|
The tables below show average values for different types of
equipped farm in each region with values expressed in terms of £s
per acre and £s per hectare. Dairy farm values exclude the value
of milk quota. Where there is no entry the land type is not typical
within the area.
| Value of equipped
land with vacant possession as at 1 October 2003 |
| |
Arable |
|
Dairy |
|
Mixed |
|
Hill |
| £s
per ac |
£s
per ha |
£s
per ac |
£s
per ha |
£s
per ac |
£s
per ha |
£s
per ac |
£s
per ha |
| North East |
3,050 |
7,534 |
|
|
2,625 |
6,484 |
350 |
865 |
| North West |
3,250 |
8,028 |
3,800 |
9,386 |
3,086 |
7,622 |
650 |
1,606 |
| Yorkshire and Humberside |
3,340 |
8,250 |
2,883 |
7,121 |
2,825 |
6,978 |
1,450 |
3,582 |
| East Midlands |
3,016 |
7,450 |
3,031 |
7,487 |
2,844 |
7,025 |
|
|
| West Midlands |
3,836 |
9,475 |
3,630 |
8,966 |
3,450 |
8,522 |
|
|
| Eastern |
3,142 |
7,761 |
|
|
2,713 |
6,701 |
|
|
| South East |
3,693 |
9,122 |
|
|
3,761 |
9,290 |
|
|
| South West |
3,725 |
9,201 |
3,814 |
9,421 |
3,467 |
8,563 |
1,250 |
3,088 |
| Wales |
|
|
3,125 |
7,719 |
2,471 |
6,103 |
750 |
1,853 |
| England & Wales |
3,442 |
8,502 |
3,556 |
8,783 |
3,137 |
7,748 |
972 |
2,401 |
| Scotland |
2,436 |
6,017 |
2,117 |
5,229 |
1,469 |
3,628 |
126 |
311 |
| Northern Ireland |
4,775 |
11,794 |
5,792 |
14,306 |
4,125 |
10,189 |
2,100 |
5,187 |
| |
| Value of equipped
land subject to tenancy as at 1 October 2003 |
| |
Arable |
|
Dairy |
|
Mixed |
|
Hill |
| £s per ac |
£s per ha |
£s per ac |
£s per ha |
£s per ac |
£s per ha |
£s per ac |
£s per ha |
| North East |
1,175 |
2,902 |
|
|
975 |
2,408 |
100 |
247 |
| North West |
1,625 |
4,014 |
1,557 |
3,846 |
1,346 |
3,325 |
325 |
803 |
| Yorkshire and Humberside |
1,250 |
3,088 |
1,083 |
2,675 |
1,117 |
2,759 |
550 |
1,359 |
| East Midlands |
1,171 |
2,892 |
1,313 |
3,243 |
1,025 |
2,532 |
|
|
| West Midlands |
1,221 |
3,016 |
1,070 |
2,643 |
1,082 |
2,673 |
|
|
| Eastern |
1,250 |
3,088 |
|
|
1,013 |
2,502 |
|
|
| South East |
1,550 |
3,829 |
|
|
1,558 |
3,848 |
|
|
| South West |
1,416 |
3,498 |
1,450 |
3,582 |
1,300 |
3,211 |
863 |
2,132 |
| Wales |
|
|
1,463 |
3,614 |
1,154 |
2,850 |
300 |
741 |
| England & Wales |
1,323 |
3,268 |
1,406 |
3,473 |
1,237 |
3,055 |
464 |
1,146 |
| Scotland |
1,139 |
2,813 |
1,026 |
2,534 |
677 |
1,672 |
57 |
141 |
| |
| Value of unequipped
land with vacant possession as at 1 October 2003. The table
below shows average values for different types of bare land
in each region with values expressed in terms of £s per acre
and per hectare. Dairy farm values exclude the value of milk
quota.Where there is no entry the land type is not typical
within the area. |
| |
Arable |
|
Dairy |
|
Mixed |
|
Hill |
| £s
per ac |
£s
per ha |
£s
per ac |
£s
per ha |
£s
per ac |
£s
per ha |
£s
per ac |
£s
per ha |
| North East |
2,200 |
5,434 |
|
|
1,813 |
4,478 |
260 |
642 |
| North West |
2,200 |
5,434 |
2,929 |
7,235 |
2,550 |
6,299 |
250 |
618 |
| Yorkshire and Humberside |
2,710 |
6,694 |
2,150 |
5,311 |
2,210 |
5,459 |
1,100 |
2,717 |
| East Midlands |
2,469 |
6,098 |
2,000 |
4,940 |
1,825 |
4,508 |
|
|
| West Midlands |
2,857 |
7,057 |
2,417 |
5,970 |
2,343 |
5,787 |
|
|
| Eastern |
2,392 |
5,908 |
|
|
2,138 |
5,281 |
|
|
| South East |
2,357 |
5,822 |
|
|
2,194 |
5,419 |
|
|
| South West |
2,238 |
5,528 |
2,267 |
5,599 |
2,089 |
5,160 |
1,000 |
2,470 |
| Wales |
|
|
2,620 |
6,471 |
2,229 |
5,506 |
550 |
1,359 |
| England & Wales |
2,441 |
6,029 |
2,371 |
5,856 |
2,186 |
5,399 |
633 |
1,564 |
| Scotland |
1,957 |
4,834 |
1,558 |
3,848 |
1,178 |
2,910 |
101 |
249 |
The average values as at 1 October 2003 detailed in the tables
on the preceding page are presented in graphical form below for
each of the four types of farm specified.
Vacant possession value trends - equipped land
The graphs below indicate the trend of average vacant possession
values reported by District Valuers since Spring 1988 From 1st
April 2002 the series are based on updated farm types, details
of which are provided the Methodology section.
Vacant possession value trends - unequipped land
The graphs below indicate the trend of average vacant possession
values reported by District Valuers from Spring 2002.
|
The tables and graphs below show the average value by region
of three categories of site as at 1 October 2003. These values
should be regarded as illustrative rather than definitive. The
Inner London average values exclude the central area i.e Westminster,
Kensington and Chelsea and bulk land in Camden. Government Office
Regions are defined in the Property Market Report Methodology .
| Value
of land for residential development as at October 2003 |
Region
|
Small
Sites
£
s per ha
|
Bulk
Land
£
s per ha
|
Sites
for flats or maisonettes
£
s per ha
|
|
North
East
|
1,300,000
|
1,230,000
|
1,400,000
|
North West
|
1,360,000
|
1,340,000
|
1,260,000
|
Merseyside
|
1,090,000
|
930,000
|
1,210,000
|
Yorkshire and the Humber
|
1,290,000
|
1,270,000
|
1,630,000
|
East Midlands
|
1,910,000
|
1,770,000
|
1,940,000
|
West Midlands
|
1,940,000
|
1,870,000
|
1,700,000
|
Eastern
|
2,610,000
|
3,180,000
|
3,400,000
|
South East
|
2,900,000
|
2,760,000
|
3,380,000
|
South West
|
2,250,000
|
2,030,000
|
2,470,000
|
Wales
|
1,310,000
|
1,280,000
|
1,380,000
|
|
England & Wales (excluding
London)
|
1,950,000
|
1,910,000
|
2,180,000
|
Inner London
|
8,900,000
|
6,995,000
|
9,700,000
|
Outer London
|
5,710,000
|
5,290,000
|
6,570,000
|
Scotland
|
1,280,000
|
1,340,000
|
2,500,000
|
Northern Ireland
|
1,123,000
|
1,058,000
|
1,300,000
|
The values should be regarded as illustrative rather then definitive
and represent typical levels of value for sites with no abnormal
site constraints and a residential planning permission of a type
generally found within the area.
| REGION |
£s per hectare
Small Sites |
£s per hectare
Bulk Land |
£s per hectare
Sites for flats or |
| |
sites for less than five
houses |
sites in excess of two hectares |
maisonettes |
| |
| NORTH EAST |
| Newcastle (Heaton) |
1,250,000 |
1,200,000 |
1,980,000 |
| Alnwick |
1,360,000 |
1,300,000 |
1,360,000 |
| Sunderland |
1,300,000 |
1,200,000 |
1,250,000 |
| Middlesbrough |
850,000 |
850,000 |
400,000 |
| Durham |
1,750,000 |
1,600,000 |
2,000,000 |
| |
| NORTH WEST |
|
|
|
| Bolton |
650,000 |
600,000 |
570,000 |
| Manchester |
2,000,000 |
2,200,000 |
2,000,000 |
| Rochdale |
735,000 |
735,000 |
750,000 |
| Trafford |
2,200,000 |
2,750,000 |
1,375,000 |
| Stockport |
2,500,000 |
2,500,000 |
2,600,000 |
| Blackburn |
860,000 |
700,000 |
480,000 |
| Lancaster |
1,350,000 |
1,350,000 |
** |
| Preston |
1,600,000 |
1,500,000 |
1,500,000 |
| Chester |
950,000 |
1,250,000 |
1,075,000 |
| Crewe/Macclesfield |
1,000,000 |
895,000 |
1,045,000 |
| Warrington |
2,500,000 |
1,900,000 |
975,000 |
| Wigan |
735,000 |
735,000 |
** |
| Carlisle |
457,000 |
375,000 |
** |
| Ambleside |
1,438,000 |
1,300,000 |
1,438,000 |
| REGION |
£s per hectare
Small Sites |
£s per hectare
Bulk Land |
£s per hectare
Sites for flats or |
| |
sites for less than five houses |
sites in excess of two hectares |
maisonettes |
| MERSEYSIDE |
| Liverpool |
1,500,000 |
1,350,000 |
1,750,000 |
| Knowsley |
720,000 |
625,000 |
500,000 |
| Sefton |
650,000 |
550,000 |
|
| |
| YORKSHIRE AND THE HUMBER |
| Harrogate |
1,900,000 |
1,800,000 |
3,000,000 |
| York |
1,500,000 |
1,500,000 |
1,750,000 |
| Bradford |
1,000,000 |
1,000,000 |
1,000,000 |
| Halifax |
825,000 |
675,000 |
900,000 |
| Leeds |
2,000,000 |
2,000,000 |
3,000,000 |
| Doncaster |
1,250,000 |
1,500,000 |
1,850,000 |
| Grimsby |
675,000 |
600,000 |
725,000 |
| Beverley |
1,209,000 |
1,100,000 |
1,200,000 |
| Sheffield |
1,250,000 |
1,250,000 |
1,250,000 |
| |
| EAST MIDLAND |
| Lincoln |
1,600,000 |
1,500,000 |
1,600,000 |
| Mansfield |
1,000,000 |
950,000 |
950,000 |
| Nottingham |
2,500,000 |
2,250,000 |
2,500,000 |
| Derby |
2,000,000 |
1,750,000 |
2,000,000 |
| Leicester |
1,750,000 |
1,850,000 |
2,200,000 |
| Northampton |
2,100,000 |
2,100,000 |
2,100,000 |
| Loughborough |
2,400,000 |
2,000,000 |
2,500,000 |
| |
| WEST MIDLAND |
| Birmingham |
2,000,000 |
2,000,000 |
2,100,000 |
| Coventry |
1,975,000 |
1,750,000 |
1,500,000 |
| Sandwell |
1,360,000 |
1,300,000 |
** |
| Wolverhampton |
1,550,000 |
1,650,000 |
1,400,000 |
| Lichfield |
1,750,000 |
1,750,000 |
1,600,000 |
| Shrewsbury |
2,200,000 |
2,200,000 |
1,800,000 |
| Stoke-on-Trent ( the market is composed of
mainly brownfield sites) |
950,000 |
900,000 |
950,000 |
| Warwick |
3,000,000 |
2,750,000 |
2,200,000 |
| Worcester |
2,500,000 |
2,100,000 |
2,000,000 |
| Kidderminster |
2,150,000 |
2,250,000 |
1,750,000 |
| |
| REGION |
£s per hectare
Small Sites |
£s per hectare
Bulk Land |
£s per hectare
Sites for flats or |
| |
sites for less than five houses |
sites in excess of two hectares |
maisonettes |
| EAST OF ENGLAND |
| Cambridge/South Cambridgeshire |
2,700,000 |
4,113,000 |
4,675,000 |
| Peterborough |
1,155,000 |
1,420,000 |
1,522,000 |
| Ipswich |
2,300,000 |
2,200,000 |
2,100,000 |
| Norwich |
2,000,000 |
3,375,000 |
3,700,000 |
| Luton |
2,100,000 |
* |
1,400,000 |
| Stevenage |
2,400,000 |
2,250,000 |
2,400,000 |
| St Albans |
5,500,000 |
6,250,000 |
10,000,000 |
| Chelmsford |
3,335,000 |
3,335,000 |
3,335,000 |
| Colchester |
2,000,000 |
2,500,000 |
1,500,000 |
| |
| LONDON INNER |
| Tower Hamlets (E2-E3) |
6,180,000 |
6,180,000 |
6,180,000 |
| Camden |
15,000,000 |
10,500,000 |
17,500,000 |
| Hackney |
6,800,000 |
6,800,000 |
6,800,000 |
| Lewisham |
5,500,000 |
5,000,000 |
7,000,000 |
| Southwark (SE15) |
11,000,000 |
10,000,000 |
11,000,000 |
| |
| LONDON OUTER |
| Romford |
4,000,000 |
4,000,000 |
4,000,000 |
| Redbridge |
5,000,000 |
4,000,000 |
4,000,000 |
| Barnet |
7,000,000 |
6,000,000 |
8,250,000 |
| Ealing ( Hanwell ) |
6,700,000 |
6,300,000 |
7,800,000 |
| Ruislip |
5,000,000 |
5,000,000 |
7,000,000 |
| Greenwich - Bexley |
6,000,000 |
5,500,000 |
7,500,000 |
| Sutton |
6,000,000 |
5,500,000 |
7,000,000 |
| Wimbledon |
6,000,000 |
6,000,000 |
7,000,000 |
| |
| SOUTH EAST |
| Brighton |
3,350,000 |
3,100,000 |
5,500,000 |
| Eastbourne |
2,000,000 |
1,750,000 |
2,500,000 |
| Folkestone |
1,700,000 |
1,450,000 |
1,450,000 |
| Chatham |
1,125,000 |
1,125,000 |
1,125,000 |
| Tunbridge Wells |
2,300,000 |
2,300,000 |
2,500,000 |
| Guildford |
3,570,000 |
3,570,000 |
3,250,000 |
| Reigate |
3,350,000 |
3,125,000 |
3,300,000 |
| Worthing |
1,800,000 |
1,600,000 |
2,800,000 |
| Aylesbury |
3,200,000 |
3,100,000 |
4,200,000 |
| Oxford |
8,000,000 |
8,000,000 |
8,000,000 |
| Wokingham |
3,300,000 |
3,300,000 |
5,450,000 |
| Basingstoke |
3,250,000 |
3,000,000 |
3,250,000 |
| Portsmouth |
2,300,000 |
2,200,000 |
2,850,000 |
| Southampton |
2,950,000 |
2,725,000 |
3,200,000 |
| Ryde, Isle of Wight |
1,250,000 |
1,000,000 |
1,250,000 |
| |
| REGION |
£s per hectare
Small Sites |
£s per hectare
Bulk Land |
£s per hectare
Sites for flats or |
| |
sites for less than five houses |
sites in excess of two hectares |
maisonettes |
| SOUTH WEST |
| Bournemouth |
2,650,000 |
2,375,000 |
4,250,000 |
| Weymouth |
1,700,000 |
1,575,000 |
2,100,000 |
| Exeter |
2,500,000 |
2,300,000 |
2,500,000 |
| Barnstaple |
1,400,000 |
1,300,000 |
1,400,000 |
| Plymouth |
1,800,000 |
1,700,000 |
1,900,000 |
| Truro |
1,750,000 |
1,500,000 |
2,000,000 |
| Taunton |
2,200,000 |
2,000,000 |
2,200,000 |
| Bath |
3,300,000 |
2,600,000 |
3,500,000 |
| Bristol |
3,000,000 |
2,500,000 |
3,500,000 |
| Gloucester |
2,200,000 |
2,200,000 |
1,400,000 |
| Swindon |
2,300,000 |
2,250,000 |
2,400,000 |
| |
| WALES |
| Cardiff |
2,600,000 |
3,450,000 |
4,000,000 |
| Carmarthen |
750,000 |
600,000 |
750,000 |
| Merthyr Tydfil |
750,000 |
550,000 |
400,000 |
| Bridgend |
1,050,000 |
1,000,000 |
650,000 |
| Swansea |
1,100,000 |
1,000,000 |
1,400,000 |
| Llandudno |
1,100,000 |
1,000,000 |
1,200,000 |
| Newport |
2,000,000 |
1,750,000 |
1,400,000 |
| Wrexham |
1,100,000 |
900,000 |
1,200,000 |
| |
| SCOTLAND |
| Glasgow, Bearsden/Milngavie |
2,000,000 |
2,500,000 |
4,000,000 |
| Ayr |
900,000 |
1,500,000 |
2,300,000 |
| Dumfries |
202,000 |
150,000 |
345,000 |
| Dunfermline |
1,200,000 |
850,000 |
1,100,000 |
| Glasgow |
1,000,000 |
2,000,000 |
4,500,000 |
| Aberdeen |
2,250,000 |
1,250,000 |
3,000,000 |
| Inverness |
570,000 |
420,000 |
775,000 |
| Edinburgh |
3,410,000 |
3,410,000 |
7,425,000 |
| Motherwell |
700,000 |
1,000,000 |
800,000 |
| Dundee |
600,000 |
300,000 |
800,000 |
| |
|
|
|
* all bulk greenfield sites are now fully
developed in this locality
** no evidence to indicate a separate market for this
category of land
Cambridge/South Cambridge has always been the reporting
location from the start of the report in 1983. Values
in the city of Cambridge are in the region of £6,000,000
per ha.
|
Based on the regional averages for bulk land published in the
twice yearly reports since Autumn 1983 and Autumn 1994 in Scotland.
See Methodology for
the and assumptions made when preparing the valuations. A feature
of the residential land market is the 'lumpiness' of changes
in value. Although the index is based on six monthly figures
it is difficult to establish exactly when significant movements
in value occurred and an average over a longer period may provide
a more realistic assessment of the market.
 |
England
and Wales excluding London |
Inner
and Outer London |
South
East |
| Date |
£s per hectare |
Index |
% change |
£s per hectare |
Index |
% change |
£s per hectare |
Index |
% change |
| Aut 83 |
174,000 |
100.0 |
|
759,000 |
100.0 |
|
275,000 |
100.0 |
|
| Spr 84 |
194,000 |
111.5 |
11.5 |
834,500 |
109.9 |
9.9 |
327,000 |
118.9 |
18.9 |
| Aut 84 |
220,000 |
126.4 |
13.4 |
890,000 |
117.3 |
6.7 |
391,000 |
142.2 |
19.6 |
| Spr 85 |
246,000 |
141.4 |
11.8 |
1,076,000 |
141.8 |
20.9 |
447,000 |
162.5 |
14.3 |
| Aut 85 |
267,000 |
153.4 |
8.5 |
1,294,500 |
170.6 |
20.3 |
504,000 |
183.3 |
12.8 |
| Spr 86 |
301,000 |
173.0 |
12.7 |
1,728,500 |
227.7 |
33.5 |
585,000 |
212.7 |
16.1 |
| Aut 86 |
343,000 |
197.1 |
14.0 |
2,144,500 |
282.5 |
24.1 |
687,000 |
249.8 |
17.4 |
| Spr 87 |
399,000 |
229.3 |
16.3 |
2,893,500 |
381.2 |
34.9 |
812,000 |
295.3 |
18.2 |
| Aut 87 |
468,000 |
269.0 |
17.3 |
3,438,500 |
453.0 |
18.8 |
932,000 |
338.9 |
14.8 |
| Spr 88 |
624,000 |
358.6 |
33.3 |
3,011,000 |
396.7 |
-12.4 |
1,398,000 |
508.4 |
50.0 |
| Aut 88 |
929,000 |
533.9 |
48.9 |
3,370,000 |
444.0 |
11.9 |
1,704,000 |
619.6 |
21.9 |
| Spr 89 |
943,000 |
542.0 |
1.5 |
3,364,000 |
443.2 |
-0.2 |
1,780,000 |
647.3 |
4.5 |
| Aut 89 |
837,000 |
481.0 |
-11.2 |
2,991,500 |
394.1 |
-11.1 |
1,306,000 |
474.9 |
-26.6 |
| Spr 90 |
706,000 |
405.7 |
-15.7 |
2,559,000 |
337.2 |
-14.5 |
1,007,000 |
366.2 |
-22.9 |
| Aut 90 |
621,000 |
356.9 |
-12.0 |
2,329,000 |
306.9 |
-9.0 |
902,000 |
328.0 |
-10.4 |
| Spr 91 |
529,000 |
304.0 |
-14.8 |
2,089,000 |
275.2 |
-10.3 |
737,000 |
268.0 |
-18.3 |
| Aut 91 |
504,000 |
289.7 |
-4.7 |
1,939,000 |
255.5 |
-7.2 |
704,000 |
256.0 |
-4.5 |
| Spr 92 |
483,000 |
277.6 |
-4.2 |
1,669,000 |
219.9 |
-13.9 |
674,000 |
245.1 |
-4.3 |
| Aut 92 |
460,000 |
264.4 |
-4.8 |
1,490,500 |
196.4 |
-10.7 |
615,000 |
223.6 |
-8.8 |
| Spr 93 |
438,000 |
251.7 |
-4.8 |
1,337,000 |
176.2 |
-10.3 |
588,000 |
213.8 |
-4.4 |
| Aut 93 |
450,000 |
258.6 |
2.7 |
1,455,000 |
191.7 |
8.8 |
603,000 |
219.3 |
2.6 |
| Spr 94 |
495,000 |
284.5 |
10.0 |
1,505,000 |
198.3 |
3.4 |
706,000 |
256.7 |
17.1 |
| Aut 94 |
540,000 |
310.3 |
9.1 |
1,625,000 |
214.1 |
8.0 |
761,000 |
276.7 |
7.8 |
| Spr 95 |
560,000 |
321.8 |
3.7 |
1,685,000 |
222.0 |
3.7 |
799,000 |
290.5 |
5.0 |
| Aut 95 |
589,000 |
338.5 |
5.2 |
1,712,000 |
225.6 |
1.6 |
798,000 |
290.2 |
-0.1 |
| Spr 96 |
594,000 |
341.4 |
0.8 |
1,717,000 |
226.2 |
0.3 |
797,000 |
289.8 |
-0.1 |
| Aut 96 |
611,000 |
351.1 |
2.9 |
1,827,000 |
240.7 |
6.4 |
817,000 |
297.1 |
2.5 |
| Spr 97 |
663,000 |
381.0 |
8.5 |
1,925,000 |
253.6 |
5.4 |
950,000 |
345.5 |
16.3 |
| Aut 97 |
721,000 |
414.4 |
8.7 |
2,071,500 |
272.9 |
7.6 |
1,140,000 |
414.5 |
20.0 |
| Spr 98 |
790,000 |
454.0 |
9.6 |
2,143,500 |
282.4 |
3.5 |
1,220,000 |
443.6 |
7.0 |
| Aut 98 |
830,000 |
477.0 |
5.1 |
2,205,000 |
290.5 |
2.9 |
1,340,000 |
487.3 |
9.8 |
| Spr 99 |
860,000 |
494.3 |
3.6 |
2,360,000 |
310.9 |
7.0 |
1,370,000 |
498.2 |
2.2 |
| Aut 99 |
950,000 |
546.0 |
10.5 |
2,528,500 |
333.1 |
7.1 |
1,660,000 |
603.6 |
21.2 |
| Spr 2000 |
1,080,000 |
620.7 |
13.7 |
2,770,000 |
365.0 |
9.6 |
1,910,000 |
694.5 |
15.1 |
| Aut 2000 |
1,150,000 |
660.9 |
6.5 |
3,345,000 |
440.7 |
20.8 |
1,980,000 |
720.0 |
3.7 |
| Spr 2001 |
1,250,000 |
718.4 |
8.7 |
3,965,000 |
522.4 |
18.5 |
2,180,000 |
792.7 |
10.1 |
| Aut 2001 |
1,310,000 |
752.9 |
4.8 |
4,223,500 |
556.5 |
6.5 |
2,280,000 |
829.1 |
4.6 |
|
England
and Wales excluding London |
Inner
and Outer London |
South
East |
| Spr 2002 |
1,400,000 |
804.6 |
6.9 |
4,907,000 |
646.5 |
16.2 |
2,360,000 |
858.2 |
3.5 |
| Aut 2002 |
1,580,000 |
908.0 |
12.9 |
5,493,000 |
723.7 |
11.9 |
2,490,000 |
905.5 |
5.5 |
| Spr 2003 |
1,750,000 |
1005.7 |
10.8 |
6,000,000 |
790.5 |
9.2 |
2,670,000 |
970.9 |
7.2 |
| Aut 2003 |
1,910,000 |
1097.7 |
9.1 |
6,143,000 |
809.4 |
2.4 |
2,760,000 |
1003.6 |
3.4 |
| From Autumn 1988 the Inner and
Outer London average value excludes Westminster, Kensingon
and Chelsea and Camden
|
|
| |
North
East |
North
West and Merseyside |
Yorkshire
and the Humber |
| |
£s per hectare |
Index |
% change |
£s per hectare |
Index |
% change |
£s per hectare |
Index |
% change |
| Date |
|
|
|
|
|
|
|
|
|
| Aut 83 |
108,000 |
100.0 |
|
127,000 |
100.0 |
|
108,000 |
100.0 |
|
| Spr 84 |
108,000 |
100.0 |
0.0 |
130,000 |
102.4 |
2.4 |
114,000 |
105.6 |
5.6 |
| Aut 84 |
138,000 |
127.8 |
27.8 |
134,000 |
105.5 |
3.1 |
126,000 |
116.7 |
10.5 |
| Spr 85 |
149,000 |
138.0 |
8.0 |
135,000 |
106.3 |
0.7 |
138,000 |
127.8 |
9.5 |
| Aut 85 |
157,000 |
145.4 |
5.4 |
143,000 |
112.6 |
5.9 |
142,000 |
131.5 |
2.9 |
| Spr 86 |
170,000 |
157.4 |
8.3 |
147,000 |
115.7 |
2.8 |
150,000 |
138.9 |
5.6 |
| Aut 86 |
188,000 |
174.1 |
10.6 |
174,000 |
137.0 |
18.4 |
156,000 |
144.4 |
4.0 |
| Spr 87 |
195,000 |
180.6 |
3.7 |
186,000 |
146.5 |
6.9 |
181,000 |
167.6 |
16.0 |
| Aut 87 |
203,000 |
188.0 |
4.1 |
211,000 |
166.1 |
13.4 |
189,000 |
175.0 |
4.4 |
| Spr 88 |
224,000 |
207.4 |
10.3 |
269,000 |
211.8 |
27.5 |
235,000 |
217.6 |
24.3 |
| Aut 88 |
237,000 |
219.4 |
5.8 |
354,000 |
278.7 |
31.6 |
431,000 |
399.1 |
83.4 |
| Spr 89 |
358,000 |
331.5 |
51.1 |
550,000 |
433.1 |
55.4 |
577,000 |
534.3 |
33.9 |
| Aut 89 |
437,000 |
404.6 |
22.1 |
623,000 |
490.6 |
13.3 |
607,000 |
562.0 |
5.2 |
| Spr 90 |
466,000 |
431.5 |
6.6 |
620,000 |
488.2 |
-0.5 |
636,000 |
588.9 |
4.8 |
| Aut 90 |
535,000 |
495.4 |
14.8 |
582,000 |
458.3 |
-6.1 |
587,000 |
543.5 |
-7.7 |
| Spr 91 |
520,000 |
481.5 |
-2.8 |
516,000 |
406.3 |
-11.3 |
540,000 |
500.0 |
-8.0 |
| Aut 91 |
486,000 |
450.0 |
-6.5 |
492,000 |
387.4 |
-4.7 |
537,000 |
497.2 |
-0.6 |
| Spr 92 |
485,000 |
449.1 |
-0.2 |
477,000 |
375.6 |
-3.0 |
514,000 |
475.9 |
-4.3 |
| Aut 92 |
509,000 |
471.3 |
4.9 |
471,000 |
370.9 |
-1.3 |
465,000 |
430.6 |
-9.5 |
| Spr 93 |
492,000 |
455.6 |
-3.3 |
445,000 |
350.4 |
-5.5 |
421,000 |
389.8 |
-9.5 |
| Aut 93 |
488,000 |
451.9 |
-0.8 |
451,000 |
355.1 |
1.3 |
433,000 |
400.9 |
2.9 |
| Spr 94 |
504,000 |
466.7 |
3.3 |
472,000 |
371.7 |
4.7 |
441,000 |
408.3 |
1.8 |
| Aut 94 |
514,000 |
475.9 |
2.0 |
481,000 |
378.7 |
1.9 |
538,000 |
498.1 |
22.0 |
| Spr 95 |
524,000 |
485.2 |
1.9 |
473,000 |
372.4 |
-1.7 |
564,000 |
522.2 |
4.8 |
| Aut 95 |
524,000 |
485.2 |
0.0 |
501,000 |
394.5 |
5.9 |
541,000 |
500.9 |
-4.1 |
| Spr 96 |
524,000 |
485.2 |
0.0 |
487,000 |
383.5 |
-2.8 |
521,000 |
482.4 |
-3.7 |
| Aut 96 |
524,000 |
485.2 |
0.0 |
502,000 |
395.3 |
3.1 |
538,000 |
498.1 |
3.3 |
| Spr 97 |
520,000 |
481.5 |
-0.8 |
509,000 |
400.8 |
1.4 |
564,000 |
522.2 |
4.8 |
| Aut 97 |
520,000 |
481.5 |
0.0 |
548,000 |
431.5 |
7.7 |
572,000 |
529.6 |
1.4 |
| Spr 98 |
520,000 |
481.5 |
0.0 |
573,000 |
451.2 |
4.6 |
590,000 |
546.3 |
3.1 |
| Aut 98 |
520,000 |
481.5 |
0.0 |
579,000 |
455.9 |
1.0 |
610,000 |
564.8 |
3.4 |
| Spr 99 |
530,000 |
490.7 |
1.9 |
622,000 |
489.8 |
7.4 |
620,000 |
574.1 |
1.6 |
| Aut 99 |
530,000 |
490.7 |
0.0 |
665,000 |
523.6 |
6.9 |
650,000 |
601.9 |
4.8 |
| Spr 2000 |
550,000 |
509.3 |
3.8 |
716,000 |
563.8 |
7.7 |
690,000 |
638.9 |
6.2 |
| Aut 2000 |
550,000 |
509.3 |
0.0 |
783,000 |
616.5 |
9.4 |
690,000 |
638.9 |
0.0 |
| Spr 2001 |
570,000 |
527.8 |
3.6 |
833,000 |
655.9 |
6.4 |
750,000 |
694.4 |
8.7 |
| Aut 2001 |
610,000 |
564.8 |
7.0 |
897,000 |
706.3 |
7.7 |
770,000 |
713.0 |
2.7 |
| Spr 2002 |
670,000 |
620.4 |
9.8 |
944,000 |
743.3 |
5.2 |
810,000 |
750.0 |
5.2 |
| Aut 2002 |
1,010,000 |
935.2 |
50.7 |
1,150,000 |
905.5 |
21.8 |
870,000 |
805.6 |
7.4 |
| Spr 2003 |
1,150,000 |
1064.8 |
13.9 |
1,250,000 |
984.3 |
8.7 |
1,050,000 |
972.2 |
20.7 |
| Aut 2003 |
1,230,000 |
1138.9 |
7.0 |
1,315,000 |
1035.4 |
5.2 |
1,270,000 |
1175.9 |
21.0 |
|
| |
East
Midlands |
West
Midlands |
Eastern |
| Date |
£s per hectare |
Index |
% change |
£s per hectare |
Index |
% change |
£s per hectare |
Index |
% change |
| Aut 83 |
120,000 |
100.0 |
|
162,000 |
100.0 |
|
294,000 |
100.0 |
|
| Spr 84 |
139,000 |
115.8 |
15.8 |
176,000 |
108.6 |
8.6 |
331,000 |
112.6 |
12.6 |
| Aut 84 |
155,000 |
129.2 |
11.5 |
192,000 |
118.5 |
9.1 |
395,000 |
134.4 |
19.3 |
| Spr 85 |
159,000 |
132.5 |
2.6 |
202,000 |
124.7 |
5.2 |
442,000 |
150.3 |
11.9 |
| Aut 85 |
161,000 |
134.2 |
1.3 |
205,000 |
126.5 |
1.5 |
438,000 |
149.0 |
-0.9 |
| Spr 86 |
174,000 |
145.0 |
8.1 |
217,000 |
134.0 |
5.9 |
609,000 |
207.1 |
39.0 |
| Aut 86 |
203,000 |
169.2 |
16.7 |
225,000 |
138.9 |
3.7 |
640,000 |
217.7 |
5.1 |
| Spr 87 |
233,000 |
194.2 |
14.8 |
245,000 |
151.2 |
8.9 |
746,000 |
253.7 |
16.6 |
| Aut 87 |
274,000 |
228.3 |
17.6 |
313,000 |
193.2 |
27.8 |
938,000 |
319.0 |
25.7 |
| Spr 88 |
391,000 |
325.8 |
42.7 |
388,000 |
239.5 |
24.0 |
1,268,000 |
431.3 |
35.2 |
| Aut 88 |
699,000 |
582.5 |
78.8 |
820,000 |
506.2 |
111.3 |
1,750,000 |
595.2 |
38.0 |
| Spr 89 |
772,000 |
643.3 |
10.4 |
922,000 |
569.1 |
12.4 |
1,687,000 |
573.8 |
-3.6 |
| Aut 89 |
670,000 |
558.3 |
-13.2 |
891,000 |
550.0 |
-3.4 |
1,371,000 |
466.3 |
-18.7 |
| Spr 90 |
593,000 |
494.2 |
-11.5 |
773,000 |
477.2 |
-13.2 |
1,066,000 |
362.6 |
-22.2 |
| Aut 90 |
438,000 |
365.0 |
-26.1 |
722,000 |
445.7 |
-6.6 |
849,000 |
288.8 |
-20.4 |
| Spr 91 |
392,000 |
326.7 |
-10.5 |
648,000 |
400.0 |
-10.2 |
645,000 |
219.4 |
-24.0 |
| Aut 91 |
396,000 |
330.0 |
1.0 |
630,000 |
388.9 |
-2.8 |
594,000 |
202.0 |
-7.9 |
| Spr 92 |
362,000 |
301.7 |
-8.6 |
592,000 |
365.4 |
-6.0 |
558,000 |
189.8 |
-6.1 |
| Aut 92 |
361,000 |
300.8 |
-0.3 |
546,000 |
337.0 |
-7.8 |
562,000 |
191.2 |
0.7 |
| Spr 93 |
341,000 |
284.2 |
-5.5 |
547,000 |
337.7 |
0.2 |
531,000 |
180.6 |
-5.5 |
| Aut 93 |
373,000 |
310.8 |
9.4 |
545,000 |
336.4 |
-0.4 |
543,000 |
184.7 |
2.3 |
| Spr 94 |
426,000 |
355.0 |
14.2 |
566,000 |
349.4 |
3.9 |
636,000 |
216.3 |
17.1 |
| Aut 94 |
458,000 |
381.7 |
7.5 |
624,000 |
385.2 |
10.2 |
733,000 |
249.3 |
15.3 |
| Spr 95 |
453,000 |
377.5 |
-1.1 |
627,000 |
387.0 |
0.5 |
790,000 |
268.7 |
7.8 |
| Aut 95 |
459,000 |
382.5 |
1.3 |
619,000 |
382.1 |
-1.3 |
783,000 |
266.3 |
-0.9 |
| Spr 96 |
461,000 |
384.2 |
0.4 |
618,000 |
381.5 |
-0.2 |
805,000 |
273.8 |
2.8 |
| Aut 96 |
471,000 |
392.5 |
2.2 |
632,000 |
390.1 |
2.3 |
833,000 |
283.3 |
3.5 |
| Spr 97 |
500,000 |
416.7 |
6.2 |
659,000 |
406.8 |
4.3 |
970,000 |
329.9 |
16.4 |
| Aut 97 |
514,000 |
428.3 |
2.8 |
691,000 |
426.5 |
4.9 |
1,010,000 |
343.5 |
4.1 |
| Spr 98 |
570,000 |
475.0 |
10.9 |
850,000 |
524.7 |
23.0 |
1,060,000 |
360.5 |
5.0 |
| Aut 98 |
590,000 |
491.7 |
3.5 |
890,000 |
549.4 |
4.7 |
1,070,000 |
363.9 |
0.9 |
| Spr 99 |
610,000 |
508.3 |
3.4 |
910,000 |
561.7 |
2.2 |
1,120,000 |
381.0 |
4.7 |
| Aut 99 |
680,000 |
566.7 |
11.5 |
940,000 |
580.2 |
3.3 |
1,240,000 |
421.8 |
10.7 |
| Spr 2000 |
720,000 |
600.0 |
5.9 |
1,020,000 |
629.6 |
8.5 |
1,510,000 |
513.6 |
21.8 |
| Aut 2000 |
830,000 |
691.7 |
15.3 |
1,070,000 |
660.5 |
4.9 |
1,700,000 |
578.2 |
12.6 |
| Spr 2001 |
950,000 |
791.7 |
14.5 |
1,220,000 |
753.1 |
14.0 |
1,850,000 |
629.3 |
8.8 |
| Aut 2001 |
1,000,000 |
833.3 |
5.3 |
1,240,000 |
765.4 |
1.6 |
1,980,000 |
673.5 |
7.0 |
| Spr 2002 |
1,090,000 |
908.3 |
9.0 |
1,310,000 |
808.6 |
5.6 |
2,280,000 |
775.5 |
15.2 |
| Aut 2002 |
1,260,000 |
1050.0 |
15.6 |
1,440,000 |
888.9 |
9.9 |
2,660,000 |
904.8 |
16.7 |
| Spr 2003 |
1,600,000 |
1333.3 |
27.0 |
1,580,000 |
975.3 |
9.7 |
3,020,000 |
1027.2 |
13.5 |
| Aut 2003 |
1,770,000 |
1475.0 |
10.6 |
1,870,000 |
1154.3 |
18.4 |
3,180,000 |
1081.6 |
5.3 |
|
| |
South
West |
Wales |
Scotland |
| Date |
£s per hectare |
Index |
% change |
£s per hectare |
Index |
% change |
£s per hectare |
Index |
% change |
| Aut 83 |
185,000 |
100.0 |
|
85,000 |
100.0 |
|
|
|
|
| Spr 84 |
206,000 |
111.4 |
11.4 |
85,000 |
100.0 |
0.0 |
|
|
|
| Aut 84 |
247,000 |
133.5 |
19.9 |
96,000 |
112.9 |
12.9 |
138,000 |
100 |
|
| Spr 85 |
269,000 |
145.4 |
8.9 |
100,000 |
117.6 |
4.2 |
129,000 |
93.5 |
-6.5 |
| Aut 85 |
287,000 |
155.1 |
6.7 |
102,000 |
120.0 |
2.0 |
133,000 |
96.4 |
3.1 |
| Spr 86 |
320,000 |
173.0 |
11.5 |
120,000 |
141.2 |
17.6 |
137,000 |
99.3 |
3.0 |
| Aut 86 |
347,000 |
187.6 |
8.4 |
127,000 |
149.4 |
5.8 |
145,000 |
105.1 |
5.8 |
| Spr 87 |
440,000 |
237.8 |
26.8 |
137,000 |
161.2 |
7.9 |
155,000 |
112.3 |
6.9 |
| Aut 87 |
556,000 |
300.5 |
26.4 |
145,000 |
170.6 |
5.8 |
169,000 |
122.5 |
9.0 |
| Spr 88 |
753,000 |
407.0 |
35.4 |
202,000 |
237.6 |
39.3 |
190,000 |
137.7 |
12.4 |
| Aut 88 |
1,218,000 |
658.4 |
61.8 |
336,000 |
395.3 |
66.3 |
200,000 |
144.9 |
5.3 |
| Spr 89 |
1,280,000 |
691.9 |
5.1 |
534,000 |
628.2 |
58.9 |
241,000 |
174.6 |
20.5 |
| Aut 89 |
1,072,000 |
579.5 |
-16.3 |
617,000 |
725.9 |
15.5 |
342,000 |
247.8 |
41.9 |
| Spr 90 |
825,000 |
445.9 |
-23.0 |
490,000 |
576.5 |
-20.6 |
469,000 |
339.9 |
37.1 |
| Aut 90 |
729,000 |
394.1 |
-11.6 |
493,000 |
580.0 |
0.6 |
475,000 |
344.2 |
1.3 |
| Spr 91 |
627,000 |
338.9 |
-14.0 |
415,000 |
488.2 |
-15.8 |
395,000 |
286.2 |
-16.8 |
| Aut 91 |
581,000 |
314.1 |
-7.3 |
395,000 |
464.7 |
-4.8 |
391,000 |
283.3 |
-1.0 |
| Spr 92 |
574,000 |
310.3 |
-1.2 |
371,000 |
436.5 |
-6.1 |
380,000 |
275.4 |
-2.8 |
| Aut 92 |
540,000 |
291.9 |
-5.9 |
333,000 |
391.8 |
-10.2 |
373,000 |
270.3 |
-1.8 |
| Spr 93 |
505,000 |
273.0 |
-6.5 |
309,000 |
363.5 |
-7.2 |
370,000 |
268.1 |
-0.8 |
| Aut 93 |
517,000 |
279.5 |
2.4 |
326,000 |
383.5 |
5.5 |
370,000 |
268.1 |
0.0 |
| Spr 94 |
561,000 |
303.2 |
8.5 |
341,000 |
401.2 |
4.6 |
370,000 |
268.1 |
0.0 |
| Aut 94 |
587,000 |
317.3 |
4.6 |
367,000 |
431.8 |
7.6 |
415,000 |
300.7 |
12.2 |
| Spr 95 |
610,000 |
329.7 |
3.9 |
381,000 |
448.2 |
3.8 |
415,000 |
300.7 |
0.0 |
| Aut 95 |
601,000 |
324.9 |
-1.5 |
325,000 |
382.4 |
-14.7 |
435,000 |
315.2 |
4.8 |
| Spr 96 |
608,000 |
328.6 |
1.2 |
364,000 |
428.2 |
12.0 |
438,000 |
317.4 |
0.7 |
| Aut 96 |
638,000 |
344.9 |
4.9 |
374,000 |
440.0 |
2.7 |
458,000 |
331.9 |
4.6 |
| Spr 97 |
685,000 |
370.3 |
7.4 |
411,000 |
483.5 |
9.9 |
513,000 |
371.7 |
12.0 |
| Aut 97 |
728,000 |
393.5 |
6.3 |
461,000 |
542.4 |
12.2 |
514,000 |
372.5 |
0.2 |
| Spr 98 |
870,000 |
470.3 |
19.5 |
490,000 |
576.5 |
6.3 |
550,000 |
398.6 |
7.0 |
| Aut 98 |
900,000 |
486.5 |
3.4 |
520,000 |
611.8 |
6.1 |
560,000 |
405.8 |
1.8 |
| Spr 99 |
960,000 |
518.9 |
6.7 |
540,000 |
635.3 |
3.8 |
580,000 |
420.3 |
3.6 |
| Aut 99 |
1,060,000 |
573.0 |
10.4 |
560,000 |
658.8 |
3.7 |
630,000 |
456.5 |
8.6 |
| Spr 2000 |
1,220,000 |
659.5 |
15.1 |
740,000 |
870.6 |
32.1 |
680,000 |
492.8 |
7.9 |
| Aut 2000 |
1,330,000 |
718.9 |
9.0 |
740,000 |
870.6 |
0.0 |
730,000 |
529.0 |
7.4 |
| Spr 2001 |
1,430,000 |
773.0 |
7.5 |
770,000 |
905.9 |
4.1 |
780,000 |
565.2 |
6.8 |
| Aut 2001 |
1,470,000 |
794.6 |
2.8 |
810,000 |
952.9 |
5.2 |
790,000 |
572.5 |
1.3 |
| Spr 2002 |
1,570,000 |
848.6 |
6.8 |
880,000 |
1035.3 |
8.6 |
810,000 |
587.0 |
2.5 |
| Aut 2002 |
1,720,000 |
929.7 |
9.6 |
980,000 |
1152.9 |
11.4 |
920,000 |
666.7 |
13.6 |
| Spr 2003 |
1,840,000 |
994.6 |
7.0 |
1,120,000 |
1,318 |
14.3 |
1,290,000 |
935 |
40.2 |
Aut 2003
|
2,030,000 |
1097.3 |
10.3 |
1,280,000 |
1505.9 |
14.3 |
1,340,000 |
971 |
3.9 |
The residential land forecast
Average values for building land across UK are forecast to stabilise
during the period March 2004-05, before a further period of significant
growth to end 2006. However, this picture is highly varied in
different regions, with bulk building land values in some regions
rising considerably more than
others. Average year-on-year rates of increase across the country over
the next 3 years are forecast as around 5%, although most growth is forecast
for the second half of the period.
Uncertainties in the market at a national level include the
level of supply of new development sites and the need for more
affordable housing units both of which are drivers of land value.
A feature of the residential land market is the ‘lumpiness’ of
changes in value making forecasting somewhat more hazardous than
for markets that respond in a more controlled way to changes
in the market place. The forecasts need to be taken together
with all other market information that is taken into account
in any decision making process.
Background Information
The forecasts have been provided by Technical Forecasts Limited,
an established company that is at the forefront in the development
of forecasting techniques for the property sector. The techniques
adopted for the original series of forecasts published in the
Property Market Report have been undergoing continual development.
These new systems are based on Bayesian principles and techniques
for finding the best average forecasts, given current market
forces.
Data Source
The forecasts are based on residential land values which have
been collected by the Valuation Office since 1983. The data is
based on opinion of value of land in typical locations throughout
England assuming the site has a planning permission typical for
the location, is ripe for development and has services to the
edge of the site.
Methodology
The forecast uses Technical Forecasts' latest methods for forecasting
property time series. Radial basis functions have been adopted
(a type of neural network) together with information from economic,
financial and other property series. The programs select the
best economic, financial and property series that give the maximum
amount of information to the Residential Land series. Bayesian
statistical methods are then used to give the most probable future
course of the Land series, given the past data.
The forecasts are made on the basis of relationships that exist
in the past history of the data series along with associated
economic and financial data. The methods used Construction Orders,
Bank of England base rates, Government data series and also Halifax
and Nationwide data series as well as other public and private
sources of technical data; over 100 other sources of data were
scanned and the relevant patterns extracted in order to inform
the forecasting process.
Advanced methods of error reduction in the past time series
have also been developed . The training of the models is controlled
in such a way as to make sure that only the relevant data patterns
are used in the creation of the models, eliminating, or at least
minimising, any errors that may exist in the
data. In this manner only the most relevant past patterns i.e. those
that determine the future, are taken into account.
Application
It is important to remember that future values do not necessarily
depend on past performance and mathematical techniques cannot
take into account sudden social and political changes or other
shocks to the market. All forecasts should be treated with caution
and should be used in conjunction with professional opinion but
they do provide an analysis of relationships within existing
data series and present a degree of objectivity over their subjective
equivalents.
Technical information about this forecast and on additional
property forecasts is available from:
Technical Forecasts Limited
Castle Court
12a High St
Arundel
West Sussex
BN18 9AB
Tel: 0854 2300 456
Email: mandy.bradley@tfl.biz
Web Site: www.tfl.biz
|
 |
Pre 1919 Terraced House (modernised)
Terraced house with two-storey wing at rear; built about 1875; small
forecourt and rear garden; rear access.
Modernisation includes rewiring, new roof and modern fittings in
the bathroom/wc and kitchen.
Ground Floor – 2 living rooms, kitchen
1st Floor – 3 bedrooms, bathroom/wc.
Floor area 100 sq.m.
|
 |
Inter war semi-detached house (modernised)
Semi-detached house, single fronted with 2 bay windows; built mid
1930s; front and rear gardens; single car garage.
Modernisation includes rewiring, full central heating and modern
fittings in the kitchen and bathroom/wc.
Ground Floor – 2 living rooms, kitchen
1st Floor – 3 bedrooms, bathroom/wc.
Floor area 95 sq.m.
|
 |
Post 1960 semi-detached house
Semi-detached house, single fronted; built early 1960s; full central
heating; front and rear gardens; single car garage.
Ground Floor – living room/dining room, kitchen, wc
1st Floor – 3 bedrooms, bathroom/wc.
Floor area 95 sq.m.
|
 |
Post 1960 detached house
Detached house on a good estate, built in 1960s; full central heating;
good sized front and rear gardens; double garage.
Ground Floor – 2/3 living rooms, kitchen, wc
1st Floor – 4 bedrooms, bathroom/wc.
Floor area 160 sq.m.
|
 |
Post 1960 flat in 3 (or more) storey block
First floor self contained flat 3 or more storey block; built early
1960s; lift; full central heating; car parking space in communal
area.
1st Floor – Living room, 2 bedrooms, kitchen, bathroom/wc.
Floor area 50 sq.m.
|
Floor Areas
For all those types of houses described above, the floor area shown
is the reduced covered area, which is the area of the ground and
first floors based on external measurements. For the flat described
above, the floor area shown is the effective floor area, which
is the floor area of the living rooms, bedrooms, kitchen and bathroom/wc
and excludes the hallway area.
|
These valuations are for the specific property types assuming
an average location within the named town or city. The figures
are not comparable with the series in the earlier reports which
provided a range of values for the property types covering several
locations within a town or city. There is no entry when the house
type is not represented in the location.
| EASTERN |
House Type
Capital Value as at 1 October 2003 |
Pre 1919
Terraced House (modernised) |
Inter
war
Semi-det House (modernised) |
Post 1960
Semi-det House |
Post 1960
Detached House |
Post 1960
Flat in 3 (or more)
Storey Block |
| Location |
£ |
£ |
£ |
£ |
£ |
| Cambridge (city) |
250,000 |
200,000 |
180,000 |
350,000 |
195,000 |
| Peterborough |
87,000 |
120,000 |
112,000 |
215,000 |
78,000 |
| Ipswich |
96,000 |
133,000 |
138,000 |
247,000 |
90,000 |
| Norwich |
137,500 |
159,500 |
154,000 |
264,000 |
99,000 |
| Bedford |
135,000 |
160,000 |
150,000 |
240,000 |
100,000 |
| Luton |
120,000 |
170,000 |
165,000 |
255,000 |
95,000 |
| Stevenage |
160,000 |
195,000 |
180,000 |
325,000 |
100,000 |
| St Albans |
275,000 |
310,000 |
255,000 |
510,000 |
165,000 |
| Chelmsford |
170,000 |
240,000 |
200,000 |
360,000 |
100,000 |
| Colchester |
145,000 |
155,000 |
140,000 |
300,000 |
100,000 |
| Great Yarmouth |
71,500 |
132,000 |
110,000 |
192,500 |
66,000 |
| Kings Lynn |
77,000 |
104,500 |
99,000 |
220,000 |
66,000 |
| |
| EAST MIDLANDS |
House Type
Capital Value as at 1 October 2003 |
Pre 1919
Terraced House (modernised) |
Inter war
Semi-det House (modernised) |
Post 1960
Semi-det House |
Post 1960
Detached House |
Post 1960 Flat in
3 (or more)
Storey Block |
| Location |
£ |
£ |
£ |
£ |
£ |
| Lincoln |
69,000 |
102,000 |
102,000 |
205,000 |
75,000 |
| Mansfield |
60,000 |
102,500 |
95,000 |
190,000 |
52,500 |
| Nottingham |
75,500 |
125,000 |
122,500 |
250,000 |
65,700 |
| Derby |
65,000 |
130,000 |
125,000 |
235,000 |
60,000 |
| Leicester |
80,000 |
105,000 |
92,500 |
205,000 |
58,000 |
| Northampton |
115,000 |
137,500 |
137,500 |
220,000 |
102,000 |
| Loughborough |
90,000 |
113,000 |
110,000 |
235,000 |
60,000 |
| Chesterfield |
62,500 |
100,000 |
105,000 |
220,000 |
55,000 |
| Buxton |
112,500 |
150,000 |
147,500 |
280,000 |
100,000 |
| Market Harborough |
102,000 |
135,000 |
120,000 |
250,000 |
70,000 |
| Grantham |
73,000 |
112,500 |
115,000 |
200,000 |
75,000 |
| Worksop |
60,000 |
102,500 |
100,000 |
190,000 |
48,000 |
| |
| NORTH EAST |
House Type
Capital Value as at 1 October 2003 |
Pre 1919
Terraced House (modernised) |
Inter war
Semi-det House (modernised) |
Post 1960
Semi-det House |
Post 1960
Detached House |
Post 1960 Flat in
3 (or more)
Storey Block |
| Location |
£ |
£ |
£ |
£ |
£ |
| Newcastle (Heaton) |
125,000 |
170,000 |
140,000 |
220,000 |
105,000 |
| Morpeth |
110,000 |
140,000 |
150,000 |
210,000 |
70,000 |
| Sunderland |
95,000 |
145,000 |
140,000 |
210,000 |
80,000 |
| Middlesbrough |
40,000 |
100,000 |
£95,000 |
175,000 |
65,000 |
| Durham |
160,000 |
155,000 |
115,000 |
310,000 |
62,000 |
| Darlington |
60,000 |
145,000 |
120,000 |
208,000 |
70,000 |
| Berwick on Tweed |
75,000 |
100,000 |
100,000 |
160,000 |
50,000 |
| |
| NORTH WEST |
House Type
Capital Value as at 1 October 2003 |
Pre 1919
Terraced House (modernised) |
Inter war
Semi-det House (modernised) |
Post 1960
Semi-det House |
Post 1960
Detached House |
Post 1960 Flat in
3 (or more)
Storey Block |
| Location |
£ |
£ |
£ |
£ |
£ |
| Bolton |
64,000 |
100,000 |
100,000 |
195,000 |
48,000 |
| Manchester (Didsbury) |
173,000 |
153,000 |
132,000 |
288,000 |
102,000 |
| Rochdale (Spotland)) |
60,000 |
98,000 |
98,000 |
220,000 |
55,000 |
| Salford |
42,000 |
98,000 |
115,000 |
184,000 |
75,000 |
| Trafford |
96,000 |
105,000 |
123,500 |
212,000 |
84,000 |
| Stockport |
95,000 |
140,000 |
140,000 |
220,000 |
95,000 |
| Blackburn |
55,000 |
95,000 |
84,000 |
155,000 |
49,000 |
| Clitheroe |
73,000 |
113,000 |
112,000 |
235,000 |
60,000 |
| Lancaster |
84,000 |
107,500 |
103,250 |
209,500 |
|
| Preston |
62,500 |
115,000 |
98,500 |
180,000 |
63,500 |
| Chester |
95,000 |
140,000 |
120,000 |
220,000 |
80,000 |
| Crewe |
85,000 |
145,000 |
110,000 |
205,000 |
70 000 |
| Macclesfield |
130,000 |
170,000 |
150,000 |
295,000 |
98 000 |
| Warrington |
70,000 |
100,000 |
105,000 |
254,000 |
55,000 |
| Wigan |
62,000 |
94,000 |
100,000 |
190,000 |
45,000 |
| Kendal |
140,000 |
170,000 |
160,000 |
265,000 |
|
| Carlisle |
84,000 |
112,000 |
110,000 |
234,000 |
66,000 |
| Barrow |
53,000 |
105,000 |
100,000 |
187,500 |
|
| Liverpool |
90,000 |
145,000 |
125,000 |
225,000 |
85,000 |
| Southport |
69,500 |
112,000 |
105,000 |
215,000 |
88,000 |
| |
| SOUTH EAST |
House Type
Capital Value as at 1 October 2003 |
Pre 1919
Terraced House (modernised) |
Inter war
Semi-det House (modernised) |
Post 1960
Semi-det House |
Post 1960
Detached House |
Post 1960 Flat in
3 (or more)
Storey Block |
| Location |
£ |
£ |
£ |
£ |
£ |
| Brighton & Hove |
192,000 |
200,000 |
195,000 |
370,000 |
130,000 |
| Eastbourne |
140,000 |
175,000 |
160,000 |
295,000 |
110,000 |
| Folkestone |
125,000 |
175,000 |
137,500 |
280,000 |
92,500 |
| Gillingham |
105,000 |
180,000 |
175,000 |
300,000 |
95,000 |
| Tunbridge Wells |
195,000 |
240,000 |
230,000 |
410,000 |
150,000 |
| Guildford |
225,000 |
225,000 |
225,000 |
375,000 |
185,000 |
| Redhill/Reigate |
220,000 |
265,000 |
230,000 |
450,000 |
175,000 |
| Worthing |
150,000 |
185,000 |
180,000 |
250,000 |
120,000 |
| Aylesbury |
140,000 |
215,000 |
195,000 |
325,000 |
100,000 |
| Oxford |
210,000 |
205,000 |
200,000 |
400,000 |
190,000 |
| Reading |
132,000 |
180,000 |
170,000 |
290,000 |
130,000 |
| Basingstoke |
160,000 |
180,000 |
175,000 |
320,000 |
120,000 |
| Portsmouth |
110,000 |
172,000 |
161,000 |
283,000 |
104,000 |
| Southampton |
140,000 |
165,000 |
160,000 |
280,000 |
125,000 |
| Newport (IOW) |
90,000 |
128,000 |
130,000 |
200,000 |
85,000 |
| |
| SOUTH WEST |
House Type
Capital Value as at 1 October 2003 |
Pre 1919
Terraced House (modernised) |
Inter war
Semi-det House (modernised) |
Post 1960
Semi-det House |
Post 1960
Detached House |
Post 1960 Flat in
3 (or more)
Storey Block |
| Location |
£ |
£ |
£ |
£ |
£ |
| Bournemouth/Poole |
135,000 |
150,000 |
155,000 |
280,000 |
140,000 |
| Weymouth |
125,000 |
140,000 |
145,000 |
240,000 |
110,000 |
| Exeter |
123,000 |
182,000 |
160,000 |
270,000 |
90,000 |
| Barnstaple |
104,000 |
138,000 |
135,000 |
231,000 |
85,000 |
| Plymouth |
97,500 |
143,000 |
137,500 |
250,000 |
87,500 |
| Penzance |
115,000 |
126,000 |
132,000 |
220,000 |
100,000 |
| St.Austell |
110,000 |
140,000 |
135,000 |
220,000 |
85,000 |
| Taunton |
126,000 |
154,500 |
134,250 |
252,000 |
92,250 |
| Bath |
110,000 |
155,000 |
150,000 |
300,000 |
110,000 |
| Bristol (Centre/St Pauls) |
105,000 |
120,000 |
120,000 |
185,000 |
110,000 |
| Gloucester |
115,000 |
155,000 |
150,000 |
290,000 |
85,000 |
| Swindon |
115,000 |
165,000 |
140,000 |
260,000 |
90,000 |
| |
| WALES |
House Type
Capital Value as at 1 October 2003 |
Pre 1919
Terraced House (modernised) |
Inter war
Semi-det House (modernised) |
Post 1960
Semi-det House |
Post 1960
Detached House |
Post 1960 Flat in
3 (or more)
Storey Block |
| Location |
£ |
£ |
£ |
£ |
£ |
| Cardiff |
150,000 |
185,000 |
160,000 |
295,000 |
95,000 |
| Carmarthen |
75,000 |
100,000 |
90,000 |
180,000 |
62,000 |
| Merthyr Tydfil |
55,000 |
80,000 |
85,000 |
180,000 |
37,500 |
| Bridgend |
75,000 |
115,000 |
85,000 |
210,000 |
60,000 |
| Swansea |
80,000 |
120,000 |
115,000 |
220,000 |
120,000 |
| Colwyn |
72,500 |
97,500 |
97,500 |
200,000 |
75,000 |
| Newport |
75,000 |
100,000 |
95,000 |
200,000 |
52,500 |
| Wrexham |
77,500 |
115,000 |
97,000 |
210,000 |
59,950 |
| |
| WEST MIDLANDS |
House Type
Capital Value as at 1 October 2003 |
Pre 1919
Terraced House (modernised) |
Inter war
Semi-det House (modernised) |
Post 1960
Semi-det House |
Post 1960
Detached House |
Post 1960 Flat in
3 (or more)
Storey Block |
| Location |
£ |
£ |
£ |
£ |
£ |
| Birmingham (south) |
85,000 |
115,000 |
115,000 |
180,000 |
60,000 |
| Coventry |
71,000 |
114,000 |
135,000 |
294,000 |
92,500 |
| Sandwell |
70,000 |
85,000 |
82,000 |
145,000 |
57,000 |
| Wolverhampton |
60,000 |
90,000 |
93,000 |
220,000 |
55,000 |
| Lichfield |
150,000 |
160,000 |
140,000 |
270,000 |
100,000 |
| Shrewsbury |
110,000 |
150,000 |
110,000 |
200,000 |
55,000 |
| Stoke-on-Trent |
40,000 |
85,000 |
80,000 |
175,000 |
60,000 |
| Leamington Spa |
215,000 |
170,000 |
184,000 |
300,000 |
125,000 |
| Worcester |
129,000 |
150,000 |
140,000 |
260,000 |
93,000 |
| Kidderminster |
84,500 |
116,500 |
116,500 |
224,500 |
63,000 |
| |
| YORKSHIRE AND THE HUMBER |
House Type
Capital Value as at 1 October 2003 |
Pre 1919
Terraced House (modernised) |
Inter war
Semi-det House (modernised) |
Post 1960
Semi-det House |
Post 1960
Detached House |
Post 1960 Flat in
3 (or more)
Storey Block |
| Location |
£ |
£ |
£ |
£ |
£ |
| Harrogate |
140,000 |
220,000 |
175,000 |
355,000 |
125,000 |
| York |
135,000 |
150,000 |
132,500 |
220,000 |
90,000 |
| Bradford |
75,000 |
95,000 |
90,000 |
195,000 |
60,000 |
| Huddersfield |
70,000 |
97,000 |
100,000 |
180,000 |
79,000 |
| Leeds (Bramley) |
97,500 |
81,000 |
80,000 |
175,000 |
66,000 |
| Doncaster |
49,000 |
90,000 |
89,000 |
195,000 |
66,000 |
| Grimsby |
40,000 |
85,000 |
85,000 |
170,000 |
55,000 |
| Beverley |
80,000 |
100,000 |
105,000 |
225,000 |
60,000 |
| Hull |
45,000 |
75,000 |
78,000 |
170,000 |
55,000 |
| Bridlington |
70,000 |
80,000 |
90,000 |
180,000 |
47,500 |
| Sheffield |
96,000 |
126,000 |
100,000 |
186,000 |
70,000 |
| |
| INNER LONDON |
House Type
Capital Value as at 1 October 2003 |
Pre 1919
Terraced House (modernised) |
Inter war
Semi-det House (modernised) |
Post 1960
Semi-det House |
Post 1960
Detached House |
Post 1960 Flat in
3 (or more)
Storey Block |
| Location |
£ |
£ |
£ |
£ |
£ |
| Tower Hamlets |
330,000 |
|
|
|
175,000 |
| Newham |
180,000 |
185,000 |
|
|
120,000 |
| Camden |
410,000 |
|
|
|
240,000 |
| Hackney |
245,000 |
325,000 |
|
|
165,000 |
| Lewisham |
195,000 |
245,000 |
225,000 |
395,000 |
160,000 |
| Rotherhithe |
250,000 |
235,000 |
220,000 |
310,000 |
160,000 |
| Hammersmith |
420,000 |
355,000 |
365,000 |
|
260,000 |
| Islington |
340,000 |
355,000 |
|
|
200,000 |
| City of London (Barbican) |
|
|
|
|
320,000 |
| Westminster(South) |
970,000 |
870,000 |
|
|
415,000 |
| |
| OUTER LONDON |
House Type
Capital Value as at 1 October 2003 |
Pre 1919
Terraced House (modernised) |
Inter war
Semi-det House (modernised) |
Post 1960
Semi-det House |
Post 1960
Detached House |
Post 1960 Flat in
3 (or more)
Storey Block |
| Location |
£ |
£ |
£ |
£ |
£ |
| Romford |
155,000 |
220,000 |
200,000 |
350,000 |
150,000 |
| Redbridge |
200,000 |
270,000 |
220,000 |
370,000 |
155,000 |
| Enfield |
250,000 |
325,000 |
325,000 |
580,000 |
195,000 |
| Ealing |
165,000 |
250,000 |
230,000 |
410,000 |
135,000 |
| Harrow |
180,000 |
250,000 |
260,000 |
410,000 |
150,000 |
| Bromley |
200,000 |
270,000 |
225,000 |
425,000 |
165,000 |
| Merton (Wimbledon) |
320,000 |
250,000 |
225,000 |
630,000 |
240,000 |
| |
| SCOTLAND |
House Type
Capital Value as at 1 October 2003 |
Pre 1919
Terraced House (modernised) |
Inter war
Semi-det House (modernised) |
Post 1960
Semi-det House |
Post 1960
Detached House |
Post 1960 Flat in
3 (or more)
Storey Block |
| Location |
£ |
£ |
£ |
£ |
£ |
| Inverness |
100,000 |
105,000 |
90,000 |
162,000 |
70,000 |
| Aberdeen |
175,000 |
200,000 |
180,000 |
265,000 |
110,000 |
| Fort William |
67,000 |
95,000 |
85,000 |
105,000 |
45,000 |
| Oban |
95,000 |
95,000 |
92,500 |
160,000 |
75,000 |
| Dundee |
70,000 |
75,000 |
75,000 |
120,000 |
50,000 |
| Dunfermline |
95,000 |
110,000 |
100,000 |
220,000 |
70,000 |
| Edinburgh |
195,000 |
205,000 |
147,500 |
280,000 |
100,000 |
| Glasgow (Hyndland) |
160,000 |
210,000 |
180,000 |
425,000 |
160,000 |
| Glasgow(Bearsden) |
150,000 |
155,000 |
145,000 |
315,000 |
120,000 |
| Hamilton |
83,000 |
100,000 |
90,000 |
180,000 |
70,000 |
| Ayr |
85,000 |
120,000 |
85,000 |
195,000 |
85,000 |
| Dumfries |
64,000 |
85,000 |
72,000 |
135,000 |
36,000 |
| Stranraer |
57,000 |
79,000 |
65,000 |
120,000 |
35,000 |
| Stornoway |
52,000 |
62,500 |
57,500 |
88,500 |
36,000 |
| |
| NORTHERN IRELAND |
House Type
Capital Value as at 1 October 2003 |
Pre 1919
Terraced House (modernised) |
Inter war
Semi-det House (modernised) |
Post 1960
Semi-det House |
Post 1960
Detached House |
Post 1960 Flat in
3 (or more)
Storey Block |
| Location |
£ |
£ |
£ |
£ |
£ |
| Belfast |
92,000 |
110,000 |
105,000 |
217,500 |
80,000 |
| Lisburn |
75,000 |
85,000 |
90,000 |
155,000 |
78,000 |
| Craigavon |
52,000 |
72,500 |
75,000 |
130,000 |
45,000 |
| Londonderry |
62,500 |
80,000 |
77,500 |
175,200 |
|
| Omagh |
58,000 |
70,000 |
70,000 |
120,000 |
|
| Ballymena |
55,000 |
65,000 |
70,000 |
125,000 |
55,000 |
|
|
The table below shows the range
of typical values reported by District Valuers together with
the typical value for each region.These values should be regarded
as illustrative rather than definitive.
| Range
of Values Reported |
| Region
|
From £s
per ha |
To £s
per ha
|
Typical £s
per ha
|
| North East |
80,000 |
200,000 |
148,000 |
| North West and Merseyside |
110,000 |
800,000 |
346,000 |
| Yorkshire and the Humber |
140,000 |
640,000 |
442,000 |
| East Midlands |
250,000 |
700,000 |
455,000 |
| West Midlands |
250,000 |
950,000 |
506,000 |
| Eastern |
370,000 |
2,500,000 |
966,000 |
| South East |
225,000 |
3,000,000 |
1,335,000 |
| South West |
175,000 |
1,235,000 |
590,000 |
| Wales |
100,000 |
433,000 |
207,000 |
|
| England & Wales ( excluding
London) |
80,000 |
3,000,000 |
609,000 |
|
| London |
650,000 |
3,600,000 |
1,793,000 |
|
| Scotland |
100,000 |
490,000 |
221,000 |
| Range of Values Reported |
| Region |
From
£ s per ha |
To
£ s per ha |
Typical
£ s per ha |
| NORTH EAST |
| North Tyneside (Newcastle) |
175,000 |
200,000 |
185,000 |
| Northumberland (Cramlington) |
80,000 |
175,000 |
125,000 |
| Sunderland |
110,000 |
200,000 |
150,000 |
| Middlesbrough |
80,000 |
170,000 |
130,000 |
| Durham |
125,000 |
175,000 |
150,000 |
| |
| NORTH WEST |
| Bolton and Bury |
250,000 |
450,000 |
400,000 |
| Manchester |
350,000 |
500,000 |
400,000 |
| Rochdale/Oldham |
250,000 |
400,000 |
300,000 |
| Salford/Trafford |
400,000 |
800,000 |
625,000 |
| Stockport |
275,000 |
600,000 |
400,000 |
| Wigan |
250,000 |
400,000 |
300,000 |
| Blackburn/Burnley |
192,000 |
286,000 |
250,000 |
| Lancaster |
173,000 |
296,000 |
225,000 |
| Central Lancs (Preston) |
320,000 |
370,000 |
345,000 |
| Birkenhead ( new location) |
200,000 |
250,000 |
220,000 |
| Crewe & Nantwich |
315,000 |
390,000 |
350,000 |
| Macclesfield |
275,000 |
495,000 |
330,000 |
| Warrington |
265,000 |
570,000 |
430,000 |
| Carlisle/M6 Corridor |
190,000 |
210,000 |
205,000 |
| Kendal |
500,000 |
600,000 |
550,000 |
| |
| MERSEYSIDE |
| Liverpool |
110,000 |
260,000 |
210,000 |
| |
| YORKSHIRE AND THE HUMBER |
| Harrogate |
350,000 |
550,000 |
475,000 |
| York |
350,000 |
475,000 |
425,000 |
| Bradford |
400,000 |
625,000 |
500,000 |
| Huddersfield |
325,000 |
475,000 |
425,000 |
| South Leeds |
400,000 |
625,000 |
500,000 |
| Doncaster |
150,000 |
450,000 |
380,000 |
| Grimsby |
160,000 |
370,000 |
295,000 |
| Hull |
250,000 |
640,000 |
540,000 |
| Sheffield |
140,000 |
450,000 |
380,000 |
| Wakefield (new location) |
400,000 |
625,000 |
500,000 |
| |
| EAST MIDLAND |
| Lincoln |
250,000 |
300,000 |
300,000 |
| Mansfield |
250,000 |
350,000 |
300,000 |
| Nottingham |
450,000 |
600,000 |
500,000 |
| Derby |
350,000 |
500,000 |
400,000 |
| Leicester |
370,000 |
680,000 |
615,000 |
| Northampton |
450,000 |
700,000 |
615,000 |
| |
| WEST MIDLAND |
| Birmingham |
350,000 |
950,000 |
700,000 |
| Coventry |
310,000 |
740,000 |
618,000 |
| Sandwell |
309,000 |
494,000 |
396,000 |
| Wolverhampton |
325,000 |
550,000 |
415,000 |
| Tamworth |
350,000 |
550,000 |
485,000 |
| Telford |
270,000 |
370,000 |
320,000 |
| Stoke/Stafford |
250,000 |
650,000 |
320,000 |
| Leamington Spa |
570,000 |
750,000 |
675,000 |
| Redditch |
500,000 |
820,000 |
700,000 |
| Dudley |
325,000 |
600,000 |
435,000 |
| |
| EASTERN |
| Cambridge |
400,000 |
950,000 |
680,000 |
| Peterborough |
430,000 |
650,000 |
555,000 |
| Ipswich |
420,000 |
675,000 |
475,000 |
| Norwich |
400,000 |
525,000 |
500,000 |
| Stevenage |
700,000 |
2,300,000 |
1,350,000 |
| Luton |
700,000 |
850,000 |
750,000 |
| Hemel Hempstead |
1,750,000 |
2,500,000 |
2,250,000 |
| Basildon (new location) |
1,200,000 |
1,976,000 |
1,482,000 |
| Colchester |
370,000 |
750,000 |
650,000 |
| |
| LONDON |
| Stratford E15 |
740,000 |
1,235,000 |
990,000 |
| Islington/Hackney |
1,500,000 |
1,850,000 |
1,700,000 |
| Greenwich |
1,000,000 |
2,000,000 |
1,500,000 |
| Southwark |
1,250,000 |
2,500,000 |
1,800,000 |
| North Hammersmith |
There is now only limited industrial development
in this area and no discernible land market |
| Barking and Dagenham |
850,000 |
1,500,000 |
1,250,000 |
| Walthamstow |
650,000 |
1,050,000 |
900,000 |
| North/East Enfield and Haringey |
950,000 |
1,125,000 |
1,100,000 |
| Park Royal |
3,100,000 |
3,600,000 |
3,300,000 |
| Hayes |
2,300,000 |
2,800,000 |
2,500,000 |
| Croydon |
1,500,000 |
2,500,000 |
2,000,000 |
| Merton/Mitcham |
850,000 |
2,750,000 |
1,500,000 |
| |
| SOUTH EAST |
| Crawley |
2,500,000 |
3,000,000 |
2,500,000 |
| Eastbourne |
450,000 |
520,000 |
500,000 |
| Canterbury |
525,000 |
900,000 |
750,000 |
| Medway Towns |
680,000 |
800,000 |
740,000 |
| Maidstone/Medway Gap |
900,000 |
1,050,000 |
1,000,000 |
| Guildford/Egham |
1,600,000 |
2,400,000 |
2,225,000 |
| |
|
|
|
South East (continued)
Region |
From
£ s per ha |
To
£ s per ha |
Typical
£ s per ha |
| Sunbury (new location) |
1,600,000 |
2,400,000 |
2,225,000 |
| Milton Keynes |
1,000,000 |
1,300,000 |
1,100,000 |
| Oxford |
850,000 |
1,150,000 |
950,000 |
| Reading |
1,850,000 |
2,100,000 |
2,000,000 |
| Basingstoke |
1,350,000 |
2,150,000 |
1,900,000 |
| Portsmouth |
850,000 |
1,450,000 |
1,100,000 |
| Southampton |
1,150,000 |
2,050,000 |
1,410,000 |
| Newport(IOW) |
225,000 |
350,000 |
275,000 |
| |
| SOUTH WEST |
| Poole/Bournemouth |
850,000 |
1,235,000 |
990,000 |
| Weymouth |
350,000 |
600,000 |
500,000 |
| Exeter |
500,000 |
700,000 |
625,000 |
| Barnstaple |
250,000 |
350,000 |
270,000 |
| Plymouth |
236,000 |
383,000 |
310,000 |
| Bodmin |
175,000 |
220,000 |
200,000 |
| Yeovil |
375,000 |
650,000 |
530,000 |
| Bristol |
650,000 |
900,000 |
800,000 |
| Gloucester |
615,000 |
805,000 |
725,000 |
| Swindon |
900,000 |
1,100,000 |
950,000 |
| |
| WALES |
| Cardiff |
295,000 |
433,000 |
370,000 |
| Carmarthen |
135,000 |
185,000 |
160,000 |
| Merthyr Tydfil |
100,000 |
185,000 |
130,000 |
| Taff Ely |
125,000 |
330,000 |
185,000 |
| Swansea |
165,000 |
220,000 |
170,000 |
| Colwyn Bay/Llandudno |
100,000 |
160,000 |
130,000 |
| Newport |
300,000 |
420,000 |
340,000 |
| Deeside |
120,000 |
200,000 |
170,000 |
| |
| SCOTLAND |
| Hillington |
150,000 |
250,000 |
200,000 |
| Irvine |
110,000 |
110,000 |
110,000 |
| Dumfries |
100,000 |
125,000 |
110,000 |
| Falkirk (new location) |
150,000 |
200,000 |
175,000 |
| Glasgow |
150,000 |
300,000 |
200,000 |
| Aberdeen |
370,000 |
445,000 |
435,000 |
| Inverness |
280,000 |
490,000 |
375,000 |
| Edinburgh |
150,000 |
375,000 |
275,000 |
| Motherwell/Hamilton |
150,000 |
220,000 |
200,000 |
| Dundee |
120,000 |
150,000 |
125,000 |
|
|
Introduction
This section of the Property Market Report explains
how the Valuation Office Agency collects data and how this data
is processed to provide the information contained within the
report.
Sources of data
The Valuation Office receives details of all completed property transactions
of property sold, or leased for seven years or more, or where an existing
lease on land and buildings is assigned. The provision under which
purchasers/transferees or their legal representatives are required
to supply this information is Section 28 of the Finance Act 1931. This
has been amended by further legislation but the 1931 Act remains the
empowering statute. Within each local office these transactions have
been recorded and analysed, originally in bound volumes, but more recently
on computer. The recording, and more importantly the analysis of data
provides the Valuation Office with a unique database covering more
than 50 years of property transactions. The core data for the Property
Market Report are these completed property transactions.
In the preparation of the Property Market Report, District Valuers
also have regard to all other market intelligence available to
them and which is normally taken into account when forming an
opinion of value.
Report Format
The Property Market Report was designed to allow readers to follow trends
in value of readily recognisable types of property in discrete locations
across the country. Typical property types or "beacons" were
selected for each market sector and these are fully described in the
front of each section of the report. The value of each beacon type
is revisited every six months, in April and October, and reviewed in
the light of property transactions recorded, market intelligence and
local information obtained and verified by District Valuers. The property
types are reviewed on a regular basis to ensure they are representative
of properties found across the whole of England, Scotland and Wales.
Where design and property specifications have changed, the beacon types
will be re-defined in order to be maintain their representation of
the market.
Each report although standing alone is also part of a time series
from 1983, when the reports were first published, with snap shot
views of the market at six monthly intervals from then onwards.
A common feature of all the tables provided is that they are
of unweighted data covering a consistent and representative range
of property types and not simply reporting on the property actually
sold in a given period.
Set out in the following pages are details of the methodology
adopted in providing information in each of the sectors.
Agricultural Sector
DVs are requested to express their opinion of the capital and tenanted
value of various types of
agricultural land within their individual localities. The opinions expressed
are for fully equipped farms typical to the locality, with the values
for the dairy farm excluding the value of milk quota. From Spring 2002
a table for unequipped land assuming the typical farm is lotted for disposal
is also included.
From Spring 2002 the description of the ‘typical farm’ for
each farming category has been re visited to ensure they continue
to represent typical agricultural holdings which over the last
twenty years have taken on board economies of scale through expansion.
The residential element of any farm enterprise is also an important
factor in the overall price achieved for the land. To ensure
consistency across all the reporting locations for the Spring
2002 report onwards the values reported for equipped farms are
a reflection of the following type of agricultural holding:
Arable Farm - 300-500 acres with a house appropriate for the size of
holding and modern buildings adequate for the business.
Dairy Farm - 150-250 acres with a house appropriate for the
size of holding and modern buildings and accommodation for a
commercial herd.
Mixed Farm - 200-500 mixed arable livestock with a house appropriate
for the size of holding plus a mixture of modern and traditional
buildings adequate for the business
Hill Farm - 1000 acres minimum with the majority over 1500 ft
above sea level and comprising open mountain and moor land with
a house appropriate to the holding and buildings adequate for
the business
The average values for England and Wales are based on the opinions
of value at 44 locations for arable land, 45 locations for dairy
land, 55 locations for mixed land and 8 locations for hill land.
The averages for Scotland are based on 7 locations. The published
data is simple averages of all the reported locations within
each region/country.
Where there is no entry the land type is not typical within
the area.
Residential Building Land
The report covers three types of land, small sites for less than five
houses, bulk land in excess of two hectares and land that has planning
permission for flats. The land is assumed to be in a typical location
for the area, have planning permission, services to the edge of the
site and be ripe for development.
To that extent if the market for majority of residential land
in the locality is made up of ‘brownfield sites’ that
will be reflected in the valuations. Likewise if planning permissions
in the location generally include an element of affordable housing
that will also be reflected in the land values to the same extent
as the market would do so.
The values should be regarded as illustrative rather than definitive
and represent typical levels of value for sites with no abnormal
site constraints and a residential planning permission of a type
generally found in the area.
Regional Table
The averages for England and Wales are based on a total
of 104 localities and the average for Scotland is based on 10
localities. The values reported for the regions are simple averages
rounded to the nearest ten thousand pounds. The figures have
not been weighted for population size in each local authority
area or for the size of the sites.
Residential Building Land Index and Values from 1983
This table and index is constructed from the regional averages for bulk
land published in the twice yearly reports since Autumn 1983. The localities
within each region have remained the same over the period and typical
values within these areas form the basis of the index. The localities
adopted are as listed in the tables of individual values. The figures
are unweighted and the index provides an indication of the changes
in typical values at established centres on a regional basis. The series
is based on the Government Office regions and historic data has been
converted to comply with these new groupings. The Inner and Outer London
index from October 1988 excludes the central area i.e. Westminster,
Kensington and Chelsea and Camden because of the very specific nature
of the market resulting in high land values in these local locations,
which has a distorting effect on the regional average.
Residential Building Land Graph
This graph shows the six monthly change in the average value of residential
building land in England and Wales based on 91 locations and London
based on 13 locations.
Housing Sector
The report covers England, Scotland, Wales and Northern Ireland and provides
opinions of vacant possession values for recognisable house types which
are described in detail at the front of the housing section in the
report.
The opinions expressed are values of the property types within
an average location within the named town or city. Where there
is no entry the property is not a recognisable house type within
the location.
The report covers 124 locations in England and Wales, 14 in
Scotland and 6 in Northern Ireland.
Industrial Land
DVs report the typical value and range of value of land with planning
permission for industrial use within 103 localities covering England
and Wales and 10 in Scotland, based on transactional evidence. It is
assumed that all services are available at the edge of the site and
the site is ripe for development. The localities are as shown in the
individual table of values.
Trends in Industrial Land Values from 1983
This series of graphs presents by Government Office region the maximum,
minimum and mid point value of industrial land from Autumn 1983. The
mid point is replaced by the typical value from Spring 1998. The figures
have not been weighted for population size or size of site and provide
an indication of the movement in the range of values across the regions.
The series is based on Government Office regions and historic data
has been converted to this format.
Typical values published for each Government Office region are
the simple averages of all the typical values reported from the
individual localities within that region. These are unweighted.
View the England
and Wales Counties and Government Regions (39k - PDF)
|
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