28 September 2012
PR15/12
August Market Trend Data from Land Registry
- No change in August house prices since July: average house price in England and Wales now £163,376
- South East tops the table of regional applications with 255,424 in August
- Over 65,400 residential properties in England and Wales lodged for registration in August
The August data from Land Registry's flagship House Price Index shows an annual price increase of 0.7 per cent which takes the average property value in England and Wales to £163,376. There is no increase in the monthly change from July to August.
- 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 5.0 per cent.
- The North East experienced the greatest monthly rise with an increase of 0.8 per cent.
- Wales experienced the greatest annual price fall with a decrease of 3.2 per cent.
- Wales also saw the most significant monthly price fall with a decrease of 2.4 per cent.
- The most up-to-date figures available show that during June 2012, the number of completed house sales in England and Wales decreased by 3 per cent to 56,077 compared with 57,702 in June 2011.
- The number of properties sold in England and Wales for over £1 million in June 2012 increased by 35 per cent to 647 from 478 in June 2011.
House Price Index
| Region | Monthly change (since July 2012) | Annual change (since August 2011) | Average price (August 2012) |
|---|---|---|---|
| North East | 0.8% | -3.0% | £100,934 |
| South West | 0.7% | 1.0% | £173,448 |
| East Midlands | 0.7% | 0.6% | £125,171 |
| North West | 0.4% | -2.5% | £110,656 |
| South East | 0.4% | 2.0% | £211,050 |
| Yorkshire & The Humber | 0.2% | -1.4% | £119,178 |
| London | 0.0% | 5.0% | £364,059 |
| England & Wales | 0.0% | 0.7% | £163,376 |
| West Midlands | 0.0% | 0.1% | £130,533 |
| East | -0.3% | 1.0% | £175,145 |
| Wales | -2.4% | -3.2% | £115,887 |
Average price by property type (England and Wales) | August 2012 | August 2011 | Difference |
|---|---|---|---|
| Detached | £255,562 | £255,531 | - |
| Semi-detached | £154,774 | £153,337 | 0.9% |
| Terraced | £125,329 | £123,484 | 1.5% |
| Flat/maisonette | £152,023 | £151,408 | 0.4% |
| All | £163,376 | £162,172 | 0.7% |
| Month | Sales 2011 (England and Wales) | Sales 2010 (England and Wales) | Difference |
|---|---|---|---|
| January | 37,619 | 35,886 | 5% |
| February | 39,683 | 42,582 | -7% |
| March | 46,753 | 51,479 | -9% |
| April | 50,742 | 52,347 | -3% |
| May | 48,979 | 52,242 | -6% |
| June | 57,702 | 62,788 | -8% |
| July | 62,289 | 67,553 | -8% |
| August | 64,394 | 61,533 | 5% |
| September | 63,512 | 57,524 | 10% |
| October | 57,926 | 58,687 | -1% |
| November | 60,284 | 56,367 | 7% |
| December | 63,473 | 56,921 | 12% |
| Total | 653,356 | 655,909 | 0% |
| Month | Sales 2012 (England and Wales) | Sales 2011 (England and Wales) | Difference |
|---|---|---|---|
| January | 43,591 | 37,619 | 16% |
| February | 44,629 | 39,683 | 12% |
| March | 60,828 | 46,753 | 30% |
| April | 42,674 | 50,742 | -16% |
| May | 51,282 | 48,979 | 5% |
| June | 56,077 | 57,702 | -3% |
Transaction Data
The Transaction Data shows Land Registry received over 1,100,000 applications from its customers (account and non-account) in August. This includes 1,044,299 applications by account customers, of which:
- 263,225 were applications in respect of registered land (dealings)
- 455,762 were applications to obtain an official copy of a register or title plan
- 157,067 were searches
- 70,820 were transactions for value.
| Top three customers | Transactions for value |
|---|---|
| Countrywide Property Lawyers | 1,552 |
| My Home Move Limited | 1,484 |
| O'Neill Patient | 974 |
| Top three customers | Searches |
|---|---|
| Optima Legal Services | 4,813 |
| Enact | 4,681 |
| T M Group UK Ltd (Search Choice) | 3,755 |
| Top three local authority areas | Applications |
|---|---|
| City of Westminster | 16,665 |
| Birmingham | 16,609 |
| Cornwall | 13,057 |
| Region | Applications |
|---|---|
| South East | 255,424 |
| Greater London | 195,383 |
| North West | 120,277 |
| South West | 113,088 |
| West Midlands | 92,400 |
| Yorks & Humber | 90,595 |
| East Midlands | 79,922 |
| Wales | 54,366 |
| North | 52,751 |
| East Anglia | 45,942 |
| England & Wales (not assigned) | 41 |
| Isles of Scilly | 31 |
| Total | 1,100,220 |
ENDS
Notes to editors
- Market Trend Data is published on the twentieth working day of each month.
- The September House Price Index (HPI) and Transaction and Price Paid data sets will be published at 11am on Friday 26 October 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 150th 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. 8.
- 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:
- 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 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
- Marion Shelley 0300 0067543, 07790 690297 marion.shelley@landregistry.gsi.gov.uk
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