Press release

March 2016 Market Trend Data

Land Registry's monthly Market Trend Data for residential property prices in England and Wales.

air view of land

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
London 0.2% 13.9% £534,785
East 0.2% 10.7% £220,989
North West -0.1% 5.3% £116,018
East Midlands -0.3% 5.7% £140,219
South East -0.4% 10.3% £266,729
England and Wales -0.5% 6.7% £189,901
South West -0.9% 5.8% £197,085
Wales -0.9% 3.5% £122,221
North East -1.2% -0.7% £97,581
West Midlands -2.0% 3.1% £140,528
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
Detached £300,464 £280,077 7.3%
Semi-detached £178,746 £168,446 6.1%
Terraced £142,186 £133,858 6.2%
Flat/maisonette £184,656 £171,833 7.5%
All £189,901 £178,006 6.7%

Sales volumes 2015 to 2014

Month Sales 2015
England and Wales
Sales 2014
England and Wales
January 56,937 65,275 -13%
February 58,075 65,085 -11%
March 65,614 67,423 -3%
April 62,729 70,386 -11%
May 72,513 77,620 -7%
June 82,139 80,975 1%
July 90,416 84,781 7%
August 82,521 87,953 -6%
September 80,232 78,941 2%
October 88,362 86,495 2%
November 77,973 73,317 6%
December 76,905 78,228 -2%
Total 894,416 916,479 -2%

Sales volumes 2016 to 2015

Month Sales 2016
England and Wales
Sales 2015
England and Wales
January 54,254 56,937 -5%

Repossessions by region 2016 to 2015

Repossessions by region January 2016 January 2015 Difference
East 16 40 -60%
East Midlands 33 60 -45%
London 21 76 -72%
North East 16 24 -33%
North West 75 151 -50%
South East 36 66 -45%
South West 21 42 -50%
Wales 35 59 -41%
West Midlands 27 49 -45%
Yorkshire and The Humber 42 90 -53%
England and Wales 322 657 -51%

Access March Price Paid Data.

Notes to editors

  1. 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.

  2. 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).

  3. 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.

  4. A calendar with release dates of the new UK HPI is available.

  5. 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

  6. 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.

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

  8. 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.

  9. 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.

  10. 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).

  11. 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

  12. 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.

  13. 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)

  14. The information available for each property indicates whether it is APPD or SPPD and the record’s status - addition/change/deletion (A/C/D).

  15. 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.

  16. 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.

  17. For further information about Land Registry visit

  18. Follow us on Twitter @HMLandRegistry, our blog, LinkedIn and Facebook.


Senior Press Officer

Marion Shelley
Trafalgar House
1 Bedford Park

Published 28 April 2016