June house prices - no change since May: average house price in England and Wales now £161,479

(PR12/11) 28/07/2011

June house prices - no change since May: average house price in England and Wales now £161,479

The June data from Land Registry's flagship House Price Index shows an annual price decrease of -2.5 per cent which takes the average property value in England and Wales to £161,479. The monthly change from May to June is 0.0 per cent.

The only region in England and Wales to experience an increase in its average property value over the last 12 months is London with a movement of 0.8 per cent. Wales experienced the greatest monthly rise with a movement of 2.8 per cent. The North East experienced both the greatest annual price fall with a decrease of -7.1 per cent and the most significant monthly price fall with a movement of -2.1 per cent.

The most up-to-date figures available show that during April 2011, the number of completed house sales in England and Wales decreased by -7 per cent to 48,704 from 52,272 in April 2010. The number of properties sold in England and Wales for over £1 million increased by 45 per cent between April 2010 and April 2011, from 549 to 798.

For more information go to www.landregistry.gov.uk/public/house-prices-and-sales

Region	Monthly change (since May 2011)	Annual change (since June 2010)	Average price (June 2011)
Wales	2.8%	-4.4%	£120,480
South East	1.3%	-0.7%	£208,283
West Midlands	1.1%	-1.3%	£133,183
East	0.3%	-2.6%	£172,279
England & Wales	0.0%	-2.5%	£161,479
London	-0.1%	0.8%	£339,480
East Midlands	-0.4%	-2.9%	£125,219
Yorkshire & The Humber	-0.7%	-3.5%	£121,674
North West	-1.0%	-5.2%	£113,048
South West	-1.0%	-2.9%	£171,726
North East	-2.1%	-7.1%	£101,440

Average prices by property type (England and Wales)	June 2011	June 2010	Difference (%)
Detached	£254,440	£259,363	-1.9%
Semi-detached	£153,877	£156,522	-1.7%
Terraced	£121,819	£127,221	-4.2%
Flat/maisonette	£151,880	£154,830	-1.9%
All	£161,479	£165,679	-2.5%

Month	Sales 2010 (England and Wales)	Sales 2009 (England and Wales)	Difference (%)
January	35,833	26,279	36%
February	42,531	27,282	56%
March	51,401	35,536	45%
April	52,272	39,358	33%
May	52,160	45,873	14%
June	62,694	54,795	14%
July	67,434	63,677	6%
August	61,390	58,350	5%
September	57,365	58,520	-2%
October	58,489	65,818	-11%
November	56,130	61,135	-8%
December	56,545	78,511	-28%
Total	654,244	615,134	6%

Month	Sales 2011 (England and Wales)	Sales 2010 (England and Wales)	Difference (%)
January	37,309	35,833	4%
February	39,192	42,531	-8%
March	45,725	51,401	-11%
April	48,704	52,272	-7%

ENDS

Notes to editors

Since 2006, Land Registry's House Price Index (HPI), which is available free at www.landregistry.gov.uk/public/house-prices-and-sales has gathered its own momentum to become a leading indicator of property movement within England and Wales. It is widely viewed as "the most accurate barometer of the housing market".
The HPI is published on the twentieth working day of each month. The July Index will be published at 11am on Friday 26 August 2011.
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.
With the largest transactional database of its kind detailing over 22 million titles, Land Registry underpins the economy by safeguarding ownership of many billions of pounds worth of property.
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.
For further information about Land Registry visit www.landregistry.gov.uk

Contacts

Marion Shelley 0300 0067543, 07790 690297
marion.shelley@landregistry.gsi.gov.uk