Land Registry today published its latest quarterly residential property price report, covering the period October -December 2003, on its website at www.landregistry.gov.uk.
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 12.62% from £145,251 in 2002 to £163,584 for the same period in 2003;
* All economic regions in England and Wales showed an increase in average prices;
* The volume of sales increased by 2% from 295,503 in 2002 to 301,405 for the same period in 2003.
Greater London
* The average property price increased by 7.78% from £241,838 in 2002 to £260,659 for the same period in 2003;
* The volume of sales decreased by 1.73% from 36,822 in 2002 to 36,185 for the same period in 2003;
* 760 properties over £1 million were sold.
