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Press Office
Average house price in England and Wales up by 4.6% to £191,327 and sales up by 12.6%
Land Registry’s latest residential property price report covering the period October - December 2005, published today, Wednesday 8 February, shows the average house price in England and Wales was £191,327, an annual increase of 4.60 per cent compared to an annual increase of 11.82 per cent for the same period last year. Sales in England and Wales were up by 12.6 per cent, compared with the same period in 2004. Sales in Greater London increased by 15.01 per cent. The report compares average prices and volume of sales with those for the same quarter in 2004. It also gives a breakdown of the average sale prices of old and new properties by property type. The figures are taken into account by the Bank of England along with other housing market and economic indicators.
The following information is contained in the report: England and Wales - The average price increased by 4.60 per cent from £182,920 in 2004 to £191,327 for the same period in 2005.
All economic regions in England and Wales showed an increase in average prices. The volume of sales increased by 12.64 per cent from 229,724 in 2004 to 258,763 for the same period in 2005. 948 properties over £1 million were sold compared to 765 for the same period in 2004.
Greater London The average property price increased by 4.54 per cent from £276,698 in 2004 to £289,248 for the same period in 2005. The volume of sales increased by 15.01 per cent from 28,041 in 2004 to 32,251 for the same period in 2005. 521 properties over £1 million were sold compared to 436 for the same period in 2004.
Average price by region
| Region | Oct-Dec
2004 Ave. Price | Oct-Dec 2005 Ave. Price | % Increase | England & Wales | £182,920 | £191,327 | 4.60 | | | | | North | £122,980 | £133,454 | 8.52 | North West | £130,129 | £140,171 | 7.72 | Yorks & Humber | £133,224 | £142,472 | 6.94 | Wales | £136,460 | £145,096 | 6.33 | Greater London | £276,698 | £289,248 | 4.54 | South East | £222,147 | £229,084 | 3.12 | East Midlands | £151,381 | £155,286 | 2.58 | West Midlands | £156,420 | £160,341 | 2.51 | East Anglia | £175,522 | £178,335 | 1.60 | South West | £199,362 | £200,388 | 0.51 |
Notes for editors
1. The report is published today on Land Registry’s website at www.landregistry.gov.uk. The website also contains all previous quarterly reports together with an online service providing residential property prices and volumes of sales, broken down by property type, for the whole of England and Wales.
2. All reports since January-March 2000 include sales of under £10,000 and over £1 million. Land Registry started collecting property price data in the first quarter of 1995. It holds no data prior to that date.
3. The sales included in the report relate to the transfer for full market value of the ownership of freehold or long leasehold properties, whether or not the purchase was supported by a mortgage. The price data are actual, unadjusted averages drawn from the great majority of all residential sales in England and Wales completed during the period.
4. The report is intended to complement information available from other sources. If you make any comparison with other data you should consider the differences in volume, timeliness and coverage of contributing transactions.
5. Land Registry’s Property Information Centre also provides reports that show aggregated data for any local authority district in England and Wales, postcode area (eg GL), postcode district (eg GL1), or postcode sector (eg GL1 2). There is a fee for the service.
6. With the largest property database in Europe, today’s Land Registry underpins the economy by guaranteeing ownership of many billions of pounds worth of property. Around £1 million worth of property is processed every minute, in England and Wales.
7. As a government department established in 1862, executive agency and trading fund responsible to the Secretary of State for Constitutional Affairs and Lord Chancellor, Land Registry keeps and maintains the Land Register for England and Wales.
Contacts
• For media enquiries, please call the Press Office on 020 7166 4487.
• For general enquiries and enquiries for back issues, bespoke reports and requests for additional data, please contact the Property Information Centre on 0151 473 6137.
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