December 2015 Market Trend Data

Sunday 31 Jan 2016 @ 08:10
Land Registry

Land Registry's monthly Market Trend Data for residential property prices in England and Wales.

The December data shows an annual price increase of 6.4% which takes the average property value in England and Wales to £188,270. Monthly house prices rose by 1.2% since November 2015.

The regional data indicates that:

London experienced the greatest increase in its average property value over the last 12 months with a movement of 12.4%
London also experienced the greatest monthly growth with an increase of 2.1%
the North East saw the lowest annual price growth with an increase of 0.8%
Wales saw the most significant monthly price fall with a decrease of 0.8%

Sales and repossessions during October 2015, the most up-to-date figures available, show that:

the number of completed house sales in England and Wales fell by 8% to 79,960 compared with 86,452 in in October 2014
the number of properties sold in England and Wales for more than £1 million fell by 2% to 1,231 from 1,258 a year earlier
repossessions in England and Wales fell by 51% to 431 compared with 888 in October 2014
the region with the greatest fall in the number of repossession sales was London with a fall of 71% from October 2014

Access the full December HPI report.

Price change by region

Region	Monthly change since November 2015	Annual change since December 2014	Average price December 2015
London	2.1%	12.4%	£514,097
East	1.7%	10.6%	£218,837
England and Wales	1.2%	6.4%	£188,270
Yorks and Humber	1.2%	3.8%	£125,492
South East	1.1%	9.5%	£261,581
West Midlands	1.1%	4.8%	£142,731
North West	0.9%	5.0%	£116,152
South West	0.8%	6.8%	£196,134
East Midlands	-0.3%	4.2%	£137,171
North East	-0.7%	0.8%	£99,069
Wales	-0.8%	3.4%	£121,780

Average price by property type 2015 to 2014

Average price by property type (England and Wales)	December 2015	December 2014	Difference
Detached	£294,410	£278,341	5.8%
Semi-detached	£178,140	£167,019	6.7%
Terraced	£141,998	£133,360	6.5%
Flat/maisonette	£180,598	£169,732	6.4%
All	£188,270	£176,952	6.4%

Sales volumes 2014 to 2013

Month	Sales 2014 England and Wales	Sales 2013 England and Wales	Difference
January	65,268	43,435	50%
February	65,078	45,305	44%
March	67,418	54,779	23%
April	70,364	51,102	38%
May	77,607	66,414	17%
June	80,945	66,255	22%
July	84,761	73,798	15%
August	87,939	79,571	11%
September	78,916	69,780	13%
October	86,452	76,742	13%
November	73,250	82,944	-12%
December	78,109	79,726	-2%
Total	916,107	789,851	16%

Sales volumes 2015 to 2014

Month	Sales 2015 England and Wales	Sales 2014 England and Wales	Difference
January	56,829	65,268	-13%
February	57,930	65,078	-11%
March	65,365	67,418	-3%
April	62,409	70,364	-11%
May	71,947	77,607	-7%
June	80,800	80,945	0%
July	88,587	84,761	5%
August	79,416	87,939	-10%
September	74,802	78,916	-5%
October	79,960	86,452	-8%

Repossessions by region 2015 to 2014

Repossessions by region	October 2015	October 2014	Difference
East	21	65	-68%
East Midlands	31	77	-60%
London	24	82	-71%
North East	13	25	-48%
North West	112	208	-46%
South East	49	90	-46%
South West	30	56	-46%
Wales	41	78	-47%
West Midlands	38	64	-41%
Yorkshire and The Humber	72	143	-50%
All	431	888	-51%

Access December Price Paid Data dataset.

Notes to editors

Market Trend Data is published on the 20th working day of each month. The January 2016 House Price Index (HPI) will be published at 9.30am on Friday 26 February 2016. Price Paid Data is published at 11am on the same day.
A calendar with release datesof the headline figure and the full HPI is available.
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 exclusions.
Land Registry’s dataset contains details on more than 20 million residential transactions. Of these, more than 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.
The adjusted headline statistics for England and Wales on p14 of the monthly HPI report include additional repossession data.
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.
Although the HPI goes back to January 1995, we have been recording repossessions comprehensively only since 2006. This means that historic repossession data is not available prior to January 2006. Read more information about repossessions data.
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).
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
Price Paid Data can be downloaded in txt and CSV formats 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.
Price Paid Data includes Standard Price Paid Data (SPPD) for single residential property sales at full market value and Additional Price Paid Data (APPD) for transactions previously excluded from SPPD such as:
- transfers to a non-private individual, for example a company, corporate body or business
- transfers under a power of sale (repossessions)
- buy-to-lets (where they can be identified by a mortgage)
The information available for each property indicates whether it is APPD or SPPD and the record’s status - addition/change/deletion (A/C/D).
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.
With the largest transactional database of its kind detailing more than 24 million titles, Land Registry underpins the economy by safeguarding ownership of many billions of pounds worth of property.
For further information about Land Registry visit www.gov.uk/land-registry.
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