Press release

April 2014 Market Trend Data

Land Registry's Market Trend Data for England and Wales.

Land Registry: Croydon
  • April house prices up 1.5 per cent since March 2014
  • April house prices up 6.7 per cent since April 2013
  • Average house price in England and Wales now £172,069 compared with the peak of £181,572 in November 2007
  • 936 repossessions in England and Wales during February 2014
  • Over 69,830 residential properties in England and Wales lodged for registration in April ranging from £8,000 to £27.9m

The April data from Land Registry’s House Price Index shows an annual price increase of 6.7 per cent which takes the average property value in England and Wales to £172,069. The monthly change from March to April shows an increase of 1.5 per cent. Repossession volumes decreased by 33 per cent in February 2014 to 936 compared with 1,387 in February 2013.

  • 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 17 per cent
  • London also experienced the greatest monthly rise with a movement of 4.2 per cent
  • North East saw the lowest annual price growth with a movement of 2.9 per cent
  • North East also experienced the only monthly price fall of 1.9 per cent
  • The most up-to-date figures available show that during February 2014 the number of completed house sales in England and Wales increased by 38 per cent to 62,368 compared with 45,236 in February 2013
  • The number of properties sold in England and Wales for over £1 million in February 2014 increased by 65 per cent to 836 from 507 in February 2013
  • The region with the greatest fall in repossession sales in February 2014 was the East Midlands
Region Monthly change since March 2014 Annual change since April 2013 Average price April 2014
London 4.2% 17% £435,034
North West 3.0% 3.8% £112,064
Wales 2.9% 3.0% £117,581
Yorks and The Humber 2.3% 5.5% £120,118
South East 1.9% 7.5% £225,650
East 1.9% 7.8% £187,963
England and Wales 1.5% 6.7% £172,069
West Midlands 1.2% 5.7% £135,150
East Midlands 0.8% 6.4% £128,988
South West 0.2% 3.8% £178,918
North East -1.9% 2.9% £99,001

Average price by property type

Average price by property type (England and Wales) April 2014 April 2013 Difference
Detached £269,666 £255,125 5.7%
Semi-detached £162,059 £153,064 5.9%
Terraced £129,329 £122,087 5.9%
Flat/maisonette £166,952 £151,764 10%
All £172,069 £161,259 6.7%

Sales volumes 2014 to 2013

Month Sales 2013 England and Wales Sales 2012 England and Wales Difference
January 43,384 43,784 -1%
February 45,236 44,874 1%
March 54,697 61,377 -11%
April 50,984 43,278 18%
May 66,266 52,558 26%
June 66,018 59,893 10%
July 73,595 59,176 24%
August 79,340 65,044 22%
September 69,714 52,894 32%
October 76,832 59,242 30%
November 82,787 63,989 29%
December 78,892 56,716 39%
Total 787,745 662,825 19%

Sales volumes 2014 to 2013

Month Sales 2014 England and Wales Sales 2013 England and Wales Difference
January 64,271 43,384 48%
February 62,368 45,236 38%

Repossessions by region

Repossessions by region February 2014 February 2013 Difference
East 63 102 -38%  
East Midlands 81 135 -40%
London 91 130 -30%
North East 36 45 -20%
North West 216 343 -37%
South East 109 167 -35%
South West 47 76 -38%
Wales 83 98 -15%
West Midlands 86 102 -16%
Yorkshire and The Humber 124 189 -34%
All 936 1,387 -33%

The Price Paid Data includes details of over 69 ,830 residential property sales in England and Wales lodged for registration in April 2014. The most expensive sale in April 2014 was located in the London borough of Kensington and Chelsea which sold for £24m. The cheapest sale in April 2014 was located in Auckland, Co Durham and sold for £12,000.

Access the full dataset

Notes to editors

  1. Market Trend Data is published on the twentieth working day of each month. The June House Price Index (HPI) and Price Paid data set will be published at 9.30am on Monday 27 June 2014.

  2. A calendar with release dates of the headline figure and the full HPI is available at www.gov.uk/government/publications/about-the-house-price-index.

  3. Publication of the Transaction Data has moved so that it is now available on the fifteenth working day of the month. This means that the June transaction dataset will be published on 20 June 2014 at 11am.

  4. 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.

  5. 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.

  6. The adjusted headline statistics for England and Wales on p14 of the monthly HPI report include additional repossession data.

  7. 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.

  8. 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. See About the House Price Index for more information.

  9. HPI background tables are available as Open Data in Excel and CSV formats and in machine readable format as linked data. They are available for free use and re-use under the Open Government Licence (OGL).

  10. 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

  11. Price Paid Data can be downloaded in CSV format and in a machine readable format as linked data. It is available for anyone to examine or re-use free of charge under the OGL.

  12. 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.

  13. With the largest transactional database of its kind detailing almost 24 million titles, Land Registry underpins the economy by safeguarding ownership of many billions of pounds worth of property.

  14. For further information about Land Registry visit www.gov.uk/land-registry.

  15. Follow us on Twitter @LandRegGov, our blog, LinkedIn and Facebook.

Contact

Senior Press Officer

Marion Shelley
Trafalgar House
1 Bedford Park
Croydon
CR0 2AQ

Published 30 May 2014