The December data from Land Registry's House Price Index shows an annual price increase of 4.4 per cent which takes the average property value in England and Wales to £167,353. The monthly change from November to December shows an increase of 1.1 per cent. Repossession volumes decreased by 31 per cent in October 2013 to 1,129 compared to 1,636 in October 2012.
Data from Land Registry's December House Price Index has revealed an annual price increase of 4.4 per cent. This takes the average property value in England and Wales to £167,353. The monthly increase from November to December was 1.1 per cent.
The more interesting findings in the report are below:
- The region in England and Wales which experienced the greatest increase in its average property value over the last 12 months is London with a movement of 11.2 per cent
- London also experienced the greatest monthly rise with a movement of 2.6 per cent.
- The only region with an annual price fall is the North East with a decrease of 0.1 per cent.
- Yorkshire & The Humber saw the most significant monthly price fall with a movememt of -1.2 per cent.
- The most up-to-date figures available show that during October 2013 the number of completed house sales in England & Wales increased by 21 per cent to 71,929 compared with 59,213 in October 2012.
- The number of properties sold in England and Wales for over £1 million in October 2013 increased by 40 per cent to 913 from 651 in October 2012.
- The region with the greatest fall in the number of repossession sales were the East Midlands and the South West.
See the full report at Land Registry.