HC Deb 21 July 2004 vol 424 cc323-5W
Ms Oona King

To ask the Deputy Prime Minister what the total amount of capital receipts from shared owners staircasing up their equity share was in each year since 1997. [185258]

Keith Hill

The following table shows the total amount of capital receipts from shared owners staircasing up their equity share in each year since 1997.

Recycled capital grant fund (RCGF) shared ownership staircasing analysis
Number of units involved Amount (£ million)
1997–98 1,913 26.144
1998–99 2,043 28.287
1999–2000 3,321 52.223
2000–01 3,210 49.394
2001–02 3,603 58.828
2002–03 4,554 79.986
Total 18,644 294.862

Ms Oona King

To ask the Deputy Prime Minister pursuant to his answer of 5 July 2004, Official Report, columns 458–59W, on shared ownership housing, what the average rent and service charge was on the 50 per cent. stake held by the registered social landlord in a(a) one-bed, (b) two-bed and (c) three-bed shared ownership property in (i) Tower Hamlets, (ii) the eastern sub-region, (iii) London and (iv) England in the latest year for which figures are available. [185254]

Keith Hill

The following table shows the average rent and service charges for shared ownership properties where a 50 per cent. stake is held by the registered social landlord, broken down by the number of bedrooms, in Tower Hamlets, the east London sub-region, London and England in 2003–04.

Shared ownership sales during 2003–04 Average monthly rent and service charges for those who purchased a 50 per cent. stake
Number of sales Monthly rent (£) Monthly service charge (£)
One bedroom
Tower Hamlets 7 123.90 38.11
East London 27 151.15 57.43
London 165 155.55 58.66
England 339 139.83 50.30
Two bedrooms
Tower Hamlets 5 209.84 51.36
East London 120 198.01 53.30
London 331 189.36 49.47
England 1,420 142.50 34.26
Three bedrooms
Tower Hamlets 2 164.30 0.00
East London 39 201.63 26.88
London 89 197.24 25.16
England 682 152.79 19.27

Because the buyer took a 50 per cent. stake, the average price paid by the buyer represents one-half of the property.

The figures include the following schemes:

Do-It-Yourself Shared Ownership, Shared Ownership for the Elderly, Leasehold Schemes for the Elderly, Ordinary Shared Ownership Schemes

East London sub-region 1 is an amalgamation of Barking and Dagenham, Havering, Hackney, Newham, Tower Hamlets, Redbridge, Waltham Forest

Source:

Housing Corporation, CORE Sales