April house prices up 0.8 per cent since March: average house price in England and Wales now £163,083

(PR06/11) 31/05/2011

April house prices up 0.8 per cent since March: average house price in England and Wales now £163,083

The April 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 £163,083. The monthly change from March to April is an increase of 0.8 per cent.

Two regions in England and Wales experienced increases in their average property value over the last 12 months. The region with the highest annual price change was London with an increase of 5 per cent. London also experienced the greatest monthly rise with a movement of 3 per cent. The North East experienced the greatest annual price fall with a decrease of -8.1 per cent. This region also experienced the most significant monthly price fall with a movement of -1.7 per cent.

The most up-to-date figures available show that during February 2011, the number of completed house sales in England and Wales decreased by 10 per cent to 38,336 from 42,515 in February 2010. The number of properties sold in England and Wales for over £1 million increased by 14 per cent between February 2010 and February 2011, from 399 to 454.

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

Region	Monthly change (since March 2011)	Annual change (since April 2010)	Average price (April 2011)
London	3.0%	5.0%	£352,187
East Midlands	1.7%	-2.8%	£125,646
Wales	1.2%	-2.8%	£120,452
West Midlands	1.1%	-2.7%	£131,859
England & Wales	0.8%	-1.3%	£163,083
South West	0.8%	-2.8%	£173,424
South East	0.7%	0.5%	£208,314
Yorkshire & The Humber	0.2%	-4.2%	£121,002
East	-0.4%	-2.0%	£172,659
North West	-0.5%	-4.6%	£114,075
North East	-1.7%	-8.1%	£103,295

Average prices by property type (England and Wales)	April 2011	April 2010	Difference (%)
Detached	£256,923	£259,436	-1.0%
Semi-detached	£153,670	£156,203	-1.6%
Terraced	£124,601	£126,016	-1.1%
Flat/maisonette	£152,530	£155,134	-1.7%
All	£163,083	£165,243	-1.3%

Month	Sales 2010 (England and Wales)	Sales 2009 (England and Wales)	Difference
January	35,822	26,273	36%
February	42,515	27,272	56%
March	51,392	35,531	45%
April	52,256	39,347	33%
May	52,136	45,866	14%
June	62,644	54,777	14%
July	67,367	63,666	6%
August	61,330	58,338	5%
September	57,270	58,502	-2%
October	58,340	65,796	-11%
November	55,893	61,108	-9%
December	56,175	78,470	-28%
Total	653,140	614,946	6%

Month	Sales 2011 (England and Wales)	Sales 2010 (England and Wales)	Difference
January	36,868	35,822	3%
February	38,336	42,515	-10%

ENDS

Notes to editors

Since 2006, Land Registry's House Price Index (HPI), which is available free at www1.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 May Index will be published at 11am on Tuesday 28 June 2011.
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 22 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 Lord Chancellor and Secretary of State for Justice, 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

Contacts

Marion Shelley 0300 0067543, 07790 690297

marion.shelley@landregistry.gsi.gov.uk