Q4 1996) prices. The relevant RPI figures were Q4 1996: 154.0, Q4 2001: 173.8, Q4 2002: 178.2.
2. Transaction prices below £1,000 have been excluded from the figures—because they are deemed to be at below market values. One or two transactions above £20 million have also been excluded so as not to distort the average prices within each category.
3. Note that the average price of flats in Northern Ireland for Q4 1996 is based on the prices recorded not only in Q4 1996 but also in Q3 1996 and Q 11997. This is because the sample for Q4 1996 alone was too small.