January Market Trend Data from Land Registry
- January house prices up 1.0 per cent since December: average house price in England and Wales now £168,356
- 1,162 repossessions in England & Wales during November 2013
- South East tops the table of regional applications with 322,079 in January
- Over 92,200 residential properties in England and Wales lodged for registration in January ranging from £10,000 to £28.5 million
The January data from Land Registry's House Price Index shows an annual price increase of 4.2 per cent which takes the average property value in England and Wales to £168,356. The monthly change from December to January shows an increase of 1.0 per cent. Repossession volumes decreased by 33 per cent in November 2013 to 1,162 compared with 1,722 in November 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 10.9 per cent.
- The North East experienced the greatest monthly rise with a movement of 2.6 per cent.
- No regions experienced an annual price fall.
- Yorkshire & The Humber saw the most significant monthly price fall with a movement of -1.4 per cent.
- The most up-to-date figures available show that during November 2013 the number of completed house sales in England & Wales increased by 23 per cent to 78,358 compared with 63,953 in November 2012.
- The number of properties sold in England and Wales for over £1 million in November 2013 increased by 45 per cent to 985 from 677 in November 2012.
- The region with the greatest fall in the number of repossession sales was the East.
Access the full dataset Download the full January 2014 HPI report (PDF) Search the House Price Index About the House Price Index
| Region | Monthly change (since December 2013) | Annual change(since January 2013) | Average price(January 2014) |
|---|---|---|---|
|
North East |
2.6% |
1.9% |
£98,292 |
|
South East |
2.2% |
6.4% |
£223,128 |
|
London |
2.1% |
10.9% |
£409,881 |
|
England and Wales |
1.0% |
4.2% |
£168,356 |
|
East |
0.9% |
4.8% |
£182,263 |
|
East Midlands |
0.8% |
4.8% |
£127,344 |
|
West Midlands |
0.5% |
2.0% |
£132,068 |
|
Wales |
0.4% |
0.8% |
£116,894 |
|
South West |
0.3% |
2.6% |
£176,308 |
|
North West |
-0.7% |
2.6% |
£108,845 |
|
Yorkshire and The Humber |
-1.4% |
0.3% |
£114,910 |
Average price by property type
| Average price by property type (England & Wales) | January 2014 | January 2013 | Difference |
|---|---|---|---|
|
Detached |
£267,590 |
£255,800 |
4.6% |
|
Semi-detached |
£159,855 |
£153,405 |
4.2% |
|
Terraced |
£125,901 |
£121,492 |
3.6% |
|
Flat/maisonette |
£160,152 |
£153,654 |
4.2% |
|
All |
£168,356 |
£161,633 |
4.2% |
Sales volumes 2011-2012
| Month | Sales 2012 (England & Wales) |
Sales 2011 (England & Wales) |
Difference |
|---|---|---|---|
|
January |
43,780 |
37,661 |
16% |
|
February |
44,868 |
39,707 |
13% |
|
March |
61,366 |
46,791 |
31% |
|
April |
43,275 |
50,809 |
-15% |
|
May |
52,543 |
49,028 |
7% |
|
June |
59,880 |
57,785 |
4% |
|
July |
59,159 |
62,364 |
-5% |
|
August |
65,029 |
64,468 |
1% |
|
September |
52,881 |
63,607 |
-17% |
|
October |
59,225 |
58,060 |
2% |
|
November |
63,953 |
60,435 |
6% |
|
December |
56,680 |
63,651 |
-11% |
|
Total |
662,639 |
654,366 |
1% |
Sales volumes 2012-2013
| Month | Sales 2013 (England & Wales) |
Sales 2012 (England & Wales) |
Difference |
|---|---|---|---|
|
January |
43,330 |
43,780 |
-1% |
|
February |
45,184 |
44,868 |
1% |
|
March |
54,595 |
61,366 |
-11% |
|
April |
50,886 |
43,275 |
18% |
|
May |
66,126 |
52,543 |
26% |
|
June |
65,703 |
59,880 |
10% |
|
July |
73,225 |
59,159 |
24% |
|
August |
78,671 |
65,029 |
21% |
|
September |
68,687 |
52,881 |
30% |
|
October |
74,741 |
59,225 |
26% |
|
November |
78,358 |
63,953 |
23% |
Repossessions by region
| Repossessions by region | November 2013 | November 2012 | Difference |
|---|---|---|---|
|
East |
70 |
159 |
-56% |
|
East Midlands |
112 |
136 |
-18% |
|
London |
109 |
182 |
-40% |
|
North East |
31 |
48 |
-35% |
|
North West |
278 |
378 |
-26% |
|
South East |
135 |
209 |
-35% |
|
South West |
66 |
89 |
-26% |
|
Wales |
99 |
145 |
-32% |
|
West Midlands |
97 |
135 |
-28% |
|
Yorkshire & The Humber |
165 |
241 |
-32% |
|
All |
1,162 |
1,722 |
-33% |
The Price Paid Data includes details of over 92,200 residential property sales in England and Wales lodged for registration in January 2014. The most expensive sale in January 2014 was of a flat located in the London borough of Kensington and Chelsea which sold for £13 million. The cheapest sale in January 2014 was located in Stanley, County Durham and sold for £10,000.
Access the full price paid dataset
The Transaction Data shows Land Registry completed over 1,404,840 applications from its customers in January. This includes 1,350,818 applications by account customers, of which 362,570 were applications in respect of registered land (dealings); 597,974 were applications to obtain an official copy of a register or title plan; 182,835 were searches and 103,208 were transactions for value.
Access the full transaction dataset
Transactions for value
| Top three customers | Transactions for value |
|---|---|
|
Olswang LLP |
7,592 |
|
My Home Move Limited |
2,045 |
|
Countrywide Property Lawyers |
979 |
Searches
| Top three customers | Searches |
|---|---|
|
Enact |
8,255 |
|
Optima Legal Services |
5,904 |
|
Breeze Wyles |
4,070 |
Applications by region
| Region | Applications |
|---|---|
|
South East |
322,079 |
|
Greater London |
264,472 |
|
North West |
158,470 |
|
South West |
138,679 |
|
West Midlands |
114,701 |
|
Yorks & Humber |
109,791 |
|
East Midlands |
101,241 |
|
North |
70,339 |
|
Wales |
66,005 |
|
East Anglia |
58,943 |
|
England & Wales (not assigned) |
64 |
|
Isles of Scilly |
59 |
|
Total |
1,404,843 |
ENDS
Notes to editors
- Market Trend Data is published on the twentieth working day of each month. The February House Price Index (HPI) and Transaction and Price Paid data sets will be published at 9.30am on Friday 28 March 2014. Access the release calendar up to October 2014.
- 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 available as Open data in Excel and CSV formats and in machine readable format as linked data.
- 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.
- 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.
- 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.
- 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
marion.shelley@landregistry.gsi.gov.uk
