Land Registry’s latest property price report published today, shows that Wales had the highest average price increase for the second quarter in a row.

The biggest increases were in the north of England and Wales. South England and Greater London had the slowest growth.

The Isle of Anglesey headed the list with a 49 per cent increase in the average cost of property in quarter 3 (July - September 2004). This was followed by Blaenau Gwent, Carmarthenshire and Caerphilly. Figures by county council or unitary authority showed that seven out of the top ten highest average price rises were in Wales.

The highest property price rise in England was Blackburn with Darwen, which had an average price rise of 40 per cent across all types of property.

Greater London and the South East had the smallest average price increases. In Windsor & Eaton this was just 5 per cent compared to the average national price increase of 16.27 per cent.

The average house price in England and Wales for the quarter was £187,971, an annual increase of 16.27 per cent compared to an average of 16.98 per cent for the last quarter.

The report compares average prices and volume of sales with those for the same quarter in 2003. It also gives a breakdown of the average sale prices of old and new properties by property type. The figures are taken into account by the Bank of England along with other housing market and economic indicators.

The Land Registry's figures tend to reflect property deals agreed several months ago and relate to the transfer for full market value of the ownership of freehold or long leasehold properties, whether or not the purchase was supported by a mortgage. The report is intended to complement information available from other sources. Land registry says that if you make any comparison with other data you should consider the differences in volume, timelines and coverage of contributing transactions.

England and Wales

• The average price increased by 16.27 per cent from £161,665 in 2003 to £187,971 for the same period in 2004.
• All economic regions in England and Wales showed an increase in average prices.
• The volume of sales increased by 6.35 per cent from 290,637 in 2003 to 309,101 for the same period in 2004.
• 1230 properties over £1 million were sold compared to 876 for the same period in 2003.

• The average property price increased by 9.70 per cent from £262,044 in 2003 to £287,470 for the same period in 2004.
• The volume of sales increased by 9.18 per cent from 36,353 in 2003 to 39,692 for the same period in 2004.
• 727 properties over £1 million were sold compared to 338 for the same period in 2003.