The average value of assets held by 479 House of Representatives lawmakers elected last September is 49.78 million yen excluding equities, according to a Kyodo News survey based on declarations released Monday.

The figure is down 1.86 million yen from the previous survey in April 2004 involving reports by lawmakers newly elected or who retained their Lower House seats in the general election in November 2003.

The drop in the average apparently reflects the retirement of many veteran lawmakers last year and the rise in the number of young legislators.