The England & Wales house prices downLand Registry has recently released its June House price Index (HPI), which reconfirms what the other Indices have seen with the average house price being up over the year.

The England & Wales house prices downLand Registry has recently released its June House price Index (HPI), which reconfirms what the other Indices have seen with the average house price being up over the year.

The Land Registry HPI is released some time after most other indices which according the the Land Registry makes it “the most accurate independent house price index available. Using our dataset of completed sales, it is the only index based on repeat sales.”

In June 2013 the HPI key figures where:

  • Increase in average house price by 0.6% since May
  • Average house price in England and Wales is now £162,621
  • Annual increase in price of 0.8%
  • Repossesion volumes decreased by 26% in April 2013, down to 1,185 compared to 1,599 in April 2012

The number of property transactions has decreased over the last year. From January to April 2012 there was an average of 48,299 sales per month. In the same months a year later, the figure was 47,308.

Regional key figures are:

  • London saw the greatest increase in average property value over the last 12 months with a 6.9% increase
  • London also had the largest monthly movement of 3.1%
  • North East had the largest fall in prices witha decrease of 3.8%

With regards to property types Flats/maisonettes saw the largest increase in value with a change of 2.0% across England and Wales. This far surpassed Semi-detached, detached and Terraced properties which had increases of 0.7%, 0.4% and 0.3% respectively.