National sales volumes above long term average

Residential transactions across England and Wales over the past 12 months have increased to 880,959, a 27.8 per cent rise over the preceding year and actually beating the long-term average of 869,286.

London Central Portfolio has crunched the latest Land Registry figures to suggest that although the market may now be seen as slowing, it’s still performing much more strongly than at the depth of the downturn, when transactions stood at just 467,949.

Average prices in England and Wales, excluding Greater London, have risen 4.4 per cent over the year to reach £229,147; if Greater London is added to the mix, the average figure is £269,890.

Within the capital average prices reached £548,040 in the third quarter, 10.7 per cent higher than this time last year. Annual transactions in Greater London held steady in the third quarter with 117,362 sales compared with 116,551 last quarter.         

That level of growth, however, is the lowest seen so far this year after 4.9 per cent and 7.6 per cent increases in Q1 and Q2 respectively.

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