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Statistical Bulletin HSG/2004/2:
Housing Trends in Scotland: Quarter ending 30 September 2003
Mortgages at completion stage: 1993 to 30 September 2003 | Table 5 |
Period 1 | Number of loans (000) 2 | Mix-adjusted House Price Index 2002=100 3 | All purchasers | Purchasers other than ex-local authority tenants | Percentage of first time purchasers |
Average house price () | Percentage of price advanced 4 | Average recorded income () 5 | Mix-adjusted average house price () 6 | Percentage of price advanced | Average recorded income () |
1993 | na | 75 | 49,568 | 74 | 19,233 | 59,098 | 78 | 20,852 | 56 |
1994 | na | 76 | 50,651 | 75 | 19,928 | 59,758 | 78 | 21,708 | 57 |
1995 | 53 | 77 | 53,143 | 76 | 20,928 | 60,488 | 79 | 22,292 | 54 |
1996 | 65 | 79 | 56,674 | 75 | 21,877 | 61,984 | 79 | 22,763 | 50 |
1997 | 74 | 84 | 57,883 | 75 | 22,450 | 65,973 | 79 | 23,991 | 50 |
1998 | 72 | 89 | 63,585 | 75 | 24,151 | 69,690 | 78 | 25,225 | 52 |
1999 | 83 | 91 | 69,312 | 75 | 25,936 | 71,164 | 77 | 26,519 | 50 |
2000 | 78 | 93 | 69,961 | 77 | 26,877 | 73,685 | 80 | 27,589 | 49 |
2001 | 86 | 97 | 73,570 | 76 | 28,495 | 76,400 | 80 | 28,712 | 41 |
2002 | 94 | 110 | 77,655 | 73 | 28,669 | 86,232 | 78 | 28,738 | 30 |
2002 1st Qtr | 18 | 100 | 68,336 | 72 | 26,966 | 79,349 | 82 | 27,048 | 31 |
2002 2nd Qtr | 23 | 109 | 81,021 | 75 | 30,651 | 81,871 | 78 | 31,564 | 27 |
2002 3rd Qtr | 27 | 114 | 85,680 | 73 | 31,677 | 85,758 | 76 | 32,600 | 30 |
2002 4th Qtr | 26 | 117 | 87,807 | 72 | 31,650 | 87,716 | 75 | 32,199 | 31 |
2003 1st Qtr | 15 | 113 | 96,105 | 64 | 29,489 | 82,897 | 74 | 28,895 | 24 |
2003 2nd Qtr | 20 | 122 | 104,030 | 63 | 31,733 | 89,558 | 73 | 31,417 | 23 |
2003 3rd Qtr | 21 | 130 | 103,944 | 70 | 33,353 | 95,342 | 72 | 32,370 | 18 |
Source: Survey of Mortgage Lenders, Office of the Deputy Prime Minister.
Note: Figures since 1993 have been revised, substantially in some cases, due to changes in methodology (see Notes and Definitions). Due to rounding, the total shown may not be equal to the sum of constituent parts.
1. The relatively small sample sizes and effects of seasonality mean that quarter on quarter changes should be interpreted with caution.
2. The numbers of loans are now estimated by applying the house purchasing activity rate for England and Wales to the estimated privately-owned housing stock in Scotland (see Notes and Definitions).
3. The House Price Index was revised in 2003. See Notes and Definitions.
4. The percentage of price advanced has been revised. Percentages are now calculated on a case-by case basis and then averaged. Previously the percentages were derived on the overall average price and advance.
5. Revised June 2004.
6. The mix-adjusted average prices are determined using a set of index weights which are revised each January to reflect the pattern of property transactions during the previous three years. Consequently, while house prices within the year are comparable - they are all based on the same weights - house prices between years cannot be compared because the previous and current year's weights are different. The index itself is constructed on a chain-linked basis, which enables year-on-year comparisons to be made. For example, this means that the year-on-year change in the index for July is effectively the change in the average price from July in the previous year to January in the current year (using the previous year's weights) combined with the change in the average price from January to July in the current year using the current year's weights. Therefore, the year-on-year change in the index is not the same as the year-on-year change in the mix-adjusted average price. 2002 figures revised in June 2004.
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