March house prices up 5.6%
Tue 29 Apr 2014
An annual price increase of 5.6% has been observed by the Land Registry, pushing up the average property value in England and Wales to over 169k. Repossession volumes decreased by 31% in January 2014 to 979 compared with 1,420 in January 2013.
The region in England and Wales which experienced the greatest increase in its average property value over the last 12 months is London with a movement of 12.4% - both East and North East regions experienced the greatest monthly rise with a movement of 1.1%. Wales experienced the only annual price fall of 1.6%. Wales also saw the most significant monthly price fall with a movement of -4.2%.
The most up-to-date figures available show that during January 2014 the number of completed house sales in England & Wales increased by 46% to 63,123 compared with 43,373 in January 2013. The number of properties sold in England and Wales for over 1 million in January 2014 increased by 61% to 1,011 from 628 in January 2013.