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 Wide range in regional house price rises
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Tuesday, May 11, 2004 |
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A less up to date but arguably more accurate report on the state of the housing market was published by the Land Registry today.
A wide range of regional house price rises over the year are shown from 9.3% in Greater London to 27.15% in Wales with an average rise for England and Wales of 14.06%.
According to the report, which covers the period January – March 2004 the average house price in England and Wales now £166,404 compared with £145,897 in the same period a year ago.
The report compares average prices and volume of sales with those for the same period in 2003 and it also gives a breakdown of the average sale prices of old and new properties by property type.
Other details:
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All economic regions in England and Wales showed an increase in average prices
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The volume of sales increased by 12.27% from 217,262 in 2003 to 243,914 for the same period in 2004
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795 properties over £1 million were sold
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The average property price increased by 9.39% from £240,126 in 2003 to £262,685 for the same period in 2004
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The volume of sales increased by 14.19% from 28,417 in 2003 to 32,448 for the same period in 2004
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470 properties over £1 million were sold
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Average price by country and region |
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Country/region |
Jan-mar 2003
Ave. Price |
Jan-mar 2004
Ave. Price |
% increase |
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England & Wales |
£145,897 |
£166,404 |
14.06 |
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North |
£82,161 |
£102,330 |
24.55 |
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Wales |
£90,585 |
£115,179 |
27.15 |
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East Midlands |
£111,405 |
£132,113 |
18.59 |
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Yorks & Humber |
£92,629 |
£113,320 |
22.34 |
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North West |
£90,644 |
£111,124 |
22.59 |
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West Midlands |
£118,533 |
£137,644 |
16.12 |
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South West £ |
159,173 |
£179,412 |
12.72 |
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East Anglia |
£137,338 |
£155,374 |
13.13 |
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South East |
£188,792 |
£204,307 |
8.22 |
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Greater London |
£240,126 |
£262,685 |
9.39 |
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Summary of average prices for all England and Wales |
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Property type |
Average price of property |
% difference |
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Jan-Mar 2003 |
Jan-Mar 2004 |
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Detached |
Old |
£234,076 |
£257,643 |
+10.07 |
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New |
£208,639 |
£233,090 |
+11.72 |
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All |
£230,916 |
£255,191 |
+10.51 |
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Semi-Detached |
Old |
£130,749 |
£150,344 |
+14.99 |
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New |
£141,187 |
£156,588 |
+10.91 |
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All |
£131,142 |
£150,450 |
+14.72 |
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Terraced |
Old |
£107,102 |
£126,328 |
+17.95 |
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New |
£148,563 |
£167,473 |
+12.73 |
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All |
£108,563 |
£127,760 |
+17.68 |
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Flat/Maisonette |
Old |
£138,041 |
£155,648 |
+12.75 |
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New |
£171,834 |
£187,393 |
+9.05 |
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All |
£142,023 |
£160,152 |
+12.76 |
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All |
Old |
£143,611 |
£164,519 |
+14.56 |
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New |
£176,914 |
£193,379 |
+9.31 |
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All |
£145,897 |
£166,404 |
+14.06 |
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