Land Registry Property Report Shows 19.7% Increase in Prices
Average house price in England and Wales now £145,897
Land Registry today (9 May) published its latest quarterly residential property price report, covering the period January - March 2003.
The report compares average prices and volume of sales with those for the same period in 2002. 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 19.70% from £121,881 in 2002 to £145,897 for the same period in 2003;
- All economic regions in England and Wales showed an increase in average prices;
- The volume of sales decreased by 4.63% from 227,810 in 2002 to 217,262 for the same period in 2003.
Greater London
- The average property price increased by 12.07% from £214,257 in 2002 to £240,126 for the same period in 2003
- The volume of sales decreased by 4.84% from 29,863 in 2002 to 28,417 for the same period in 2003
- 303 properties over £1 million were sold.
AVERAGE PRICE BY COUNTRY AND REGION
| COUNTRY/REGION | JAN-MAR 2003AVE. PRICE | JAN-MAR 2003AVE. PRICE | % INCREASE |
| ENGLAND & WALES | £121,881 | £145,897 | 19.70 |
| EAST MIDLANDS | £87,261 | £111,405 | 27.67 |
| SOUTH WEST | £126,187 | £159,173 | 26.14 |
| YORKS & HUMBER | £74,869 | £92,629 | 23.72 |
| WALES | £73,276 | £90,585 | 23.62 |
| WEST MIDLANDS | £96,415 | £118,533 | 22.94 |
| EAST ANGLIA | £112,695 | £137,338 | 21.87 |
| SOUTH EAST | £155,080 | £188,792 | 21.74 |
| NORTH | £68,278 | £82,161 | 20.33 |
| NORTH WEST | £76,446 | £90,644 | 18.57 |
| GREATER LONDON | £214,257 | £240,126 | 12.07 |