Land Registry Finds Market Strong

Monday February 9, 2004

The Land Registry survey for the last quarter of 2003 has found that the steepest price rises in the country were in the north and the west of the UK, with Wales and the north west of England showing considerable rises, and the top end of the market remaining steady.

The Registry also found that the average house price rose over 12% in the last quarter compared with the same period in 2002, indicating no slowdown in the property market towards the end of last year.

All regions in England and Wales showed an increase in average prices, with Wales showing an increase of 25%, compared to slower growth in London, which was only 8% according to the figures.

The top end of the market looks to have remained healthy, with 760 properties over £1 million sold all over the country – compared with 63O in the same period in 2002, and more million plus properties than ever going north of the border.

Land Registry data is not seasonally adjusted and is derived from taking averages on the agreed price of every house sold, making it theoretically accurate but less up to date than some other information sources.

Land Registry

Office of the Deputy Prime Minister