Press release

October 2014 Market Trend Data

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

houses
  • Average house price in England and Wales now £177,377 compared with the peak of £181,269 in November 2007
  • Annual growth of 7.7 per cent in October
  • House prices up 0.1 per cent since September
  • 751 repossessions in England & Wales during August 2014

The October data from Land Registry’s House Price Index shows an annual price increase of 7.7 per cent which takes the average property value in England and Wales to £177,377. House prices up 0.1 per cent since September. Repossession volumes decreased by 42 per cent in August 2014 to 751 compared with 1,301 in August 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 18.6 per cent.
  • The East experienced the greatest monthly rise with a movement of 1.6 per cent.
  • Wales saw the lowest annual price growth with a movement of 2.0 per cent.
  • The North East saw the most significant monthly price fall of 2.7 per cent.
  • The most up-to-date figures available show that during August 2014 the number of completed house sales in England & Wales increased by 4 per cent to 82,415 compared with 79,587 in August 2013.
  • The number of properties sold in England and Wales for over £1 million in August 2014 increased by 15 per cent to 1,363 from 1,185 in August 2013.
  • The region with the greatest fall in repossession sales in August 2014 was London.

Access the full October HPI report

Region Monthly change since September 2014 Annual change since October 2013 Average price October 2014
East 1.6% 11% £198,338
South East 1.2% 11.4% £240,070
London 0.7% 18.6% £460,060
Yorks and Humber 0.6% 4.3% £120,807
South West 0.2% 6.4% £185,615
West Midlands 0.2% 4.4% £135,378
England and Wales 0.1% 7.7% £177,377
North West -0.3% 4.5% £112,642
East Midlands -0.4% 5.7% £131,274
Wales -0.9% 2% £118,437
North East -2.7% 2.7% £97,356

Average price by property type 2014 to 2013

Average price by property type (England & Wales) October 2014 October 2013 Difference (%)
Detached £278,723 £260,947 6.8%
Semi-detached £167,525 £156,325 7.2%
Terraced £133,350 £123,893 7.6%
Flat/maisonette £170,670 £155,988 9.4%
All £177,377 £164,740 7.7%

Sales volumes 2013 to 2012

Month Sales 2013England & Wales Sales 2012England & Wales Difference
January 43,399 43,787 -1%
February 45,271 44,875 1%
March 54,744 61,382 -11%
April 51,043 43,290 18%
May 66,356 52,569 26%
June 66,145 59,904 10%
July 73,762 59,199 25%
August 79,587 65,067 22%
September 70,011 52,902 32%
October 77,329 59,260 30%
November 83,647 64,011 31%
December 80,399 56,745 42%
Total 791,693 662,991 19%

Sales volumes 2014 to 2013

Month Sales 2014England & Wales Sales 2013England & Wales Difference
January 66,000 43,399 52%
February 65,777 45,271 45%
March 68,127 54,744 24%
April 70,919 51,043 39%
May 77,849 66,356 17%
June 79,726 66,145 21%
July 82,392 73,762 12%
August 82,415 79,587 4%

Repossessions by region 2014 to 2013

Repossessions by region August 2014 August 2013 Difference
East 54 105 -49%
East Midlands 70 100 -30%
London 53 125 -58%
North East 31 41 -24%
North West 182 316 -42%
South East 74 129 -43%
South West 43 87 -51%
Wales 68 109 -38%
West Midlands 70 111 -37%
Yorkshire & The Humber 106 178 -40%
All 751 1,301 -42%

The Price Paid Data includes details of 92,492 residential property sales in England and Wales lodged for registration in October 2014. The most expensive sale in October 2014 was in Holland Park, London W14 and sold for £19m. The cheapest sale in October 2014 was in Burnley, Lancashire and sold for £12,000.

Access the full dataset

ENDS

Notes to editors

  1. Market Trend Data is published on the twentieth working day of each month. The November House Price Index (HPI) will be published at 9.30am on Tuesday 30 December 2014. 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. 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 an open document since 1990.

  12. 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.

  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
Trafalgar House
1 Bedford Park
Croydon
CR0 2AQ

Published 28 November 2014