Press release

March 2015 Market Trend Data

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

Heatmap of March HPI

The March data shows an annual price increase of 5.3 per cent which takes the average property value in England and Wales to £178,007 compared with the peak of £181,049 in November 2007. House prices are down 0.8 per cent since February.

The regional data indicates that:

  • London experienced the greatest increase in its average property value over the last 12 months with a movement of 11.3 per cent
  • South East experienced the greatest monthly rise with a movement of 0.8 per cent
  • North East saw the only annual price fall with a decrease of 2.9 per cent
  • North East also saw the largest monthly price decrease with a fall of 4 per cent

Sales and repossessions during January 2015, the most up-to-date figures available, show that:

  • the number of completed house sales in England & Wales decreased by 18 per cent to 53,168 compared with 65,175 in January 2014
  • the number of properties sold in England and Wales for over £1 million decreased by 19 per cent to 851 from 1,049 a year earlier
  • repossessions in England and Wales decreased by 45 per cent to 590 compared with 1,081 in January 2014
  • London was the region with the greatest fall in repossession sales

Access the full March HPI report

Region Monthly change since February 2015 Annual change since March 2014 Average price March 2015
South East 0.8% 10.1% £243,512
London 0.2% 11.3% £462,799
East Midlands -0.2% 4.2% £133,063
Yorkshire and The Humber -0.2% 3.3% £120,914
West Midlands -0.2% 2.8% £136,761
South West -0.7% 3.8% £185,162
England and Wales -0.8% 5.3% £178,007
North West -0.9% 2.2% £111,149
East -1.2% 8.4% £199,133
Wales -2.9% 2.7% £117,828
North East -4.0% -2.9% £97,444

Average price by property type 2015 to 2014

Average price by property type (England and Wales) March 2015 March 2014 Difference
Detached £281,950 £266,002 6.0%
Semi-detached £169,194 £159,407 6.1%
Terraced £133,911 £126,998 5.4%
Flat/maisonette £168,647 £162,858 3.6%
All £178,007 £168,980 5.3%

Sales volumes 2014 to 2013

Month Sales 2014 England and Wales Sales 2013 England and Wales Difference
January 65,175 43,404 50%
February 64,982 45,276 44%
March 67,295 54,742 23%
April 70,176 51,055 37%
May 77,374 66,366 17%
June 80,580 66,163 22%
July 84,401 73,740 14%
August 87,458 79,473 10%
September 78.198 69,713 12%
October 85,317 76,636 11%
November 71,558 82,823 -14%
December 74,316 79,589 -7%
Total 906,830 788,980 15%

Sales volumes 2015 to 2014

Month Sales 2015 England and Wales Sales 2014 England and Wales Difference
January 53,168 65,175 -18%

Repossessions by region 2015 to 2014

Repossessions by region January 2015 January 2014 Difference
East 34 71 -52%
East Midlands 56 99 -43%
London 65 138 -53%
North East 23 28 -18%
North West 128 252 -49%
South East 57 117 -51%
South West 39 65 -40%
Wales 59 86 -31%
West Midlands 42 71 -41%
Yorkshire & The Humber 87 154 -44%
All 590 1,081 -45%

The Price Paid Data includes details of over 68,770 residential property sales in England and Wales lodged for registration in March 2015. The most expensive sale in March 2015 was in London W14 (£15,750,000). The cheapest sale in March 2015 was in Bridgend, Wales (£12,000).

Access the full dataset

Notes to editors

  1. Market Trend Data is published on the twentieth working day of each month. The April House Price Index (HPI) will be published at 9.30am on Monday 1 June 2015. 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 https://www.gov.uk/government/publications/about-the-house-price-index

  3. 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.

  4. 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.

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

  6. 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.

  7. 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.

  8. 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).

  9. 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
  10. 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.

  11. 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.

  12. 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.

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

  14. 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 30 April 2015