(PR04/12) 28 February 2012
January Market Trend Data from Land Registry
Detailed monthly transaction information is now available in addition to the House Price Index
January house prices up 1.1 per cent since December: average house price in England and Wales now £161,545
South East tops the table of regional applications with 247,768 in January
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 January transaction data released 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 January data from Land Registry's flagship House Price Index shows an annual price decrease of 1.0 per cent which takes the average property value in England and Wales to £161,545. The monthly change from December to January is 1.1 per cent.
The region in England and Wales which experienced the highest increase in its average property value over the last 12 months is London with a movement of 2.9 per cent. London also experienced the greatest monthly rise with a movement of 2.5 per cent. The North East experienced the greatest annual price fall with a decrease of 4.5 per cent. The North West saw the most significant monthly price fall with a decrease of 2.1 per cent.
The most up-to-date figures available show that, during November 2011, the number of completed house sales in England and Wales increased by 3 per cent to 57,967 compared to 56,312 in November 2010. The number of properties sold in England and Wales for over £1 million in November 2011 decreased by 4 per cent to 524 from 548 in November 2010.
For more information go to www.landregistry.gov.uk/house-prices
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|
Region |
Monthly change (since December 2011) |
Annual change (since January 2011) |
Average price (January 2012) |
|---|---|---|---|
|
London |
2.5% |
2.9% |
£351,305 |
|
North East |
2.2% |
-4.5% |
£102,066 |
|
South West |
1.6% |
-0.6% |
£173,090 |
|
England & Wales |
1.1% |
-1.0% |
£161,545 |
|
South East |
1.0% |
0.5% |
£207,761 |
|
East |
1.0% |
-0.4% |
£173,412 |
|
Wales |
0.9% |
-3.8% |
£117,078 |
|
Yorkshire & The Humber |
0.3% |
-3.7% |
£119,014 |
|
East Midlands |
0.2% |
-2.7% |
£123,142 |
|
West Midlands |
0.1% |
-2.2% |
£128,803 |
|
North West |
-2.1% |
-4.2% |
£109,866 |
|
Average prices by property type (England and Wales) |
January 2012 |
January 2011 |
Difference |
|---|---|---|---|
|
Detached |
£254,943 |
£258,046 |
-1.2% |
|
Semi-detached |
£153,729 |
£153,966 |
-0.2% |
|
Terraced |
£121,860 |
£124,646 |
-2.2% |
|
Flat/maisonette |
£152,013 |
£152,803 |
-0.5% |
|
All |
£161,545 |
£163,206 |
-1.0% |
|
Month |
Sales 2010 (England and Wales) |
Sales 2009 (England and Wales) |
Difference |
|---|---|---|---|
|
January |
35,868 |
26,303 |
36% |
|
February |
42,558 |
27,311 |
56% |
|
March |
51,444 |
35,567 |
45% |
|
April |
52,310 |
39,386 |
33% |
|
May |
52,206 |
45,899 |
14% |
|
June |
62,754 |
54,818 |
14% |
|
July |
67,504 |
63,721 |
6% |
|
August |
61,497 |
58,389 |
5% |
|
September |
57,489 |
58,568 |
-2% |
|
October |
58,640 |
65,857 |
-11% |
|
November |
56,312 |
61,182 |
-8% |
|
December |
56,861 |
78,590 |
-28% |
|
Total |
655,443 |
615,591 |
6% |
|
Month |
Sales 2011 (England and Wales) |
Sales 2010 (England and Wales) |
Difference |
|---|---|---|---|
|
January |
37,562 |
35,868 |
5% |
|
February |
39,651 |
42,558 |
-7% |
|
March |
46,686 |
51,444 |
-9% |
|
April |
50,640 |
52,310 |
-3% |
|
May |
48,863 |
52,206 |
-6% |
|
June |
57,506 |
62,754 |
-8% |
|
July |
62,052 |
67,504 |
-8% |
|
August |
64,012 |
61,497 |
4% |
|
September |
62,830 |
57,489 |
9% |
|
October |
56,877 |
58,640 |
-3% |
|
November |
57,967 |
56,312 |
3% |
The Transaction Data shows Land Registry received almost 1.1 million applications from all its customers (account and non-account) in January. This includes 1,005,863 applications by account customers, of which 247,549 were applications in respect of registered land (dealings), 458,829 were applications to obtain an official copy of a register or title plan, 141,463 were searches and 60,210 were transactions for value.
|
Top three customers |
Applications |
|---|---|
|
NLIS Operations |
22,393 |
|
Enact |
19,722 |
|
Optima Legal Services |
17,440 |
|
Top three customers |
Transactions for value |
|---|---|
|
My Home Move Limited |
1,179 |
|
Countrywide Property Lawyers |
898 |
|
O'Neill Patient |
665 |
|
Top three customers |
Searches |
|---|---|
|
Enact |
6,080 |
|
Optima Legal Services |
4,956 |
|
NLIS Operations |
3,682 |
|
Top three local authorities |
Applications |
|---|---|
|
Birmingham |
17,625 |
|
City of Westminster |
16,532 |
|
Cornwall |
12,295 |
|
Region |
Applications |
|---|---|
|
South East |
247,768 |
|
Greater London |
190,156 |
|
North West |
117,987 |
|
South West |
107,113 |
|
West Midlands |
99,203 |
|
Yorks & Humber |
87,741 |
|
East Midlands |
77,716 |
|
Wales |
54,818 |
|
North |
51,323 |
|
East Anglia |
44,231 |
|
Isles of Scilly |
48 |
|
E&W not assigned |
25 |
|
England & Wales |
1,078,129 |
ENDS
Notes to editors
- Market Trend Data is published on the twentieth working day of each month. The February House Price Index (HPI) and Transaction Data will both be published at 11am on Wednesday 28 March 2012.
- 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.
- 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 Open Government Licence (OGL) developed by the National Archives permits the free use and re-use of public sector information. For further information visit http://www.nationalarchives.gov.uk/doc/open-government-licence
- 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.
Contact
Marion Shelley 0300 0067543, 07790 690297
marion.shelley@landregistry.gsi.gov.uk
