May 2015 Market Trend Data
Land Registry's Market Trend Data for England and Wales.
The May data shows an annual price increase of 4.6 per cent which takes the average property value in England and Wales to £179,696 compared with the peak of £180,990 in November 2007. Monthly house prices show no change (0.0 per cent) since April.
The regional data indicates that:
- London and the South East experienced the greatest increase in their average property value over the last 12 months, both with a movement of 9.1 per cent
- East and North East experienced the greatest monthly rise, both with a movement of 1.6 per cent
- Wales saw the only annual price fall with a decrease of 0.6 per cent
- Wales also saw the largest monthly price decrease with a fall of 1.7 per cent
Sales and repossessions during March 2015, the most up-to-date figures available, show that:
- the number of completed house sales in England & Wales decreased by 12 per cent to 59,311 compared with 67,321 in March 2014
- the number of properties sold in England and Wales for over £1 million decreased by 6 per cent to 842 from 893 a year earlier
- repossessions in England and Wales decreased by 35 per cent to 706 compared with 1,092 in March 2014
- the region with the greatest fall in the number of repossession sales was the East
Access the full May HPI report
| Region | Monthly change since April 2015 | Annual change since May 2014 | Average price May 2015 |
|---|---|---|---|
| East | 1.6% | 8.8% | £204,890 |
| North East | 1.6% | 1.0% | £100,295 |
| North West | 1.1% | 3.4% | £114,312 |
| South East | 0.9% | 9.1% | £246,552 |
| London | 0.7% | 9.1% | £475,961 |
| East Midlands | 0.2% | 2.9% | £133,901 |
| West Midlands | 0.1% | 3.5% | £137,185 |
| England and Wales | 0.0% | 4.6% | £179,696 |
| Yorkshire and The Humber | -0.6% | 1.1% | £121,189 |
| South West | -0.6% | 3.6% | £188,552 |
| Wales | -1.7% | -0.6% | £116,377 |
Average price by property type 2015 to 2014
| Average price by property type (England and Wales) | May 2015 | May 2014 | Difference |
|---|---|---|---|
| Detached | £282,854 | £268,751 | 5.2% |
| Semi-detached | £170,280 | £162,672 | 4.7% |
| Terraced | £135,478 | £129,646 | 4.5% |
| Flat/maisonette | £171,269 | £164,630 | 4.0% |
| All | £179,696 | £171,752 | 4.6% |
Sales volumes 2014 to 2013
| Month | Sales 2014 England and Wales | Sales 2013 England and Wales | Difference |
|---|---|---|---|
| January | 65,194 | 43,405 | 50% |
| February | 65,004 | 45,283 | 44% |
| March | 67,321 | 54,744 | 23% |
| April | 70,236 | 51,061 | 38% |
| May | 77,454 | 66,370 | 17% |
| June | 80,727 | 66,170 | 22% |
| July | 84,560 | 73,753 | 15% |
| August | 87,694 | 79,487 | 10% |
| September | 78,554 | 69,719 | 13% |
| October | 85,957 | 76,659 | 12% |
| November | 72,572 | 82,847 | -12% |
| December | 76,728 | 79,608 | -4% |
| Total | 912,001 | 789,106 | 16% |
Sales volumes 2015 to 2014
| Month | Sales 2015 England and Wales | Sales 2014 England and Wales | Difference |
|---|---|---|---|
| January | 55,522 | 65,194 | -15% |
| February | 55,593 | 65,004 | -14% |
| March | 59,311 | 67,321 | -12% |
Repossessions by region 2015 to 2014
| Repossessions by region | March 2015 | March 2014 | Difference |
|---|---|---|---|
| East | 38 | 97 | -61% |
| East Midlands | 48 | 75 | -36% |
| London | 72 | 116 | -38% |
| North East | 29 | 33 | -12% |
| North West | 163 | 267 | -39% |
| South East | 103 | 131 | -21% |
| South West | 29 | 56 | -48% |
| Wales | 73 | 86 | -15% |
| West Midlands | 50 | 90 | -44% |
| Yorkshire and The Humber | 101 | 141 | -28% |
| All | 706 | 1,092 | -35% |
The Price Paid Data includes details of over 62,100 residential property sales in England and Wales lodged for registration in May 2015. The most expensive sale in May 2015 was in London SW3 (£10,050,000). The cheapest sale in May 2015 was in Copeland, Cumbria (£10,000).
Notes to editors
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Market Trend Data is published on the twentieth working day of each month. The June House Price Index (HPI) will be published at 9.30am on Tuesday 28 July 2015. Price Paid Data is published at 11am on the same day.
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A calendar with release dates of the headline figure and the full HPI is available.
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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 single residential property sales completed in England and Wales since January 1995 subject to exclusion.
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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.
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The adjusted headline statistics for England and Wales on p14 of the monthly HPI report include additional repossession data.
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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.
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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 repossession data for more information.
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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).
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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
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Download Price Paid Data in txt, 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.
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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.
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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.
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For further information about Land Registry visit www.gov.uk/land-registry
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Contact
Press Office
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Email HMLRPressOffice@landregistry.gov.uk
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