(PR01/12) 30 January 2012
December market trend data from Land Registry
Detailed monthly transaction information is now available in addition to the House Price Index.
No change in monthly house prices from November to December: average house price in England and Wales now £160,384.
South East tops the table of regional applications with 214,852 in December.
As part of its commitment to the Government’s priorities of economic growth and data transparency, detailed Land Registry transaction information is now available monthly in addition to the House Price Index.
The first set of free data, released today, 30 January 2012, by Land Registry as a founder member of the Public Data Group, includes a detailed breakdown of applications by number and type from solicitors, conveyancers and lenders and covers commercial property and land as well as residential property.
The consumer will be better informed by being able to see the volume and types of transactions conducted in England and Wales while the property and finance sectors will be able to use the data to assess trends and movements in the property market.
Downloadable for re-use in an accessible and re-useable format under the Open Government Licence (OGL), the following data will be updated monthly:
- number and types of applications by all account customers
- number and types of transactions for value by all account customers
- number of searches by all account customers
- number of applications in England and Wales divided by region and local authority district by all customers (account and non-account).
Malcolm Dawson, Chief Executive of Land Registry said:
"This data alongside the information which informs our House Price Index can be used to both examine the market but also to inform the public.
"The potential for how information can be used (and re-used) is considerable. As a member of the new Public Data Group, we firmly believe that this dataset and the free release of our price paid information in March will help support transparency and the Government’s economic growth agenda."
From March 2012, monthly Land Registry Price Paid information showing all residential property sales in England and Wales at address level will be published as part of the Market Trend Data. This will be downloadable for re-use under the OGL in the same format as the Transaction Data.
The December data from Land Registry's flagship House Price Index shows an annual price decrease of 1.3 per cent which takes the average property value in England and Wales to £160,384. There is no monthly change from November to December.
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 2.8 per cent. The North West experienced the greatest monthly rise with a movement of 1.5 per cent. The North East experienced the greatest annual price fall with a decrease of 7.1 per cent and the most significant monthly price fall with a decrease of 1.9 per cent.
The most up-to-date figures available show that, during October 2011, the number of completed house sales in England and Wales decreased by 6 per cent to 55,309 compared to 58,634 in October 2010. The number of properties sold in England and Wales for over £1 million in October 2011 decreased by 10 per cent to 525 from 582 in October 2010.
For more information go to www.landregistry.gov.uk
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|
Region |
Monthly change (since November 2011) |
Annual change (since December 2010) |
Average price (December 2011) |
|---|---|---|---|
|
North West |
1.5% |
-3.4% |
£113,204 |
|
Wales |
0.9% |
-3.0% |
£117,447 |
|
London |
0.8% |
2.8% |
£345,298 |
|
East |
0.8% |
-0.2% |
£172,899 |
|
East Midlands |
0.4% |
-1.5% |
£123,697 |
|
England & Wales |
0.0% |
-1.3% |
£160,384 |
|
South East |
-0.2% |
-0.2% |
£206,522 |
|
Yorkshire & The Humber |
-0.6% |
-3.2% |
£119,096 |
|
South West |
-0.9% |
-1.5% |
£170,504 |
|
West Midlands |
-1.0% |
-3.2% |
£129,082 |
|
North East |
-1.9% |
-7.1% |
£99,464 |
|
Average prices by property type (England and Wales) |
December 2011 |
December 2010 |
Difference |
|---|---|---|---|
|
Detached |
£252,118 |
£256,526 |
-1.7% |
|
Semi-detached |
£153,032 |
£154,271 |
-0.8% |
|
Terraced |
£121,406 |
£123,535 |
-1.7% |
|
Flat/maisonette |
£149,026 |
£151,383 |
-1.6% |
|
All |
£160,384 |
£162,521 |
-1.3% |
|
Month |
Sales 2010 (England and Wales) |
Sales 2009 (England and Wales) |
Difference |
|---|---|---|---|
|
January |
35,864 |
26,297 |
36% |
|
February |
42,557 |
27,309 |
56% |
|
March |
51,440 |
35,565 |
45% |
|
April |
52,305 |
39,380 |
33% |
|
May |
52,201 |
45,899 |
14% |
|
June |
62,744 |
54,815 |
14% |
|
July |
67,497 |
63,715 |
6% |
|
August |
61,488 |
58,386 |
5% |
|
September |
57,476 |
58,563 |
-2% |
|
October |
58,634 |
65,855 |
-11% |
|
November |
56,305 |
61,176 |
-8% |
|
December |
56,849 |
78,582 |
-28% |
|
Total |
655,360 |
615,542 |
6% |
|
Month |
Sales 2011 (England and Wales) |
Sales 2010 (England and Wales) |
Difference |
|---|---|---|---|
|
January |
37,544 |
35,864 |
5% |
|
February |
39,635 |
42,557 |
-7% |
|
March |
46,657 |
51,440 |
-9% |
|
April |
50,606 |
52,305 |
-3% |
|
May |
48,802 |
52,201 |
-7% |
|
June |
57,392 |
62,744 |
-9% |
|
July |
61,912 |
67,497 |
-8% |
|
August |
63,728 |
61,488 |
4% |
|
September |
62,106 |
57,476 |
8% |
|
October |
55,309 |
58,634 |
-6% |
The Transaction Data shows Land Registry received over 916,000 applications from all its customers (account and non-account) in December. This includes 850,236 applications by account customers, of which 244,191 were applications in respect of registered land (dealings), 333,919 were applications to obtain an official copy of a register or title plan, 150,150 were searches and 55,586 were transactions for value.
|
Top three customers |
Applications |
|---|---|
|
Enact |
19,404 |
|
NLIS Operations (MDA) |
18,117 |
|
Optima Legal Services |
16,462 |
|
Top three customers |
Transactions for value |
|---|---|
|
My Home Move Ltd |
977 |
|
Countrywide Property Lawyers |
857 |
|
O'Neill Patient |
418 |
|
Top three customers |
Searches |
|---|---|
|
Search Choice Limited |
6,256 |
|
Enact |
5,856 |
|
Optima Legal Services |
4,940 |
|
Top three local authorities |
Applications |
|---|---|
|
Birmingham |
14,446 |
|
City of Westminster |
13,280 |
|
Leeds |
10,179 |
|
Region |
Applications |
|---|---|
|
South East |
214,852 |
|
Greater London |
158,600 |
|
North West |
99,311 |
|
South West |
92,909 |
|
West Midlands |
80,469 |
|
Yorks & Humber |
76,430 |
|
East Midlands |
67,069 |
|
Wales |
45,199 |
|
North |
43,455 |
|
East Anglia |
37,819 |
|
Isles of Scilly |
22 |
|
E&W not assigned |
26 |
|
England & Wales |
916,161 |
ENDS
Notes to editors
- Market Trend Data is published on the twentieth working day of each month. The January House Price Index (HPI) and Transaction Data will both be published at 11am on Tuesday 28 February 2012. www.landregistry.gov.uk/market-trend-data
- The Open Government Licence (OGL) developed by the National Archives permits the free use and re-use of public sector information. For further information visit www.nationalarchives.gov.uk/doc/open-government-licence
- The Public Data Group brings together Land Registry, Companies House, the Met Office and Ordnance Survey to work collectively on pursuing opportunities and driving efficiencies as well as on making their data available to users and re-users at a reduced cost or for free.
- The monthly Transaction Data shows how many applications for first registrations, leases, transfers of part, dealings, official copies and searches were lodged by Land Registry account customers.
- Transactions for value include freehold and leasehold sales.
- Most searches carried out by a solicitor or conveyancer are to protect the purchase and/or mortgage. For example, a search will give the buyer priority for an application to Land Registry to register the purchase of the property.
- 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.
- This year marks the 150th anniversary of Land Registry. 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 www.landregistry.gov.uk
Contact
Marion Shelley 0300 0067543, 07790 690297
marion.shelley@landregistry.gsi.gov.uk
