The August data from Land Registry’s House Price Index shows an annual price increase of 1.3% which takes the average property value in England and Wales to £164,654.
The monthly change from July to August shows an increase of 0.1%. Repossession volumes decreased by 21% in June 2013 to 1,131 compared with 1,423 in June 2012.
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 7.1% and the North West experienced the greatest monthly rise with a movement of 1.3%. The region with the greatest annual price fall is the North East with a decrease of 2.2%. Wales saw the most significant monthly price fall with a decrease of 2.1%. The most up-to-date figures available show that during June 2013, the number of completed house sales in England and Wales increased by 1.0% to 60,168 compared with 59,854 in June 2012. The number of properties sold in England and Wales for over £1 million in June 2013 increased by 16% to 788 from 679 in June 2012. The region with the greatest fall in the number of repossession sales was Wales where repossessions dropped by 37% (71 in June 2013 compared with 113 in June 2012).
The Transaction Data shows Land Registry completed over 1,224,530 applications from its customers (account and non-account) in August. This includes 1,173,917 applications by account customers, of which 303,564 were applications in respect of registered land (dealings); 517,432 were applications to obtain an official copy of a register or title plan; 174,128 were searches and 75,003 were transactions for value.
The Price Paid Data includes details of over 72,800 residential property sales in England and Wales lodged for registration in August 2013. The most expensive sale in August 2013 was of a property located in north London which sold for £9.8m. The cheapest sale in August 2013 is located in Burnley, Lancashire and sold for £11,000.
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