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LATEST RESIDENTIAL PROPERTY PRICE REPORT PUBLISHED

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The Land Registry today published the latest in its series of quarterly residential property price reports, coverin...
The Land Registry today published the latest in its series of quarterly residential property price reports, covering the period April-June, 1996.

The report provides details of the average sale prices and volume of sales in England and Wales. The data is broken down by property type and by county, to include the new unitary authorities introduced on April 1, 1996. For the first time, the figures include a breakdown of Greater London by individual London boroughs.

The report contains a summary comparing average prices for April-June 1996 with those for the same period in 1995, illustrating trends over the last year. It also incorporates a breakdown of the average sale prices of old and new properties by property type.

Sales in this context are taken to mean the transfer of ownership for value of freehold and long leasehold residential properties, whether or not the purchase was supported by a mortgage. The data relates to information drawn from 209,244 transactions processed by the Land Registry during the collection period.

No weighting or adjustment is applied to the information collected to reflect any seasonal or other factors. The price data can be said to be actual unadjusted averages, drawn from the great majority of all residential sales in England and Wales completed during the period.

This Land Registry report is intended to complement information already available from other sources. Any comparison with other data should have regard to the difference in volume, timeliness and coverage of contributing transactions.

Tables showing average residential property prices for England and Wales Quarter ending 30 June 1996 and the volume of sales by price range are available from LGCNet. Tel 0171 833 7324.

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