Press release

August 2014 Market Trend Data

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

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  • Average house price in England and Wales now £177,824 compared with the peak of £181,383 in November 2007
  • Annual growth of 8.4 per cent in August
  • House prices up 1.0 per cent since July
  • 794 repossessions in England & Wales during June 2014
  • Over 82,600 residential properties in England and Wales lodged for registration in August ranging from £13,000 to £19.5m

The August data from Land Registry’s House Price Index shows an annual price increase of 8.4 per cent which takes the average property value in England and Wales to £177,824. House prices up 1.0 per cent since July. Repossession volumes decreased by 36 per cent in June 2014 to 794 compared with 1,238 in June 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 21.6 per cent.
  • London also experienced the greatest monthly rise with a movement of 2.7 per cent.
  • North East saw the lowest annual price growth with a movement of 3.0 per cent.
  • Both South West and North West saw the most significant monthly price fall of 0.1 per cent.
  • The most up-to-date figures available show that during June 2014 the number of completed house sales in England & Wales increased by 11 per cent to 73,158 compared with 66,123 in June 2013.
  • The number of properties sold in England and Wales for over £1 million in June 2014 increased by 34 per cent to 1,135 from 848 in June 2013.
  • The region with the greatest fall in repossession sales in June 2014 was the East.

Access the full August HPI report

Region Monthly change since July 2014 Annual change since August 2013 Average price August 2014
London 2.7% 21.6% £467,070
South East 1.7% 11.6% £238,119
Yorks and Humber 1.6% 4.0% £121,466
East 1.5% 10.6% £195,463
England and Wales 1.0% 8.4% £177,824
East Midlands 0.7% 5.9% £131,171
North East 0.6% 3.0% £100,781
Wales 0.4% 3.4% £118,814
West Midlands 0.2% 4.4% £135,637
North West 0.1% 4.2% £113,269
South West 0.1% 5.8% £183,991

Average price by property type 2014 to 2013

Average price by property type (England and Wales) August 2014 August 2013 Difference (%)
Detached £278,003 £258,615 7.5%
Semi-detached £166,667 £155,407 7.2%
Terraced £134,594 £124,140 8.4%
Flat/maisonette £171,975 £155,137 10.9%
All £177,824 £164,116 8.4%

Sales volumes 2013 to 2012

Month Sales 2013 England and Wales Sales 2012 England and Wales Difference
January 43,392 43,787 -1%
February 45,260 44,875 1%
March 54,732 61,380 -11%
April 51,033 43,283 18%
May 66,334 52,563 26%
June 66,123 59,902 10%
July 73,723 59,191 25%
August 79,544 65,060 22%
September 69,969 52,898 32%
October 77,244 59,258 30%
November 83,511 64,009 30%
December 80,225 56,736 41%
Total 791,090 662,942 19%

Sales volumes 2014 to 2013

Month Sales 2014 England and Wales Sales 2013 England and Wales Difference
January 65,856 43,392 52%
February 65,412 45,260 45%
March 67,494 54,732 23%
April 69,838 51,033 37%
May 75,213 66,334 13%
June 73,158 66,123 11%

Repossessions by region 2014 to 2013

Repossessions by region June 2014 June 2013 Difference
East 52 107 -51%
East Midlands 68 121 -44%
London 71 105 -32%
North East 29 38 -24%
North West 196 291 -33%
South East 90 155 -42%
South West 55 75 -27%
Wales 60 80 -25%
West Midlands 75 95 -21%
Yorkshire & The Humber 98 171 -43%
All 794 1,238 -36%

The Price Paid Data includes details of over 82,600 residential property sales in England and Wales lodged for registration in August 2014. The most expensive sale in August 2014 was located in Chelsea, London SW3 and sold for £17,750,000. The cheapest sale in August 2014 was located in Middlesbrough, North Yorkshire and sold for £16,400.

Access the full dataset

Notes to editors

  1. Market Trend Data is published on the twentieth working day of each month. The September House Price Index (HPI) will be published at 9.30am on Tuesday 28 October 2014. The Price Paid data is published at 11am on the same day.

  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 is now available on the fifteenth working day of the month. The September transaction dataset will be published on Tuesday 21 October 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 19 million residential transactions. Of these, over 7 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 around 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
Head Office
Trafalgar House

1 Bedford Park
Croydon
CR0 2AQ

Published 26 September 2014