May house prices up 0.5 per cent since April

By Bridging Loan Directory -

 

May Market Trend Data from Land Registry

  • May house prices up 0.5 per cent since April: average house price in England and Wales now £161,677
  • South East tops the table of regional applications with 267,587 in May
  • Over 54,000 residential property sale prices in England and Wales lodged for registration in May ranging from £10,000 to £28 million

The May data from Land Registry’s flagship House Price Index shows an annual price increase of 0.4 per cent which takes the average property value in England and Wales to £161,677. The monthly change from April to May is an increase of 0.5 per cent.

  • The region in England and Wales which experienced the highest increase in its average property value over the last 12 months is London with a movement of 7.7 per cent.
  • London also experienced the greatest monthly rise with an increase of 2.6 per cent.
  • Yorkshire & The Humber experienced the greatest annual price fall with a decrease of 3.9 per cent.
  • North East saw the most significant monthly price fall with a decrease of 1.9 per cent.
  • The most up-to-date figures available show that during March 2012, the number of completed house sales in England and Wales increased by 25 per cent to 58,609 compared with 46,742 in March 2011.
  • The number of properties sold in England and Wales for over £1 million in March 2012 decreased by 41 per cent to 501 from 845 in March 2011.

Access the full HPI dataset

House Price Index

 

Region Monthly change (since April 2012) Annual change (since May 2011) Average price (May 2012)
London

2.6%

7.7%

£365,359

West Midlands

2.0%

-1.2%

£129,827

Yorkshire & The Humber

0.8%

-3.9%

£117,371

South East

0.5%

1.7%

£208,720

England & Wales

0.5%

0.4%

£161,677

East Midlands

0.2%

-1.6%

£122,858

East

0.2%

1.6%

£174,226

South West

-0.2%

-0.2%

£172,437

North West

-1.5%

-2.8%

£110,047

Wales

-1.8%

-2.0%

£115,299

North East

-1.9%

-3.5%

£99,492

 

 

Average prices by property type (England and Wales) May 2012 May 2011 Difference
Detached

£254,407

£254,511

Semi-detached

£152,965

£152,552

0.3%

Terraced

£122,165

£122,445

-0.2%

Flat/maisonette

£153,018

£149,591

2.3%

All

£161,677

£160,961

0.4%

 

 

Month Sales 2011 (England and Wales) Sales 2010 (England and Wales) Difference
January

37,601

35,880

5%

February

39,675

42,575

-7%

March

46,742

51,464

-9%

April

50,707

52,332

-3%

May

48,959

52,234

-6%

June

57,665

62,779

-8%

July

62,257

67,531

-8%

August

64,333

61,518

5%

September

63,456

57,514

10%

October

57,845

58,672

-1%

November

60,157

56,351

7%

December

63,213

56,903

11%

Total

652,610

655,753

0%

 

 

Month Sales 2012 (England and Wales) Sales 2011 (England and Wales) Difference
January

43,315

37,601

15%

February

44,125

39,675

11%

March

58,609

46,742

25%

 

The Transaction Data shows Land Registry received over 1 million applications from all its customers (account and non-account) in May. This includes 1,095,004 applications by account customers, of which 261,845 were applications in respect of registered land (dealings); 492,374 were applications to obtain an official copy of a register or title plan; 161,062 were searches and 49,809 were transactions for value.

Access the full transaction dataset

Transaction data

 

Top three customers Transactions for value
Countrywide Property Lawyers 1,262
My Home Move Ltd 1,016
O’Neill Patient 681

 

 

Top three customers Searches
Enact 5,959
Optima Legal Services 5,720
TM Group (UK) LTD (Search Choice) 5,419

 

Top three local authority areas Applications
City of Westminster 19,577
Birmingham 18,320
Cornwall 13,913

 

Region Applications
South East 267,587
Greater London 212,370
North West 126,984
South West 118,486
West Midlands 102,591
Yorks & Humber 96,062
East Midlands 85,004
Wales 58,637
North 56,807
East Anglia 47,885
England & Wales (not assigned) 61
Isles of Scilly 27
England & Wales 1,172,501

 

The Price Paid Data includes details of over 54,000 residential property sales in England and Wales that were lodged for registration in May 2012. The most expensive property sold for £28 million in May 2012 and is located in central London; the cheapest property in Shaw, Oldham, Lancashire sold for £10,000 in April 2012.

Access the full price paid dataset