Property price report shows 10.83 per cent increase in prices

Citation

(2002), "Property price report shows 10.83 per cent increase in prices", Property Management, Vol. 20 No. 1. https://doi.org/10.1108/pm.2002.11320aab.015

Property price report shows 10.83 per cent increase in prices

Property price report shows 10.83 per cent increase in prices

The Land Registry published its latest quarterly residential property price report, covering the period April-June 2001, in electronic format only, on its Web site at www.landreg.gov.uk This is a new service and enables the Registry to publish its data three weeks earlier than usual. Printed copies are available three weeks later.

The report compares average prices and volume of sales with those for the same period in 2000 (see Table I). It also gives a breakdown of the average sale prices of old and new properties, by property type.

The following information is contained in the report:

1. 1.

   England and Wales:

• •

  The average price increased by 10.83 per cent from £105,924 in 2000 to £117,398 for the same period in 2001.

• •

  All economic regions in England and Wales showed an increase in average prices.

• •

  The volume of sales increased by 14.62 per cent from 232,548 in 2000 to 266,536 for the same period in 2001.

1. 1.

   Greater London:

• •

  The average property price increased by 6.65 per cent from £193,004 in 2000 to £205,831 for the same period in 2001.

• •

  A total of 516 properties over £1 million were sold in comparison with 293 for the same period in 2000.

This report is published in electronic format on the Land Registry's Web site at www.landreg.gov.uk The Web site also contains all previous quarterly reports, together with an online service, providing residential property prices and volumes of sales, broken down by property type, for the whole of England and Wales. Property price data are also available via our WAP service.

All reports since January-March 2000 include sales of under £10,000 and over £1 million. The Land Registry started collecting property price data in the first quarter of 1995. It holds no data prior to that date.

The sales included in the report 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 price data are actual, unadjusted averages drawn from the great majority of all residential sales in England and Wales completed during the period.

This Land Registry report is intended to complement information available from other sources. If you make any comparison with other data you should consider the differences in volume, timeliness and coverage of contributing transactions.

The Land Registry's Property Information Centre also provides reports that show aggregated data for any local authority district in England and Wales, postcode area (e.g. GL), postcode district (e.g. GL1), or postcode sector (e.g. GL12). There is a fee for this service.

For general enquiries and enquiries regarding back issues, bespoke reports and requests for additional data please call the Property Information Centre on 0151 473 6008.

For more information on the Web site please contact David Mercer on 020 7331 8349 or e-mail: property.price@landreg.gov.uk