Press release: February 2015 Market Trend Data

Updated: Added translation

The February data shows an annual price increase of 6.5 per cent which takes the average property value in England and Wales to £180,252 compared with the peak of £181,083 in November 2007. House prices are up 0.5 per cent since January.

The regional data indicates that:

London experienced the greatest increase in its average property value over the last 12 months with a movement of 13.1 per cent North East experienced the greatest monthly rise with a movement of 6.2 per cent North West saw the lowest annual price growth with a movement of 0.7 per cent North West also saw the largest monthly price fall of 1.7 per cent

Sales and repossessions during December 2014, the most up-to-date figures available, show that:

the number of completed house sales in England & Wales decreased by 11 per cent to 70,470 compared with 79,569 in December 2013 the number of properties sold in England and Wales for over £1 million decreased by 4 per cent to 929 from 967 a year earlier repossessions in England and Wales decreased by 38 per cent to 654 compared with 1,062 in December 2013 London was the region with the greatest fall in repossession sales

Access the full February HPI report

Region Monthly change since January 2015 Annual change since February 2014 Average price February 2015 North East 6.2% 3.7% £102,061 Wales 4.4% 5.4% £123,941 West Midlands 2.2% 5.0% £138,982 East 0.9% 10.5% £202,394 Yorks and Humber 0.7% 2.8% £121,454 London 0.6% 13.1% £463,872 England and Wales 0.5% 6.5% £180,252 South East 0.3% 9.0% £242,469 East Midlands 0.3% 4.4% £134,032 South West -0.4% 5.1% £186,124 North West -1.7% 0.7% £111,259 Average price by property type 2015 to 2014 Average price by property type (England and Wales) February 2015 February 2014 Difference Detached £283,500 £266,530 6.4% Semi-detached £170,063 £160,448 6.0% Terraced £136,481 £128,093 6.5% Flat/maisonette £171,697 £160,506 7.0% All £180,252 £169,249 6.5% Sales volumes 2013 to 2012 Month Sales 2013 England and Wales Sales 2012 England and Wales Difference January 43,404 43,795 -1% February 45,275 44,880 1% March 54,737 61,392 -11% April 51,050 43,296 18% May 66,358 52,578 26% June 66,134 59,911 10% July 73,733 59,208 25% August 79,464 65,075 22% September 69,703 52,908 32% October 76,615 59,267 29% November 82,809 64,021 29% December 79,569 56,759 40% Total 788,851 663,090 19% Sales volumes 2014 to 2013 Month Sales 2014 England and Wales Sales 2013 England and Wales Difference January 65,158 43,404 50% February 64,957 45,275 43% March 67,234 54,737 23% April 70,099 51,050 37% May 77,269 66,358 16% June 80,435 66,134 22% July 84,229 73,733 14% August 87,173 79,464 10% September 77,735 69,703 12% October 84,340 76,615 10% November 69,668 82,809 -16% December 70,470 79,569 -11% Total 898,767 788,851 14% Repossessions by region 2014 to 2013 Repossessions by region December 2014 December 2013 Difference East 43 71 -39% East Midlands 55 84 -35% London 46 100 -54% North East 23 33 -30% North West 152 271 -44% South East 84 131 -36% South West 34 61 -44% Wales 55 95 -42% West Midlands 61 78 -22% Yorkshire & The Humber 101 138 -27% All 654 1,062 -38%

The Price Paid Data includes details of over 64,120 residential property sales in England and Wales lodged for registration in February 2015. The most expensive sale in February 2015 was in London SW3 (£27,750,000). The cheapest sale in February 2015 was in Burnley, Lancashire (£15,000).

Access the full dataset

Notes to editors

Market Trend Data is published on the twentieth working day of each month. The March House Price Index (HPI) will be published at 9.30am on Thursday 30 April 2015. Price Paid Data is published at 11am on the same day.

A calendar with release dates of the headline figure and the full HPI is available on our release calendar.

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.

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 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 open to public inspection since 1990.

With the largest transactional database of its kind detailing over 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

Follow us on Twitter @LandRegGov, our blog and LinkedIn and Facebook Contact Press and PR manager

Marion ShelleyHead office Trafalgar House1 Bedford ParkCroydonCR0 2AQ

Email marion.shelley@landregistry.gsi.gov.uk

Telephone 0300 0067543

Mobile 07790 690297

https://www.gov.uk/government/news/february-2015-market-trend-data

seen at 10:30, 27 March in News and communications.
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