November house prices up 0.3 per cent since October: average house price in England and Wales now £160,780

(PR21/11) 30/01/2011

November house prices up 0.3 per cent since October: average house price in England and Wales now £160,780

The November data from Land Registry's flagship House Price Index shows an annual price decrease of 1.9 per cent which takes the average property value in England and Wales to £160,780. The monthly change from October to November is an increase of 0.3 per cent.

The only region in England and Wales to experience an increase in its average property value over the last 12 months is London with a movement of 1.4 per cent. The North West experienced the greatest monthly rise with a movement of 1.4 per cent. The North East experienced the greatest annual price fall with a decrease of 5.4 per cent. The East experienced the most significant monthly price fall with a decrease of 0.6 per cent.

The most up-to-date figures available show that during September 2011, the number of completed house sales in England and Wales increased by 6 per cent to 61,031 from 57,463 in September 2010. The number of properties sold in England and Wales for over £1 million in September 2011 increased by 1 per cent to 729 from 720 in September 2010.

For more information go to www.landregistry.gov.uk/houseprices

Region	Monthly change (since October 2011)	Annual change (since November 2010)	Average price (November 2011)
North West	1.4%	-4.8%	£112,374
Wales	1.1%	-1.6%	£118,370
London	0.8%	1.4%	£342,749
West Midlands	0.6%	-1.8%	£131,303
Yorkshire & The Humber	0.5%	-3.4%	£120,057
England & Wales	0.3%	-1.9%	£160,780
South West	0.3%	-1.9%	£172,150
North East	0.3%	-5.4%	£101,954
East Midlands	0.0%	-2.5%	£123,352
South East	-0.1%	-0.9%	£206,371
East	-0.6%	-2.3%	£171,619

Average prices by property type (England and Wales)	November 2011	November 2010	Difference
Detached	£254,770	£258,720	-1.5%
Semi-detached	£153,265	£155,260	-1.3%
Terraced	£121,065	£124,868	-3.0%
Flat/maisonette	£149,661	£152,251	-1.7%
All	£160,780	£163,850	-1.9%

Month	Sales 2010 (England and Wales)	Sales 2009 (England and Wales)	Difference
January	35,858	26,296	36%
February	42,553	27,308	56%
March	51,440	35,561	45%
April	52,304	39,372	33%
May	52,201	45,894	14%
June	62,736	54,815	14%
July	67,491	63,709	6%
August	61,483	58,382	5%
September	57,463	58,561	-2%
October	58,621	65,850	-11%
November	56,295	61,171	-8%
December	56,838	78,576	-28%
Total	655,283	615,495	6%

Month	Sales 2011 (England and Wales)	Sales 2010 (England and Wales)	Difference
January	37,539	35,858	5%
February	39,612	42,553	-7%
March	46,623	51,440	-9%
April	50,576	52,304	-3%
May	48,746	52,201	-7%
June	57,258	62,736	-9%
July	61,670	67,491	-9%
August	63,260	61,483	3%
September	61,031	57,463	6%

ENDS

Notes to editors

Since 2006, Land Registry's House Price Index (HPI), which is available free at www.landregistry.gov.uk/houseprices has gathered its own momentum to become a leading indicator of property movement within England and Wales. It is widely viewed as "the most accurate barometer of the housing market".
The HPI is published on the twentieth working day of each month. The full December Index will be published at 11am on Monday 30 January 2012.
The HPI uses a sample size that is larger than all other statistical measures available. It is calculated using Land Registry's dataset of all residential property sales completed in England and Wales since January 1995.
Land Registry's dataset contains details on 16 million residential transactions. Of these, over six million are identifiable matched pairs, providing the basis for the repeat sales regression analysis used to complete the index. This technique of quality adjustment ensures an "apples to apples" comparison between properties.
With the largest transactional database of its kind detailing over 23 million titles, Land Registry underpins the economy by safeguarding ownership of many billions of pounds worth of property.
As a government department established in 1862, executive agency and trading fund responsible to the Secretary of State for Business, Innovation and Skills, Land Registry keeps and maintains the Land Register for England and Wales. The Land Register has been an open document since 1990.
For further information about Land Registry visit www1.landregistry.gov.uk

Contact

Marion Shelley 0300 0067543, 07790 690297
marion.shelley@landregistry.gsi.gov.uk