The Land Registry today released its final House price Index figures for 2013. Release later than a lot of the HPI stats, the Land Registry believe theirs is the most accurate due using completed sales and including repeat sales. Within these stats they found that 2013 close strong with a reasonable increase both for the month and the year as a whole.

Land Registry December 2013 HPI

The Land Registry today released its final House price Index figures for 2013. Release later than a lot of the HPI stats, the Land Registry believe theirs is the most accurate due using completed sales and including repeat sales.

Within these stats they found that 2013 close strong with a reasonable increase both for the month and the year as a whole.

Key Facts:

  • The Monthly increase was 1.1% against the HPI figures released in November 2013
  • Against the same period last year, December 2012, the change was larger at 4.4%
  • This increase puts the average house price for England and Wales at £167,353

The figures show that the number of transactions over the year has increased, with 72,507 sales between July and October 2013 – compared to 59,065 during the same period last year.

Regional picture

Regionally London as not surprisingly out surpassed the other regions with a 11.2% increase over the year, supported by a 2.6% increase in the closing month. The average price for London is therefore £403,792 – quite a difference from the England and Wales average of £167,533.

The next best region is the spill over of the South East with a 5.9% increase during the year and an average property price of £220,509. The East was the next best with 5.2% increase.

Regional Picture of the Dec 2013 HPI

The only region with a yearly fall in prices was the North East at -0.1%, reflecting other HPI stats that have shows the North East to have been fairly static over 2013.

Yorkshire & Humberside although posting a 0.5% yearly increase, had a fall in prices in the last month of 2013, down -1.2%.

View by Property Type

Obviously different property types will increase differently and the Land Registry figures provide this. Over 2013 Flat and Maisonettes continued to increase more than other types with an increase of 5.8% and an average asking price of £159,900.

Detached properties had the next best year with a 4.4% increase, the same as the overall average. This puts the average price of detached property in England and Wales at £263,040.

Semi-Detached saw an increase across the year with a 4.3% increase to an average value of £157,771

Finally Terraced properties saw the lowest increase in 2013 with an increase of 3.5% and a value of £125,675.