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%

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