28 June 2013
PR 10/13
May Market Trend Data from Land Registry
- May house prices up 0.1 per cent since April: average house price in England and Wales now £161,969
- 1,448 repossessions in England and Wales during March 2013
- South East tops the table of regional applications with 278,186 in May
- Over 56,800 residential properties in England and Wales lodged for registration in May ranging from £10,000 to £27 million
The May data from Land Registry's House Price Index shows an annual price increase of 0.5 per cent which takes the average property value in England and Wales to £161,969. The monthly change from April to May shows an increase of 0.1 per cent. Repossession volumes decreased by 27 per cent in March 2013 to 1,448 compared with 1,981 in March 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 5 per cent.
- The East Midlands experienced the greatest monthly rise with a movement of 2 per cent.
- The region with the greatest annual price fall is Yorkshire & The Humber with a decrease of 2.2 per cent.
- The East saw the most significant monthly price fall with a decrease of 0.7 per cent.
- The most up-to-date figures available show that during March 2013, the number of completed house sales in England and Wales decreased by 15 per cent to 52,090 compared with 61,334 in March 2012.
- The number of properties sold in England and Wales for over £1 million in March 2013 increased by 21 per cent to 625 from 517 in March 2012.
- All regions saw repossessions decrease between March 2012 and March 2013. The region with the greatest fall in the number of repossessions was the North East where repossessions dropped by 39 per cent (March 2013 compared with March 2012).
Download full HPI report Search the House Price Index About the House Price Index
| Region | Monthly change (since April 2013) |
Annual change (since May 2012) |
Average price (May 2013) |
|---|---|---|---|
| East Midlands | 2.0% | 0.3% | £123,404 |
| North East | 1.5% | -2.1% | £97,910 |
| North West | 1.3% | 0.3% | £109,784 |
| London | 0.7% | 5.0% | £375,068 |
| West Midlands | 0.7 | 0.3% | £129,311 |
| Yorkshire & The Humber | 0.7% | -2.2% | £115,324 |
| South West | 0.3% | 0.7% | £173,612 |
| England & Wales | 0.1% | 0.5% | £161,969 |
| South East | -0.3% | 0.8% | £209,676 |
| Wales | -0.6% | -1.2% | £114,330 |
| East | -0.7% | 0.7% | £173,767 |
Average price by property type
| Avg. price by property type (England and Wales) |
May 2013 | May 2012 | Difference |
|---|---|---|---|
|
Detached |
£255,327 |
£253,933 |
0.5% |
|
Semi-detached |
£152,508 |
£152,821 |
-0.2% |
|
Terraced |
£122,016 |
£121,815 |
0.2% |
|
Flat/maisonette |
£154,982 |
£151,936 |
2.0% |
|
All |
£161,969 |
£161,133 |
0.5% |
Sales volumes, 2011-2012
| Month | Sales 2012 (England and Wales) |
Sales 2011 (England and Wales) |
Difference |
|---|---|---|---|
|
January |
43,754 |
37,645 |
16% |
|
February |
44,832 |
39,704 |
13% |
|
March |
61,334 |
46,784 |
31% |
|
April |
43,245 |
50,797 |
-15% |
|
May |
52,492 |
49,016 |
7% |
|
June |
59,815 |
57,760 |
4% |
|
July |
59,094 |
62,346 |
-5% |
|
August |
64,937 |
64,456 |
1% |
|
September |
52,746 |
63,590 |
-17% |
|
October |
59,069 |
58,029 |
2% |
|
November |
63,656 |
60,404 |
5% |
|
December |
56,248 |
63,626 |
-12% |
|
Total |
661,222 |
654,157 |
1% |
Sales volumes, 2012-2013
| Month | Sales 2013 (England and Wales) | Sales 2012 (England and Wales) | Difference |
|---|---|---|---|
|
January |
42,843 |
43,754 |
-2% |
|
February |
44,320 |
44,832 |
-1% |
|
March |
52,090 |
61,334 |
-15% |
Repossessions by region
| Repossessions by region | March 2013 | March 2012 | Difference |
|---|---|---|---|
|
East |
112 |
148 |
-24% |
|
East Midlands |
140 |
170 |
-18% |
|
London |
151 |
223 |
-32% |
|
North East |
42 |
69 |
-39% |
|
North West |
328 |
439 |
-25% |
|
South East |
180 |
229 |
-21% |
|
South West |
93 |
134 |
-31% |
|
Wales |
98 |
146 |
-33% |
|
West Midlands |
114 |
156 |
-27% |
|
Yorkshire & The Humber |
190 |
267 |
-29% |
|
England and Wales |
1,448 |
1,981 |
-27% |
The Transaction Data shows Land Registry completed over 1,209,400 applications from its customers (account and non-account) in May. This includes 1,166,285 applications by account customers, of which:
- 267,725 were applications in respect of registered land (dealings)
- 550,407 were applications to obtain an official copy of a register or title plan
- 163,081 were searches
- 63,245 were transactions for value.
Access the full transaction dataset
Transactions for value
| Top three customers | Transactions for value |
|---|---|
|
My Home Move Limited |
1,216 |
|
Countrywide Property Lawyers |
996 |
|
O'Neill Patient |
669 |
Searches
| Top three customers | Searches |
|---|---|
| Enact | 6,881 |
| Optima Legal Services | 5,441 |
| O’Neill Patient | 3,341 |
Applications by region
| Region | Applications |
|---|---|
|
South East |
278,186 |
|
Greater London |
223,961 |
|
North West |
130,375 |
|
South West |
119,867 |
|
West Midlands |
102,165 |
|
Yorks & Humber |
98,928 |
|
East Midlands |
86,880 |
|
North |
58,873 |
|
Wales |
58,616 |
|
East Anglia |
51,441 |
|
Isles of Scilly |
65 |
|
England and Wales (not assigned) |
45 |
|
Total |
1,209,402 |
The Price Paid Data includes details of over 56,800 residential property sales in England and Wales lodged for registration in May 2013. The most expensive sale in May 2013 was of a property located in Knightsbridge, central London which sold for £12.5 million. The cheapest sale in May 2013 is located in Hartlepool, and sold for £15,000.
Historical Price Paid Data from January 2009 to January 2012 can now be downloaded free of charge in csv format.
Access the full price paid dataset
ENDS
Notes to editors
- Market Trend Data is published on the twentieth working day of each month. The May House Price Index (HPI) and Transaction and Price Paid data sets will be published at 11am on Friday 26 July 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.
- 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 Land Registry 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 HPI is now available as Open Data in Excel and CSV formats and will be published in machine readable format as linked data from July 2013.
- 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.
- Historical Price Paid Data from January 2009 to January 2012 can now be downloaded free of charge in csv format.
- For historical Price Paid Data from 1995 to 2008, email addvalueservices@landregistry.gsi.gov.uk or ring 0800 678 1678. There is a charge for these reports although they will be available to download free of charge by November 2013.
Contact
- Marion Shelley: 0300 0067543, 07790 690297, marion.shelley@landregistry.gsi.gov.uk
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