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PROPERTY PRICE REPORT SHOWS 10.10% INCREASE IN HOUSE PRICES

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The Land Registry today published its latest quarterly ...
The Land Registry today published its latest quarterly
residential property price report, covering the period
October-December 2000.
The report compares average prices and volume of sales with those for
the same period in 1999. It also gives a breakdown of the average
sale prices of old and new properties, by property type.
The following information is contained in the report:
England and Wales
- The average price increased by 10.10% from£96,867 in 1999 to
£106,452 for the same period in 2000 (excluding sales under
£10,000 and over£1m).
- All economic regions in England and Wales showed an increase in
average prices.
- The volume of sales decreased by 3.62% from 245,876 in 1999 to
236,985 for the same period in 2000.
Greater London
- The average property price increased by 12.89% from£157,624 in
1999 to£177,949 for the same period in 2000 (excluding sales
under£10,000 and over£1m).
- The volume of sales decreased by 14.50% from 35,327 in 1999 to
30,205 for the same period in 2000.
- 478 properties over£1m were sold.
- Average property price increases ranged from 26% in Lambeth to 3%
in Hounslow.
AVERAGE PRICE BY COUNTRY AND REGION
COUNTRY/REGION OCT-DEC OCT-DEC %
1999 2000 INCREASE
AVE. PRICE* AVE. PRICE*
ENGLAND & WALES #96,687 #106,452 10.10%
EAST ANGLIA #80,696 #94,706 17.36%
SOUTH EAST #118,145 #136,907 15.88%
SOUTH WEST #93,508 #108,353 15.88%
GREATER LONDON #157,624 #177,949 12.89%
WEST MIDLANDS #76,495 #86,241 12.74%
YORKS & HUMBER #63,302 #69,337 9.53%
EAST MIDLANDS #70,826 #76,902 8.58%
NORTH WEST #64,152 #69,549 8.41%
WALES #62,279 #65,731 5.54%
NORTH #61,689 #64,963 5.31%
*excluding sales under #10,000 and over #1m
NOTES
1. All Reports since January-March 2000 include sales of under
#10,000 and over #1m. The Land Registry started collecting
property price data in the first quarter of 1995. It holds no data
prior to that date.
2. The Land Registry's website, contains a
full copy of this new report and all previous reports. It also
offers an online service, providing residential property prices
and volumes of sales, broken down by property type, for the whole
of England and Wales. Property price data are also available via
our WAP service.
3. The sales included in the report relate to the transfer for
full market value of the ownership of freehold or long leasehold
properties, whether or not the purchase was supported by a
mortgage. The price data are actual, unadjustedaverages drawn
from the great majority of all residential sales in England and
Wales completed during the period.
4. This Land Registry report is intended to complement information
available from other sources. If you make any comparison with
other data you should consider the differences in volume,
timeliness and coverage of contributing transactions.
5. The Land Registry's Property Information Centre also provides
reports that show aggregated data for any local authority district
in England and Wales, postcode area (eg GL), postcode district
(eg GL1), or postcode sector (eg GL1 2). There is a fee for
this service.
6. HM Land Registry is a government executive agency and trading
fund responsible to the lord chancellor which keeps and maintains
the Land Register for England and Wales. Its main purpose is to
register title to land and to record dealings once the land is
registered. Established in 1862, it is required by statute to be
self-financing and makes no call on public funds.
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