Property Market Monthly Fact File – December 2014

AVERAGE HOUSE PRICES

Office for National Statistics – September 2014
UK Average = £273k, up 12.1% over the year,  up 0.5% increase over the month
Excluding London and the South East:  Average = £208k, up 9.1% over the year.

Land Registry – October 2014
Average for England and Wales = £177,377, up 0.1% in the month, up 7.7% over the year.

Halifax – October 2014
UK Average = £186,135, down 0.4% in the month, up 0.8% in the quarter, up 8.8% in the year.

Nationwide – November 2014
UK average = £189,388, up 0.3% in the month, up 0.9% in the quarter, up 8.5% in the year.

Rightmove – 12th Oct to 8th Nov 2014
UK average = £267,127, down 1.7% in the period, up 8.5% in the year.

Acadata – October 2014
Average England and Wales = £277,390, up 0.7% in the month, up 10.5% in the year.
Excluding London and the South East: up 5.0% in the year.

REGIONAL HOUSE PRICES

Office for National Statistics – September 2014
England average = £285k, up 12.5% over the year.
Wales average = £172k, up 5.8% over the year.
Scotland average = £197k, up 7.6% over the year.
Northern Ireland average = £143k, up 10.9% over the year.

                                     Average price – Monthly change – Annual change

Rightmove regional figures

Greater London                         £601,180               +0.8%                  +16.2%
South East                                  £346,803                -2.5%                  +11.1%
South West                                £272,834                -3.9%                    +6.4%
East Anglia                                £248,205               +0.7%                    +9.8%
West Midlands                          £194,323                -2.0%                    +3.7%
East Midlands                           £172,903                -3.0%                    +2.4%
Wales                                           £166,992               +2.6%                    +1.1%
North West                                 £163,123                -3.3%                    +2.4%
Yorkshire & Humberside         £157,289                -1.7%                    +4.2%
North                                            £144,124                -3.6%                    +1.9%

Land Registry regional figures

Greater London                       £460,060               +0.7%                  +18.6%
South East                                 £240,070               +1.2%                  +11.4%
South West                                £185,615               +0.2%                    +6.4%
East                                             £198,338               +1.6%                  +11.0%
West Midlands                          £135,378               +0.2%                    +4.4%
East Midlands                           £131,274                -0.4%                    +5.7%
Wales                                          £118,437                -0.9%                    +2.0%
North West                                £112,642                -0.3%                    +4.5%
Yorkshire & Humberside        £120,807               +0.6%                    +4.3%
North East                                  £97,356                  -2.7%                    +2.7%

 

FOCUS ON LONDON

Largest changes according to:
                                     Average price – Monthly change – Annual change

Rightmove (12th Oct to 8th Nov 2014)
Camden                               £1,071,358                    +5.2%                       [+11.0%]
Bromley                                 £416,468                     -1.4%                       [+17.1%]
Hackney                                £768,909                   [+3.6%]                       +27.2%
Kensington & Chelsea      £2,212,845                   [+1.2%]                          -3.7%

LSL Acadata (Sept ’14):
Southwark                              £452,334                    +4.3%                       [+24.8%]
Richmond-upon-Thames    £651,089                     -1.7%                       [+16.2%]
Waltham Forest                     £287,604                   [+1.9%]                       +27.4%
Hounslow                               £434,912                    [-1.0%]                         +6.0%

Land Registry (Oct ’14):
Hackney                                 £594,057                    +2.3%                       [+22.5%]
Lambeth                                 £540,819                   [+0.9%]                       +27.9%
Kensington & Chelsea       £1,280,170                     -2.5%                         +9.5%

[Figures in bold are the top and bottom of the scale, figures in square brackets are for information only]

RICS Survey Overview

The RICS Residential Market Survey for October 2014 (published 13th November 2014) says that “demand and sales volumes continue to fall”, while the “market [is] in [the] midst of a temporary slowdown”.
Northern Ireland saw the largest price increases over the month, whilst London saw the only decrease – this is the same situation as last month.
Scotland had the highest level of agreed sales in October by quite a large margin, whereas the West Midlands and the North West saw the largest falls.
Scotland, Northern Ireland and the North of England had the only positive levels of new buyer enquiries in the month whereas London saw the largest drop.
The highest levels of new vendor instructions were in Scotland and the North, and the lowest in the North West.
Source: Royal Institution of Chartered Surveyors

Sources

Rightmove.co.uk is the UK’s largest property website, advertising around 90% of all homes for sale via estate agents across the UK. The site attracts over 80 million visits from home movers each month who view in excess of one billion pages (Rightmove data, Oct 2013). Each month Rightmove uses asking price data of up to 200,000 properties coming onto the market to produce this House Price Index – the largest, most accurate and up-to-date monthly index.

LSL Acad E&W HPI is derived from Land Registry (LR) house price data, seasonally and mix adjusted by property type. © Crown copyright material reproduced with the permission of Land Registry. The prices are smoothed to show underlying trends. LSL Acad E&W HPI includes cash purchase prices and is the only index based upon the complete, factual house price data for England & Wales, as opposed to a sample.

The Office for National Statistics (ONS) House Price Index (HPI), previously published by the Department for Communities and Local Government (DCLG), is a monthly release that publishes figures for mix-adjusted average house prices and house price indices for the UK, its component countries and regions. The index is calculated using mortgage financed transactions that are collected via the Regulated Mortgage Survey by the Council of Mortgage Lenders.

We have redesigned the Fact File this month to be more concise. Much of the other information can be found in separate articles and blogs.

Do you like the new format? If you prefer the old style, it is still available on this link.

Next Monthly Market Fact File due in January 2015.

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