Housing data confirms North-South divide
The May data from Land Registry's House Price Index shows an annual price fall of 4.9% in the North West and continued decline in the past month.
The average house price in the North West in May 2011 was a little more than £114,000, compared to a national average of £161,000.
The only region in England and Wales to experience an increase in its average property value over the last 12 months is London with a movement of 2.9%. The East Midlands experienced the greatest monthly rise with a movement of 0.4%. The North East again experienced the greatest annual price fall with a decrease of 6.9%. Wales is the region which experienced the most significant monthly price fall with a movement of 3.5%.
The national 2.2% decline takes the average property value in England and Wales to £161,823. The monthly change from April to May was a decrease of 0.4%.
The most up-to-date figures available show that during March 2011, the number of completed house sales in England and Wales was down by 13% to 44,803 from 51,399 in March 2010. The number of properties sold in England and Wales for in excess of £1m increased by 58% between March 2010 and March 2011, from 511 to 805.
|
Region |
Monthly change since April 2011 |
Annual change since May 2010 |
Average price May 2011 |
|
East Midlands |
0.4% |
-1.5% |
£125,849 |
|
London |
0.2% |
2.9% |
£344,819 |
|
South East |
0.1% |
-2.1% |
£206,980 |
|
North West |
-0.3% |
-4.9% |
£114,223 |
|
England & Wales |
-0.4% |
-2.2% |
£161,823 |
|
East |
-0.7% |
-2.5% |
£171,531 |
|
South West |
-0.7% |
-2.7% |
£173,083 |
|
Yorkshire & The Humber |
-0.7% |
-3.1% |
£122,311 |
|
West Midlands |
-1.1% |
-3.0% |
£131,282 |
|
North East |
-1.8% |
-6.9% |
£102,231 |
|
Wales |
-3.5% |
-5.6% |
£115,664 |
|
Average prices by property type, England and Wales |
May 2011 |
May 2010 |
Difference % |
|
Detached |
£255,911 |
£257,994 |
-0.8% |
|
Semi-detached |
£152,701 |
£157,114 |
-2.8% |
|
Terraced |
£123,063 |
£126,837 |
-3.0% |
|
Flat/maisonette |
£151,024 |
£154,506 |
-2.3% |
|
All |
£161,823 |
£165,499 |
-2.2% |
|
Month |
Sales 2010 (England and Wales) |
Sales 2009 (England and Wales) |
Difference |
|
January |
35,827 |
26,278 |
36% |
|
February |
42,524 |
27,279 |
56% |
|
March |
51,399 |
35,533 |
45% |
|
April |
52,265 |
39,356 |
33% |
|
May |
52,152 |
45,871 |
14% |
|
June |
62,674 |
54,789 |
14% |
|
July |
67,406 |
63,671 |
6% |
|
August |
61,363 |
58,343 |
5% |
|
September |
57,325 |
58,516 |
-2% |
|
October |
58,434 |
65,808 |
-11% |
|
November |
56,050 |
61,121 |
-8% |
|
December |
56,396 |
78,491 |
-28% |
|
Total |
653,815 |
615,056 |
6% |
|
Month |
Sales 2011 (England and Wales) |
Sales 2010 (England and Wales) |
Difference |
|
January |
37,157 |
35,827 |
4% |
|
February |
38,900 |
42,524 |
-9% |
|
March |
44,803 |
51,399 |
-13% |
