29 April 2013
PR 07/13
March Market Trend Data from Land Registry
- March house prices up 0.1 per cent since February: average house price in England and Wales now £161,793
- 1,317 repossessions in England and Wales during January 2013
- South East tops the table of regional applications with 245,168 in March
- Over 47,600 residential properties in England and Wales lodged for registration in March ranging from £14,000 to £12.5 million.
The March data from Land Registry's House Price Index shows an annual price increase of 0.9 per cent which takes the average property value in England and Wales to £161,793. The monthly change from February to March shows an increase of 0.1 per cent. Repossession volumes decreased by 18 per cent in January 2013 to 1,317 compared with 1,602 in January 2012.
- The region in England and Wales which experienced the greatest increase in its average property value over the last 12 months is London with a movement of 9.6 per cent.
- London also experienced the greatest monthly rise with a movement of 2.5 per cent.
- The region with the greatest annual price fall is the North East with a decrease of 5.5 per cent.
- The North West saw the most significant monthly price fall with a decrease of 2.5 per cent.
- The most up-to-date figures available show that during January 2013, the number of completed house sales in England and Wales decreased by 5 per cent to 41,763 compared with 43,752 in January 2012.
- The number of properties sold in England and Wales for over £1 million in January 2013 increased by 28 per cent to 610 from 476 in January 2012.
- London and Wales were the only regions to see an increase in repossessions of 28 per cent and 24 per cent respectively (January 2013 compared with January 2012).
Download full HPI report Search the House Price Index About the House Price Index
| Region | Monthly change (since February 2013) | Annual change (since March 2012) |
Average price (March 2013) |
|---|---|---|---|
| London | 2.5% | 9.6% | £374,568 |
| Yorkshire & The Humber | 1.1% | -0.8% | £117,192 |
| East | 1.0% | 1.1% | £174,753 |
| West Midlands | 1.0% | 0.4% | £130,276 |
| East Midlands | 0.3% | -0.7% | £122,795 |
| England & Wales | 0.1% | 0.9% | £161,793 |
| South East | -0.3% | 1.2% | £208,479 |
| South West | -0.5% | 0.0% | £170,110 |
| Wales | -0.9% | 1.2% | £116,174 |
| North East | -1.8% | -5.5% | £97,033 |
| North West | -2.5% | -4.9% | £106,537 |
Average price by property type
| Avg. price by property type (England and Wales) |
March 2013 | March 2012 | Difference |
|---|---|---|---|
|
Detached |
£256,145 |
£251,521 |
1.8% |
|
Semi-detached |
£153,270 |
£153,139 |
0.1% |
|
Terraced |
£121,616 |
£122,029 |
-0.3% |
|
Flat/maisonette |
£153,575 |
£150,012 |
2.4% |
|
All |
£161,793 |
£160,365 |
0.9% |
Sales volumes, 2011-2012
| Month | Sales 2012 (England and Wales) |
Sales 2011 (England and Wales) |
Difference |
|---|---|---|---|
|
January |
43,752 |
37,642 |
16% |
|
February |
44,821 |
39,695 |
13% |
|
March |
61,315 |
46,778 |
31% |
|
April |
43,225 |
50,789 |
-15% |
|
May |
52,459 |
49,008 |
7% |
|
June |
59,747 |
57,755 |
3% |
|
July |
59,022 |
62,339 |
-5% |
|
August |
64,847 |
64,452 |
1% |
|
September |
52,612 |
63,584 |
-17% |
|
October |
58,837 |
58,021 |
1% |
|
November |
63,253 |
60,391 |
5% |
|
December |
55,385 |
63,614 |
-13% |
|
Total |
659,275 |
654,068 |
1% |
Sales volumes, 2012-2013
| Month | Sales 2013 (England and Wales) | Sales 2012 (England and Wales) | Difference |
|---|---|---|---|
|
January |
41,763 |
43,752 |
-5% |
Reposessions by region
| Repossessions by region | January 2013 | January 2012 | Difference |
|---|---|---|---|
|
East |
98 |
139 |
-29% |
|
East Midlands |
119 |
164 |
-27% |
|
London |
171 |
134 |
28% |
|
North East |
39 |
42 |
-7% |
|
North West |
281 |
339 |
-17% |
|
South East |
161 |
196 |
-18% |
|
South West |
80 |
102 |
-22% |
|
Wales |
110 |
89 |
24% |
|
West Midlands |
86 |
165 |
-48% |
|
Yorkshire & The Humber |
172 |
232 |
-26% |
|
England and Wales |
1,317 |
1,602 |
-18% |
The Transaction Data shows Land Registry completed over 1,076,873 applications from its customers (account and non-account) in March. This includes 1,036,522 applications by account customers, of which:
- 229,236 were applications in respect of registered land (dealings)
- 485,645 were applications to obtain an official copy of a register or title plan
- 149,812 were searches
- 55,686 were transactions for value.
Access the full transaction dataset
Transactions for value
| Top three customers | Transactions for value |
|---|---|
|
My Home Move Limited |
1001 |
|
Countrywide Property Lawyers |
871 |
|
O'Neill Patient |
605 |
Searches
| Top three customers | Searches |
|---|---|
| Enact | 4,570 |
| Optima Legal Services | 4,029 |
| O’Neill Patient | 3,586 |
Applications by region
| Region | Applications |
|---|---|
|
South East |
245,168 |
|
Greater London |
200,149 |
|
North West |
117,807 |
|
South West |
106,496 |
|
West Midlands |
91,840 |
|
Yorks & Humber |
88,211 |
|
East Midlands |
76,455 |
|
Wales |
53,950 |
|
North |
51,469 |
|
East Anglia |
44,853 |
|
Isles of Scilly |
167 |
|
England and Wales (not assigned) |
38 |
|
Total |
1,076,873 |
The Price Paid Data includes details of over 47,600 residential property sales in England and Wales lodged for registration in March 2013. The most expensive sale in March 2013 was a property located in the London borough of Kensington which sold for over £12 million. The cheapest sale in March 2013 is located in Burnley, Lancashire and sold for £14,000.
Access the full price paid dataset
ENDS
Notes to editors
- Market Trend Data is published on the twentieth working day of each month. The April House Price Index (HPI) and Transaction and Price Paid data sets will be published at 11am on Thursday 30 May 2013.
- 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
- 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 17 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 adjusted headline statistics for England and Wales on p14 of the monthly HPI report include the additional repossession data.
- The repossession data is based on the number of transactions lodged with Land Registry by lenders exercising their power of sale. Once we have identified these transactions, we extract the price paid information from the related register entry.
- Although the HPI goes back to January 1995, we have only been recording repossessions comprehensively since 2006. This means that historic repossession data is not available prior to January 2006. See About our House Price Index for more information.
- 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. See an explanation of the terms used.
- 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. Find out more about the different types of search.
- 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:
- the full address
- the price paid
- the date of transfer
- the property type
- whether it is new build or not
- whether it is freehold or leasehold.
- It can be downloaded from the Land Registry website as a monthly snapshot of our price paid database 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
- Marion Shelley 0300 0067543, 07790 690297, marion.shelley@landregistry.gsi.gov.uk
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