Average price of a home hits £183,861

Written on 1 September 2015 by Alistair Boscawen in Property News


The number of homes in England and Wales that sold for £1m or more in the year to July slumped 21% from 1,113 to 878 when compared with the previous 12 months. 

New data from Land Registry shows number of homes in England and Wales that sold for £1m drops 21% but regions see property prices edge higher.
New data from Land Registry shows number of homes in England and Wales that sold for £1m drops 21% but regions see property prices edge higher.

The latest figures from the Land Registry also show that the total number of property transactions are down.

Between February 2015 and May 2015, there was an average of 61,283 residential sales per month, compared with an average of 70,029 sales per month in the same months the previous year.

The 65,619 house sales that were completed in May this year is 15% below the 77,488 completed house sales recorded by the Land Registry in May 2014.

But residential property prices jumped 4.6% in July year on year, taking the average value of a home in England and Wales to £183,861, according to the Land Registry.

Month on month they increased by 1.7%, with the east of England seeing the largest monthly rise of 2.8% and the biggest annual price increase with a rise of 8.9%, the data shows.

North-east England saw the lowest annual price increase of 0.4% and Wales experienced the only monthly price fall with values slipping 0.3%.

For more information, click on the link below:

Property Wire

 Image credit: Falco (www.pixabay.com)

Alistair Boscawen

Alistair has 32 years’ experience as an estate agent, starting in the country house department of one of London’s main international agencies before moving to the Knightsbridge house department of the same agency and learning the difference in values between freehold, long lease and short lease houses in Knightsbridge, Belgravia, Chelsea and Mayfair.

All articles by Alistair Boscawen

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