ONS Releases Annual House Price Statistics for Small Areas

08/07/2015

The Office for National Statistics (ONS) has published the annual House Price Statistics for Small Areas (HPSSAs) and the figures show a vast difference in the range of property prices being paid across the country. The local authority with the highest house price in 2014 was Kensington and Chelsea, where on average a property now costs £1,195,000. In comparison, Blaenau Gwent recorded the lowest average price of £75,000.

Between 2013 and 2014, 336 of all 348 local authorities recorded an increase in the average property price. Of the remaining 12, six local authorities had a price decrease and six remained the same. The largest increase was in South Bucks where an increase of 23% took the average price from £390,000 to £480,000. In contrast, the local authority with the largest decrease was the Isles of Scilly where the average price fell from £275,000 to £235,000 - a drop of 15%.

Along with house price increases, the numbers of sales of all types of properties also grew. The highest was flats and maisonettes which experienced an increase of 18%, followed by terraced houses (14%). Sales of detached homes rose by 13%, while semi-detached houses increased 11%. Overall, sales of all property types swelled by 14% in 2014 compared with the previous year.

House price statistics for small areas are calculated using data from the Land Registry and report the total number and average price of all homes sold and registered in a one year period. They cover local authorities, parliamentary constituencies and middle layer super output areas (areas which have on average a population of 7,200) in England and Wales.