March 2016 Market Trend Data
Land Registry's monthly Market Trend Data for residential property prices in England and Wales.
The March data shows an annual price increase of 6.7%, which takes the average property value in England and Wales to £189,901. Monthly house prices have fallen by 0.5% since February 2016.
The regional data indicates that:
- London experienced the greatest increase in its average property value over the last 12 months with a movement of 13.9%
- London and the East experienced the only monthly growth, each with an increase of 0.2%
- the North East saw the only annual price fall with a movement of -0.7%
- Yorkshire and The Humber saw the most significant monthly price fall with a decrease of 2.6%
Sales and repossessions during January 2016, the most up-to-date figures available, show that:
- the number of completed house sales in England and Wales fell by 5% to 54,254 compared with 56,937 in January 2015
- the number of properties sold in England and Wales for more than £1 million increased by 2% to 938 from 916 a year earlier
- repossessions in England and Wales fell by 51% to 322 compared with 657 in January 2015
- the region with the greatest fall in the number of repossession sales was London with a fall of 72% from January 2015
Access the full March HPI report.
Price change by region
|Region||Monthly change since February 2016||Annual change since March 2015||Average price March 2016|
|England and Wales||-0.5%||6.7%||£189,901|
|Yorkshire and The Humber||-2.6%||1.6%||£121,841|
Average price by property type 2016 to 2015
|Average price by property type (England and Wales)||March 2016||March 2015||Difference|
Sales volumes 2015 to 2014
England and Wales
England and Wales
Sales volumes 2016 to 2015
England and Wales
England and Wales
Repossessions by region 2016 to 2015
|Repossessions by region||January 2016||January 2015||Difference|
|Yorkshire and The Humber||42||90||-53%|
|England and Wales||322||657||-51%|
Access March Price Paid Data.
Notes to editors
The March House Price Index (HPI) report is the last in this series. However, Price Paid Data (PPD) will continue to be published on the 20th working day of each month. The April PPD will be published at 11am on Tuesday 31 May 2016.
The HPI is being replaced by a single UK House Price Index. The new statistics for April 2016 will be published at 9.30am on Tuesday 14 June, replacing the existing indices published separately by Land Registry and the Office for National Statistics (ONS).
An article published by ONS presents historic time series for the new index, comparing the new estimates with existing estimates of average house prices and house price growth.
A calendar with release dates of the new UK HPI is available.
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 single residential property sales completed in England and Wales since January 1995 subject to exclusions
Land Registry’s dataset contains details on more than 20 million residential transactions. Of these, more than 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 been recording repossessions comprehensively only since 2006. This means that historic repossession data is not available prior to January 2006. Read more information about repossessions data.
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).
- Price Paid Data is property price data for all the property sales in England and Wales that are lodged with us for registration in that month.
The following information is available for each property:
- full address
- price paid
- date of transfer
- property type
- whether it is new build or not
- whether it is freehold or leasehold
Price Paid Data can be downloaded in txt and CSV formats 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.
- Price Paid Data includes Standard Price Paid Data (SPPD) for single residential property sales at full market value and Additional Price Paid Data (APPD) for transactions previously excluded from SPPD such as:
- transfers to a non-private individual, for example a company, corporate body or business
- transfers under a power of sale (repossessions)
- buy-to-lets (where they can be identified by a mortgage)
The information available for each property indicates whether it is APPD or SPPD and the record’s status - addition/change/deletion (A/C/D).
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 more than 24 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.gov.uk/land-registry
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Published: 28 April 2016
From: HM Land Registry