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Registry reveals 60% surge in sales

Sales volumes soared 60% year-on-year to an average of 63,687 per month between September and December, according to the latest figures from the Land Registry.

They averaged 39,892 in the same period in 2008, according to the Registry's house price index for February, out today [March 26].

However, prices declined 0.3% to £164,455 on the month last month, though they increased 7% on the year, which is the fourth consecutive month that the Registry has reported an annual price increase.

On a regional basis, the average property price in London increased 11.9% to £333,394 last month, which is the fifth consecutive annual increase and the highest annual increase across England and Wales. But they decreased 0.5% on a monthly basis. The North East suffered the biggest fall, with prices down 2.3% to £108,735.

Meanwhile, on a monthly basis, prices increased the most in the North West, with prices up 3.6% to £121,842, with prices in Wales suffering the greatest fall, down 2.4% to £120,601.

On a county basis, prices increased the most within Brighton & Hove over the year, up 13.5% to £217,869, with the greatest annual fall recorded in Hartlepool, where prices dipped 10.4% to £90,920.



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