December Market Trend Data from Land Registry
- December house prices up 1.1 per cent since November: average house price in England and Wales now £167,353
- 1,129 repossessions in England & Wales during October 2013
- South East tops the table of regional applications with 256,440 in December
- Over 76,500 residential properties in England and Wales lodged for registration in December ranging from £10,500 to over £19 million
The December data from Land Registry's House Price Index shows an annual price increase of 4.4 per cent which takes the average property value in England and Wales to £167,353. The monthly change from November to December shows an increase of 1.1 per cent. Repossession volumes decreased by 31 per cent in October 2013 to 1,129 compared to 1,636 in October 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 11.2 per cent
- London also experienced the greatest monthly rise with a movement of 2.6 per cent.
- The only region with an annual price fall is the North East with a decrease of 0.1 per cent.
- Yorkshire & The Humber saw the most significant monthly price fall with a movememt of -1.2 per cent.
- The most up-to-date figures available show that during October 2013 the number of completed house sales in England & Wales increased by 21 per cent to 71,929 compared with 59,213 in October 2012.
- The number of properties sold in England and Wales for over £1 million in October 2013 increased by 40 per cent to 913 from 651 in October 2012.
- The region with the greatest fall in the number of repossession sales were the East Midlands and the South West.
Download the full December 2013 HPI report (PDF, 443KB) Access the full dataset Search the House Price Index About the House Price Index
| Region | Monthly change (since November 2013) | Annual change(since December 2012) | Average price(December 2013) |
|---|---|---|---|
| London |
2.6% |
11.2% |
£403,792 |
|
South East |
1.8% |
5.9% |
£220,509 |
|
East |
1.4% |
5.2% |
£180,690 |
|
East Midlands |
1.4% |
4.1% |
£126,939 |
|
North East |
1.3% |
-0.1% |
£97,596 |
| England and Wales |
1.1% |
4.4% |
£167,353 |
|
South West |
1.0% |
3.6% |
£176,783 |
| North West |
0.3% |
1.7% |
£110,008 |
|
Wales |
0.0% |
3.5% |
£118,268 |
|
West Midlands |
-0.6% |
3.2% |
£131,800 |
|
Yorkshire and The Humber |
-1.2% |
0.5% |
£116,012 |
Average price by property type
| Average price by property type (England & Wales) | December 2013 | December 2012 | Difference |
|---|---|---|---|
|
Detached |
£263,040 |
£251,925 |
4.4% |
|
Semi-detached |
£158,771 |
£152,192 |
4.3% |
|
Terraced |
£125,675 |
£121,391 |
3.5% |
|
Flat/maisonette |
£159,900 |
£151,158 |
5.8% |
|
All |
£167,353 |
£160,291 |
4.4% |
Sales volumes 2011-2012
| Month | Sales 2012 (England & Wales) |
Sales 2011 (England & Wales) |
Difference | |
|---|---|---|---|---|
|
January |
43,777 |
37,661 |
16% | |
|
February |
44,865 |
39,709 |
13% | |
|
March |
61,365 |
46,787 |
31% | |
|
April |
43,269 |
50,809 |
-15% | |
|
May |
52,536 |
49,027 |
7% |
|
|
June |
59,876 |
57,784 |
4% | |
|
July |
59,153 |
62,362 |
-5% | |
|
August |
65,022 |
64,472 |
1% | |
|
September |
52,873 |
63,604 |
-17% | |
|
October |
59,213 |
58,053 |
2% | |
|
November |
63,945 |
60,429 |
6% | |
|
December |
56,657 |
63,650 |
-11% | |
|
Total |
662,551 |
654,347 |
1% |
Sales volumes 2012-2013
| Month | Sales 2013 (England & Wales) |
Sales 2012 (England & Wales) |
Difference |
|---|---|---|---|
|
January |
43,298 |
43,777 |
-1% |
|
February |
45,162 |
44,865 |
1% |
|
March |
54,546 |
61,365 |
-11% |
|
April |
50,819 |
43,269 |
17% |
|
May |
66,022 |
52,536 |
26% |
|
June |
65,477 |
59,876 |
9% |
|
July |
72,900 |
59,153 |
23% |
|
August |
77,975 |
65,022 |
20% |
|
September |
67,224 |
52,873 |
27% |
|
October |
71,929 |
59,213 |
21% |
Repossessions by region
| Repossessions by region | October 2013 | October 2012 | Difference |
|---|---|---|---|
|
East |
98 |
133 |
-26% |
|
East Midlands |
93 |
153 |
-39% |
|
London |
102 |
148 |
-31% |
|
North East |
36 |
40 |
-10% |
|
North West |
252 |
367 |
-31% |
|
South East |
131 |
202 |
-35% |
|
South West |
60 |
98 |
-39% |
|
Wales |
105 |
114 |
-8% |
|
West Midlands |
87 |
130 |
-33% |
|
Yorkshire & The Humber |
165 |
251 |
-34% |
|
England & Wales |
1,129 |
1,636 |
-31% |
The Price Paid Data includes details of over 76,500 residential property sales in England and Wales lodged for registration in December 2013. The most expensive sale in December 2013 was of a property located in the London borough of Kensington and Chelsea which sold for £15 million. The cheapest sale in December 2013 is located in Holmfirth, West Yorkshire and sold for £15,000.
Access the full price paid dataset
The Transaction Data shows Land Registry completed over 1,101,730 applications from its customers (account and non-account) in December. This includes applications by account customers, of which 302,502 were applications in respect of registered land (dealings); 410,489 were applications to obtain an official copy of a register or title plan; 181,847 were searches and 73,619 were transactions for value.
Access the full transaction dataset
Transactions for value
| Top three customers | Transactions for value |
|---|---|
|
My Home Move Limited |
1,721 |
|
O'Neill Patient |
701 |
|
Countrywide Property Lawyers |
697 |
Searches
| Top three customers | Searches |
|---|---|
|
Enact |
7,508 |
| T M Group (UK) Ltd (Search Choice) |
5,621 |
|
Optima Legal Services |
5,224 |
Applications by region
| Region | Applications |
|---|---|
|
South East |
256,440 |
|
Greater London |
201,569 |
|
North West |
118,778 |
|
South West |
113,074 |
|
West Midlands |
90,368 |
|
Yorks & Humber |
86,757 |
|
East Midlands |
82,110 |
|
Wales |
53,407 |
|
North |
53,305 |
|
East Anglia |
45,801 |
|
England & Wales (not assigned) |
87 |
|
Isles of Scilly |
35 |
|
Total |
1,101,731 |
ENDS
Notes to editors
- Market Trend Data is published on the twentieth working day of each month. The January House Price Index (HPI) and Transaction and Price Paid data sets will be published at 9.30am on 28 February 2014. Access the release calendar up to October 2014.
- 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.
- 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
Ronal Patel 0300 006 7490, 07768 644685
ronal.patel@landregistry.gsi.gov.uk
