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% |
