Land Registry Property Price Report Shows 22.3% Increase in House Prices
The average house price in England and Wales according, The Land Registry, now stands at £145,251.
The report compares average prices and volume of sales with those for the same period in 2001. 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:
England and Wales
- The average price increased by 22.24% from £118,827 in 2001 to £145,251 for the same period in 2002;
- All economic regions in England and Wales showed an increase in average prices;
- The volume of sales increased by 3.45% from 285,653 in 2001 to 295,503 for the same period in 2002.
Greater London
- The average property price increased by 18.84% from £203,499 in 2001 to £241,838 for the same period in 2002;
- The volume of sales increased by 3.41% from 35,608 in 2001 to 36,822 for the same period in 2002;
- 390 properties over £1 million were sold.
Average Price by Country and Region
| Country/Region | Oct-Dec 2001ave. Price | OCT-DEC 2002ave. Price | % Increase |
| England & Wales | £118,827 | £145,251 | 22.24 |
| East Midlands | £86,458 | £110,853 | 28.22 |
| South West | £122,659 | £157,043 | 28.03 |
| East Anglia | £112,172 | £138,346 | 23.33 |
| West Midlands | £96,420 | £118,504 | 22.90 |
| South East | £153,214 | £187,830 | 22.59 |
| Wales | £73,051 | £89,342 | 22.30 |
| Yorks & Humber | £74,678 | £91,281 | 22.23 |
| North West | £75,602 | £91,458 | 20.97 |
| North | £68,966 | £82,940 | 20.26 |
| Greater London | £203,499 | £241,838 | 18.84 |