The September data shows an average house price in England & Wales of £177,299, compared with a peak of £181,324 in November 2007. London experienced the highest annual increase in property value with a movement of 18.4 per cent. Yorkshire & The Humber saw the lowest annual price growth of 1.4 per cent.
- The Land Registry House Price Index shows a monthly price fall of 0.2%.
- The average house price in England and Wales is now £177,299.
- The number of property transactions has increased over the last year.
- From April 2013 to July 2013 there was an average of 64,317 sales per month. In the same months a year later, the figure was 75,950.
- The average price of a property in London is a huge £460,251!
Key regional observations
- The region with the most significant annual price increase is London with a movement of 18.4 per cent.
- Yorkshire & The Humber saw the lowest annual price growth with a movement of 1.4%
- The East experienced the greatest monthly price rise with a movement of 1.4 per cent%
- Yorkshire & The Humber also saw the largest monthly decrease with a fall of 2.2%
Key county and unitary authority observations
- Greater London experienced the greatest annual price increase in September with a movement of 18.4 per cent.
- Merthyr Tydfil saw the greatest annual price fall with a movement of -6.5%
Key London borough observations
- The borough with the highest annual price rise is Lambeth, with a movement of 28.6%.
- Hounslow experienced the highest monthly increase, with a movement of 2.5%.
- Both Redbridge and Harrow saw the lowest annual growth of 13.0%.
- Kensington and Chelsea had the only monthly fall with a movement of -0.3%.
- In the months April 2014 to July 2014, repossession volumes averaged 890 per month. This is a fall compared to the same period a year earlier, when volumes averaged 1,324 per month.
- Repossession volumes appear to be exhibiting a downward trend
Regional repossession sales
- The region with the greatest fall in the number of repossession sales was the East.
- All regions experienced a decrease in the number of repossession sales in July when compared with the same period a year earlier