The UK House Price Index shows house price changes for England, Scotland, Wales and Northern Ireland, and the June data shows an annual price increase of 8.7%. This takes the average property value in the UK to £213,927.
In England the rise was higher with the June 2016 data showing an annual price increase of 9.3%. This takes the average property value in England to £229,383, with a monthly house prices rise of 0.8% since May 2016.
In Wales the annual price increase was 4.9% which takes the average Welsh property value to £145,238. The monthly rise was 1.2% since May 2016.
London once again shows the biggest annual price increase at 12.6%, which takes the average property value in London to £472,204. The monthly London house prices rose by 0.2% since May 2016.
UK House Price Index regional data shows:
- East of England experienced the greatest increase in its average property value over the last 12 months with a movement of 14.3%
- the South East experienced the greatest monthly growth with an increase of 1.5%
- the North East saw the lowest annual price growth with an increase of 1.5%
- the West Midlands and the North East each saw the most significant monthly price fall with a movement of -0.2%
Following a strong increase in sales in March, UK home sales fell by 55.4% in April 2016, recovering slightly in May and June 2016. Sales during April 2016, the most up-to-date Land Registry figures available, show that:
- the number of completed house sales in England fell by 33.4% to 42,938 compared with 64,467 in April 2015
- the number of completed house sales in Wales fell by 26% to 2,394 compared with 3,237 in April 2015
- the number of completed house sales in London fell by 49.7% to 4,368 compared with 8,678 in April 2015
- there were 169 repossession sales in England in April 2016
- there were 20 repossession sales in Wales in April 2016
- the lowest number of repossession sales in England and Wales in April 2016 was in London
See the full report here
House prices rise 8.7% year to June 2016 https://t.co/XSe5jPnckc
— LandlordZONE (@LandlordZONE) August 23, 2016