March Market Trend Data from Land Registry
The March data shows an annual price increase of 5.3 per cent which takes the average property value in England and Wales to £178,007 compared with the peak of £181,049 in November 2007. House prices are down 0.8 per cent since February.
The regional data indicates that:
- London experienced the greatest increase in its average property value over the last 12 months with a movement of 11.3 per cent
- South East experienced the greatest monthly rise with a movement of 0.8 per cent
- North East saw the only annual price fall with a decrease of 2.9 per cent
- North East also saw the largest monthly price decrease with a fall of 4 per cent.
Sales and repossessions during January 2015, the most up-to-date figures available, show that:
- the number of completed house sales in England & Wales decreased by 18 per cent to 53,168 compared with 65,175 in January 2014
- the number of properties sold in England and Wales for over £1 million decreased by 19 per cent to 851 from 1,049 a year earlier
- repossessions in England and Wales decreased by 45 per cent to 590 compared with 1,081 in January 2014
- London was the region with the greatest fall in repossession sales.
The Price Paid Data includes details of over 68,770 residential property sales in England and Wales lodged for registration in March 2015. The most expensive sale in March 2015 was in London W14 (£15,750,000) The cheapest sale in March 2015 was in Bridgend, Wales (£12,000).