29 August 2012
PR14/12

July Market Trend Data from Land Registry

July house prices up 0.8 per cent since June: average house price in England and Wales now £162,900
South East tops the table of regional applications with 263,214 in July
Over 62,000 residential properties in England and Wales lodged for registration in July

The July data from Land Registry's flagship House Price Index shows an annual price increase of 0.3 per cent which takes the average property value in England and Wales to £162,900. The monthly change from June to July is an increase of 0.8 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 6.5 per cent.
London also experienced the greatest monthly rise with an increase of 2.7 per cent.
The North West experienced the greatest annual price fall with a decrease of 3.9 per cent.
The North East 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 May 2012, the number of completed house sales in England and Wales increased by 2 per cent to 50,083 compared with 48,974 in May 2011.
The number of properties sold in England and Wales for over £1 million in May 2012 increased by 107 per cent to 562 from 271 in May 2011.

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House Price Index

Region	Monthly change (since June 2012)	Annual change (since July 2011)	Average price (July 2012)
London	2.7%	6.5%	£367,785
Wales	2.3%	-1.3%	£118,896
East Midlands	1.2%	0.4%	£124,080
England & Wales	0.8%	0.3%	£162,900
East	0.4%	0.8%	£175,051
South East	0.4%	0.7%	£209,532
West Midlands	0.3%	-0.8%	£130,124
Yorkshire & The Humber	-0.1%	-2.5%	£117,865
South West	-0.6%	-1.9%	£171,326
North West	-1.7%	-3.9%	£109,235
North East	-2.1%	-3.8%	£98,557

Average price by property type (England and Wales)	July 2012	July 2011	Difference
Detached	£256,496	£256,405	-
Semi-detached	£153,339	£153,156	0.1%
Terraced	£123,097	£123,548	-0.4%
Flat/maisonette	£155,314	£151,981	2.2%
All	£162,900	£162,345	0.3%

Month	Sales 2011 (England and Wales)	Sales 2010 (England and Wales)	Difference
January	37,613	35,886	5%
February	39,680	42,579	-7%
March	46,745	51,472	-9%
April	50,725	52,344	-3%
May	48,974	52,237	-6%
June	57,691	62,785	-8%
July	62,280	67,546	-8%
August	64,374	61,526	5%
September	63,500	57,522	10%
October	57,895	58,680	-1%
November	60,267	56,362	7%
December	63,403	56,917	11%
Total	653,147	655,856	0%

Month	Sales 2012 (England and Wales)	Sales 2011 (England and Wales)	Difference
January	43,537	37,613	16%
February	44,554	39,680	12%
March	60,476	46,745	29%
April	42,260	50,725	-17%
May	50,083	48,974	2%

Transaction Data

The Transaction Data shows Land Registry received almost 1,132,000 applications from its customers (account and non-account) in July. This includes 1,080,732 applications by account customers, of which:

268,169 were applications in respect of registered land (dealings)
474,471 were applications to obtain an official copy of a register or title plan
161,692 were searches
62,888 were transactions for value.

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Top three customers	Transactions for value
Countrywide Property Lawyers	1,486
My Home Move Limited	1,309
O'Neill Patient	717

Top three customers	Searches
Enact	5,533
Optima Legal Services	5,145
T M Group UK Ltd (Search Choice)	3,933

Top three local authority areas	Applications
Birmingham	17,413
City of Westminster	16,693
Leeds	13,400

Region	Applications
South East	263,214
Greater London	204,658
North West	123,617
South West	114,560
West Midlands	95,288
Yorks & Humber	92,461
East Midlands	80,928
Wales	56,442
North	54,114
East Anglia	46,539
England & Wales (not assigned)	48
Isles of Scilly	38
Total	1,131,907

The Price Paid Data includes details of over 62,000 residential property sales in England and Wales that were lodged for registration in July 2012.

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ENDS

Notes to editors

Market Trend Data is published on the twentieth working day of each month.
The August House Price Index (HPI) and Transaction and Price Paid data sets will be published at 11am on Friday 28 September 2012.
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 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
This year marks the 150^th 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.
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.
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.
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. For an explanation of the terms used, see http://www.landregistry.gov.uk/professional/market-trend-data/public-data/faqs#m11
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. For information about the different types of search, see http://www.landregistry.gov.uk/professional/market-trend-data/public-data/faqs#m11
Price Paid Data is residential property price data for all the residential property sales in England and Wales that are lodged with us for registration in that month. The following information is available for each property:
It can be downloaded from the Land Registry website as a monthly snapshot of our price paid database at http://www.landregistry.gov.uk/professional/market-trend-data/public-data/price-paid-data and is available for anyone to examine or reuse free of charge under the OGL.
For historical Price Paid Data, email addvalueservices@landregistry.gsi.gov.uk or ring 0800 678 1678. There is a charge for these reports.

Contact

Ronal Patel: 0300 0067490, Ronal.patel@landregistry.gsi.gov.uk
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