Property News Item: 00118

9th May 2006

Average house price in England and Wales up by 5.05% to £192,745

Source: http://www.landregistry.gov.uk

Land Registry's latest residential property price report covering the period January to March 2006 published today, Tuesday 9 May 2006, shows the average house price in England and Wales was £192,745 - an annual increase of 5.05%, compared to an annual increase of 10.27% for the same period last year.

Sales in England and Wales were up by 37.49%, compared with the same period in 2005. Sales in Greater London increased by 40.66%.

The report compares average prices and volume of sales with those for the same quarter in 2005.

The following information is contained in the report:

England and Wales

* The average price increased by 5.05 per cent from £183,486 in 2005 to £192,745 for the same period in 2006.
* All economic regions in England and Wales showed an increase in average prices.
* The volume of sales increased by 37.49 per cent from 159,116 in 2005 to 218,770 for the same period in 2006.
* 1032 properties over £1 million were sold compared to 655 for the same period in 2005.

Greater London

* The average property price increased by 6.29 per cent from £288,507 in 2005 to £306,661 for the same period in 2006.
* The volume of sales increased by 40.66 per cent from 20,788 in 2005 to 29,241 for the same period in 2006.
* 652 properties over £1 million were sold compared to 402 for the same period in 2005.