|
All
Indicators > Indicator RH2: Wealth
| Definition |
Measures of high value property areas |
| Dimension |
Root causes |
| Sector |
Household conditions (individual) |
| Components |
- RH2_1 High value dwelling stock
- RH2_2 House prices
|
| Source |
Various - see individual component
details |
Component RH2_1: High value dwelling stock
| Definition |
Number of dwellings falling in Council Tax Bands F and
above as a proportion of all dwellings |
| Source Numerator |
2001, 2001 Ethnic, 2003: Council Tax valuation lists as at end March 2001,
Valuation Office Agency http://www.voa.gov.uk/ |
Additional details
This indicator is calculated from Council Tax valuation lists
provided by the Valuation Office Agency and the Office of the Deputy
Prime Minister.
Council tax valuations are based on the price a property, as it
existed on 1 April 1993, would have fetched if it had been sold on
the open market on 1 April 1991. Each dwelling in England is
assigned to one of eight bands as follows:
Band A up to £40,000
Band B £40,001 to
£52,000
Band C £52,001 to £68,000
Band D £68,001 to
£88,000 |
Band E £88,001 to £120,000
Band F £120,001
to £160,000
Band G £160,001 to £320,000
Band H £320,001
and above |
A dwelling is defined as accommodation which is normally lived in
by one or more households and includes houses, flats, bungalows and
maisonettes. Temporary structures are counted as dwellings if they
are the sole or main residence of a household. The figures exclude
business premises but include composite dwellings (properties used
for both domestic and business purposes).
The definition of a dwelling differs from that used in the 2001
census in the way that it treats shared accommodation. While the
Census defines a dwelling as accommodation that is physically
self-contained, the Council Tax is concerned with establishing
ownership and liability for Council Tax. These differences are
compounded by variations in the treatment of communal
establishments. As a result, dwelling counts are not directly
comparable.
The dwelling counts have been validated by cross-reference to
independent estimates of dwelling stock provided by Local Authority
Districts.
Component RH2_2: House prices
| Definition |
Average house prices by property type weighted by number
of sales in each property type |
| Source Numerator |
2001, 2001 Ethinc: Land Registry, 2001, Crown Copyright - http://www.landreg.gov.uk/
|
| 2003: Land Registry, 2001, Crown Copyright - http://www.landreg.gov.uk/ |
| Note |
2001 SOA level data, weighted by SOA population as a proportion of Local Authority population (process as with weights on data)
|
Additional details
This component has been constructed from residential property
price data collected by the Land Registry. The dataset consists of
average house prices and number of sales broken down by property
type. Property types include detached, semi-detached, terraced and
flat/maisonette, both old and new.
Average house prices were calculated for each property type for
Local Authority Districts. These were weighted by the number of
sales in the respective property type and the figures combined to
give an overall house price score.
For ethnic estimation, an SOA level weighting function was created to model proportions of individuals in ethinc groups within the Local Authorities.
| 
