Average London House Price Passes £400,000 mark

In December, our House Price Index (HPI) revealed that the average property price in Greater London had passed the £400K mark.

House Prices can be one of the most interesting pieces of information associated with property and a lot of people use our HPI and other data to research and analyse the property market countrywide. You can search our data for not only average house prices on a national and regional basis but you can drill down even further into property types and volumes of sales.

In December, the average house price in London topped £400K which is a 11.2 per cent increase over the year, which is considerably higher than other regions. The average price of property in the capital is £403,792 in comparison with the average for the whole of England and Wales of £167,353.

HPI graph

Average prices in Greater London over the years

Other interesting details

The region in England and Wales which experienced the greatest increase in its average property value over the last 12 months is London with a movement of 11.2 per cent.

The only region with an annual price fall is the North East with a decrease of 0.1 per cent.

Yorkshire & The Humber saw the most significant monthly price fall with a movement of -1.2 per cent.

The most up-to-date figures available show that during October 2013 the number of completed house sales in England & Wales increased by 21 per cent to 71,929 compared with 59,213 in October 2012.

The number of properties sold in England and Wales for over £1 million in October 2013 increased by 40 per cent to 913 from 651 in October 2012.

You can view the full range of Public Data via our website with much of it being downloadable in a number of formats. The data is used in a number of ways some of which are pretty innovative – for example, you could compare how house prices have changed over a Chinese calendar year to see whether it is better to buy or sell in the year of the horse or the year of the rat.

Happy New Chinese Year everybody!

Create your own graph on our linked open data website.

By AdamH,
Customer Service Representative at HM Land Registry Head Office