Average house price in England and Wales now £177,299 compared with the peak of £181,324 in November 2007
Annual growth of 7.2 per cent in September
House prices down 0.2 per cent since August
863 repossessions in England & Wales during July 2014
Over 93,350 residential properties in England and Wales lodged for registration in September
The September data from Land Registry’s House Price Index shows an annual price increase of 7.2 per cent which takes the average property value in England and Wales to £177,299. House prices down 0.2 per cent since August. Repossession volumes decreased by 33 per cent in July 2014 to 863 compared with 1,283 in July 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 18.4 per cent.
The East experienced the greatest monthly rise with a movement of 1.4 per cent.
Yorkshire & The Humber saw the lowest annual price growth with a movement of 1.4 per cent.
Yorkshire & The Humber also saw the most significant monthly price fall of 2.2 per cent.
The most up-to-date figures available show that during July 2014 the number of completed house sales in England & Wales increased by 7 per cent to 79,214 compared with 73,749 in July 2013.
The number of properties sold in England and Wales for over £1 million in July 2014 increased by 19 per cent to 1,439 from 1,207 in July 2013.
The region with the greatest fall in repossession sales in July 2014 was the East.
The Price Paid Data includes details of over 93,350 residential property sales in England and Wales lodged for registration in September 2014. The most expensive sale in September 2014 is located in London W11 and sold for £13.5m. The cheapest sale in September 2014 is in Ferryhill, County Durham and sold for £15,000.
Market Trend Data is published on the twentieth working day of each month. The October House Price Index (HPI) will be published at 9.30am on Friday 28 November 2014. The 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 HPI 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 an open document since 1990.
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.