Small rise in North West house prices

The July data from Land Registry's House Price Index again showed an annual price fall in the North West of 3.3% but a small increase in the past month.

The average house price in the North West in July 2011 has remained similar to the past months at a little more than £114,000, compared to a national average of £163,000.

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 1.3%. The South West experienced the greatest monthly rise with a movement of 2.2%. The North East experienced both the greatest annual price fall with a decrease of 8.8% and the most significant monthly price fall with a movement of 2.3%.

The national 2.1% decline takes the average property value in England and Wales to £163,049. The monthly change from June to July was a rise of 1.3%.

The most up-to-date figures available show that during May 2011, the number of completed house sales in England and Wales decreased by 10% to 46,870 from 52,170 in May 2010. The number of properties sold in England and Wales for over £1m decreased by 44% between May 2010 and May 2011, from 464 to 262.

Region

Monthly change (since Jun 2011)

Annual change

(since July 2010)

Average price

(July 2011)

South West

2.2%

-1.9%

£174,946

London

1.9%

1.3%

£346,416

West Midlands

1.6%

-1.8%

£133,254

Yorkshire & The Humber

1.4%

-4.5%

£122,083

England & Wales

1.3%

-2.1%

£163,049

East Midlands

1.2%

-3.2%

£125,335

North West

1.2%

-3.3%

£114,452

South East

0.9%

-1.1%

£209,309

Wales

0.9%

-3.4%

£119,892

East

0.6%

-2.3%

£173,393

North East

-2.3%

-8.8%

£101,143

Average prices by property type (England and Wales)

July 2011

July 2010

Difference (%)

Detached

£256,545

£260,865

-1.7%

Semi-detached

£154,219

£157,466

-2.1%

Terraced

£124,453

£127,507

-2.4%

Flat/maisonette

£151,519

£155,863

-2.8%

All

£163,049

£166,607

-2.1%

Month

Sales 2010 (England and Wales)

Sales 2009 (England and Wales)

Difference (%)

January

35,842

26,286

36%

February

42,534

27,288

56%

March

51,412

35,546

45%

April

52,282

39,360

33%

May

52,170

45,878

14%

June

62,705

54,803

14%

July

67,451

63,682

6%

August

61,419

58,359

5%

September

57,396

58,532

-2%

October

58,532

65,820

-11%

November

56,193

61,151

-8%

December

56,637

78,529

-28%

Total

654,573

615,234

6%

Month

Sales 2011 (England and Wales)

Sales 2010 (England and Wales)

Difference (%)

January

37,380

35,842

4%

February

39,362

42,534

-7%

March

46,114

51,412

-10%

April

49,608

52,282

-5%

May

46,870

52,170

-10%

Your Comments

Read our comments policy here

Subscribe to our newsletter