The January data shows an annual price increase of 6.7 per cent which takes the average property value in England and Wales to £179,492 compared with the peak of £181,101 in November 2007. House prices are up 1.3 per cent since December.
The regional data indicates that:
London experienced the greatest increase in its average property value over the last 12 months with a movement of 12 per cent
the North West experienced the greatest monthly rise with a movement of 2.6 per cent
the North East saw the lowest annual price growth with a movement of 0.1 per cent
Yorkshire & The Humber saw the largest monthly price fall of 1.5 per cent
Sales and repossessions during November 2014, the most up-to-date figures available, show that:
the number of completed house sales in England & Wales decreased by 19 per cent to 68,107 compared with 83,726 in November 2013
the number of properties sold in England and Wales for over £1 million decreased by 18 per cent to 869 from 1,060 a year earlier
repossession volumes in England and Wales decreased by 47 per cent to 687 compared with 1,286 in November 2013
London was the region with the greatest fall in repossession sales
The Price Paid Data includes details of over 77,470 residential property sales in England and Wales lodged for registration in January 2015. The most expensive sale in January 2015 was in London SW1 (£11,300,250). The cheapest sale in January 2015 was in Pendle, Lancashire (£6,000).
Market Trend Data is published on the twentieth working day of each month. The February House Price Index (HPI) will be published at 9.30am on Friday 27 March 2015. Price Paid Data is published at 11am on the same day.
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 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.
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. See About the House Price Index for more information.
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. It is available for anyone to examine or re-use free of charge under the OGL.
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 open to public inspection since 1990.
With the largest transactional database of its kind detailing over 24 million titles, Land Registry underpins the economy by safeguarding ownership of many billions of pounds worth of property.