October Market Trend Data from Land Registry
• October house prices down 0.2 per cent since September: average house price in England and Wales now £165,515
• 1,200 repossessions in England & Wales during August 2013
• South East tops the table of regional applications with 329,507 applications
• Over 82,200 residential properties in England and Wales lodged for registration in October ranging from £8,500 to £18,700,000
The October data from Land Registry's House Price Index shows an annual price increase of 3.1 per cent which takes the average property value in England and Wales to £165,515. The monthly change from September to October shows a decrease of 0.2 per cent. Repossession volumes decreased by 29 per cent in August 2013 to 1,200 compared to 1,682 in August 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 8.7 per cent
• Wales experienced the greatest monthly rise with a movement of 2.4 per cent.
• The region with the greates annual price fall is the North East with a decrease of 0.8 per cent.
• The North East also saw the most significant monthly price fall with a movememt of -3.1 per cent.
• The most up-to-date figures available show that during August 2013 the number of completed house sales in England & Wales increased by 15 per cent to 74,767 compared with 65,014 in August 2012
• The number of properties sold in England and Wales for over £1 million in August 2013 increased by 27 per cent to 1,104 from 871 in August 2012
• The region with the greatest fall in the number of repossession sales was the South East where repossessions dropped by 41 per cent (115 in August 2013 compared with 196 in August 2012)
Download the full October 2013 HPI report (PDF, 448KB) Access the full dataset Search the House Price Index About the House Price Index
| Region | Monthly change (since September 2013) | Annual change(since October 2012) | Average price(October2013) |
|---|---|---|---|
|
Wales |
2.4% |
0.3% |
£117,097 |
|
East |
0.6% |
3.2% |
£179,522 |
|
South West |
0.4% |
2.4% |
£174,645 |
|
East Midlands |
0.4% |
2.2% |
£124,580 |
|
West Midlands |
0.3% |
1.0% |
£130,231 |
|
London |
0.2% |
8.7% |
£390,720 |
|
England & Wales |
-0.2% |
3.1% |
£165,515 |
|
South East |
-0.3% |
4.0% |
£216,004 |
|
Yorkshire & The Humber |
-0.5% |
1.1% |
£117,450 |
|
North West |
-1.0% |
-0.7% |
£108,445 |
|
North East |
-3.1% |
-0.8% |
£96,179 |
Average price by property type
| Average price by property type (England & Wales) | October 2013 | October 2012 | Difference |
|---|---|---|---|
|
Detached |
£260,997 |
£253,867 |
2.8% |
|
Semi-detached |
£157,031 |
£152,748 |
2.8% |
|
Terraced |
£124,771 |
£121,367 |
2.8% |
|
Flat/maisonette |
£156,681 |
£150,702 |
4.0% |
|
All |
£165,515 |
£160,598 |
3.1% |
Sales volumes 2011-2012
| Month | Sales 2012 (England & Wales) |
Sales 2011 (England & Wales) |
Difference | |
|---|---|---|---|---|
|
January |
43,771 |
37,659 |
16% | |
|
February |
44,858 |
39,708 |
13% | |
|
March |
61,362 |
46,786 |
31% | |
|
April |
43,265 |
50,809 |
-15% | |
|
May |
52,529 |
49,021 |
7% |
|
|
June |
59,863 |
57,778 |
4% | |
|
July |
59,146 |
62,357 |
-5% | |
|
August |
65,014 |
64,468 |
1% | |
|
September |
52,864 |
63,604 |
-17% | |
|
October |
59,197 |
58,049 |
2% | |
|
November |
63,915 |
60,423 |
6% | |
|
December |
56,624 |
63,644 |
-11% | |
|
Total |
662,408 |
654,306 |
1% |
Sales volumes 2012-2013
| Month | Sales 2013 (England & Wales) |
Sales 2012 (England & Wales) |
Difference |
|---|---|---|---|
|
January |
43,266 |
43,771 |
-1% |
|
February |
45,098 |
44,858 |
1% |
|
March |
54,414 |
61,362 |
-11% |
|
April |
50,671 |
43,265 |
17% |
|
May |
65,676 |
52,529 |
25% |
|
June |
64,684 |
59,863 |
8% |
|
July |
71,459 |
59,146 |
21% |
|
August |
74,767 |
65,014 |
15% |
Repossessions by region
| Repossessions by region | August 2013 | August 2012 | Difference |
|---|---|---|---|
|
East |
98 |
136 |
-28% |
|
East Midlands |
97 |
146 |
-34% |
|
London |
108 |
143 |
-24% |
|
North East |
38 |
41 |
-7% |
|
North West |
292 |
411 |
-29% |
|
South East |
115 |
196 |
-41% |
|
South West |
77 |
96 |
-20% |
|
Wales |
103 |
139 |
-26% |
|
West Midlands |
101 |
156 |
-35% |
|
Yorkshire & The Humber |
171 |
218 |
-22% |
|
England & Wales |
1,200 |
1,682 |
-29% |
The Transaction Data shows Land Registry completed over 1,446,940 applications from its customers (account and non-account) in October. This includes 1,382 ,558 applications by account customers, of which 350,707 were applications in respect of registered land (dealings); 616,974 were applications to obtain an official copy of a register or title plan; 195,687 were searches and 71,086 were transactions for value.
Access the full transaction dataset
Transactions for value
| Top three customers | Transactions for value |
|---|---|
|
My Home Move Limited |
1,359 |
|
O'Neill Patient |
737 |
|
Countrywide Property Lawyers |
716 |
Searches
| Top three customers | Searches |
|---|---|
|
Enact |
9,322 |
|
Optima Legal Services |
6,313 |
|
Breeze and Wyles |
3,872 |
Applications by region
| Region | Applications |
|---|---|
|
South East |
329,507 |
|
Greater London |
262,731 |
|
North West |
159,189 |
|
South West |
143,173 |
|
West Midlands |
119,965 |
|
Yorks & Humber |
112,643 |
|
East Midlands |
111,504 |
|
Wales |
75,806 |
|
North |
72,145 |
|
East Anglia |
60,154 |
|
England & Wales (not assigned) |
89 |
|
Isles of Scilly |
39 |
|
Total |
1,446,945 |
The Price Paid Data includes details of over 82,200 residential property sales in England and Wales lodged for registration in October 2013. The most expensive sale in October 2013 was of a property located in the London borough of Kensington and Chelsea which sold for £18,700,000. The cheapest sale in October 2013 is located in Middlesbrough, Stockton-on-Tees and sold for £9,000.
Access the full price paid dataset
ENDS
Notes to editors
- Market Trend Data is published on the twentieth working day of each month. The November House Price Index (HPI) and Transaction and Price Paid data sets will be published at 9.30am on 31 December 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 for free or at a reduced cost.
- 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 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 over 18 million residential transactions. Of these, over 6.5 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 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.
- HPI background tables are now available as Open data in Excel and CSV formats and in machine readable format as linked data.
- The monthly Transaction Data shows how many applications for first registrations, leases, transfers of part, dealings, official copies and searches lodged by Land Registry account customers were completed. See an explanation of the terms used in the Transaction data.
- 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.
- Now comprising more than 18 million transactions (from January 1995 to October 2013) Price Paid Data can be downloaded in csv format and in a machine readable format as linked data at price paid data. It is available for anyone to examine or reuse free of charge under the OGL.
- For further information about Land Registry, visit www.landregistry.gov.uk. Follow us on Twitter @LandRegGov. Find us on LinkedIn, Facebook and our blog.
Contact
Marion Shelley
- 0300 006 7543,
- 07790 690297 and by
- email marion.shelley@landregistry.gsi.gov.uk
