The latest available data for September 2016 shows an annual price increase of 7.7%, taking the average property value in the UK to £217,888.
In England alone the September data gives an annual price increase of 8.3%, taking the average property value in England to £234,250.
In Wales annual prices increased of 4.4%, taking the average Welsh property value to £146,388.
London alone shows an annual price increase of 10.9%, taking the average property value to £487,649. Monthly house prices have risen by 1.4% since August 2016.
Data from around the UK shows:
- the East of England experienced the greatest increase in its average property value over the last 12 months with a movement of 12.1%
- London experienced the greatest monthly growth with an increase of 1.4%
- the North East saw the lowest annual price growth with an increase of 1.5%
- the North East also saw the most significant monthly price fall with a movement of -1.9%.
Home sales in the UK fell by 4.3% between August and September, with sale levels remaining lower than in 2014 and 2015, and before the stamp duty changes in April 2016.
Home sales during July 2016, the most up-to-date Land Registry figures available, show that:
- the number of completed house sales in England fell by 28.1% to 66,870 compared with 93,040 in July 2015
- the number of completed house sales in Wales fell by 23.4% to 3,525 compared with 4,603 in July 2015
- the number of completed house sales in London fell by 43.3% to 7,074 compared with 12,481 in July 2015
- there were 490 repossession sales in England in July 2016
- there were 54 repossession sales in Wales in July 2016
- the lowest number of repossession sales in England and Wales in July 2016 was in the East of England.
See the full UK House Price Index (HPI) for September 2016 here
Latest UK House Gov Price Index https://t.co/BovsPjIBjw
— LandlordZONE (@LandlordZONE) November 21, 2016