All Indicators > Indicator RH2: Wealth
| Definition | Measures of high value property areas |
| Dimension | Root causes |
| Sector | Household conditions (individual) |
| Components |
|
| 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, 2005: 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 Ethnic: Land Registry, 2001, Crown Copyright - http://www.landreg.gov.uk/ |
| 2003: Land Registry, 2003, Crown Copyright - http://www.landreg.gov.uk/ | |
| 2005: Land Registry, 2005, 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 ethnic groups within the Local Authorities.