Housing Needs Assessment 2006 - Westminster City Council

Westminster – Housing Needs Assessment 2006Figure 5.1 Land Registry price changes 2000–2005 (4th quarters)£700,000£600,000£500,000England & WalesLondonWestminsterAverage price£400,000£300,000£200,000£100,000£02000 2001 2002 2003 2004 2005YearSource: HM Land Registry, property price data, 2006The table below shows average property prices for the City for each dwelling type (from LandRegistry data). This data is compared with regional price information. The volume of sales by typeis also included for both areas.Dwelling typeTable 5.2 Land Registry average prices and sales (4th quarter 2005)City of WestminsterLondonAverage price % of sales Average price % of salesDetached £1,761,000 0.5% £564,566 4.1%Semi-detached £2,281,363 1.0% £325,732 16.2%Terraced £1,085,436 8.8% £299,584 31.3%Flat/maisonette £516,384 89.7% £246,964 48.4%All dwellings £590,661 100.0% £289,247 100.0%Source: HM Land Registry, property price data, 2006The largest volume of sales in the City was for flats (89.7%) with an average price of £516,384. Theprice of all property types in Westminster are significantly above the average for London. Salesregionally show a higher proportion of houses.PAGE 54