The latest available data for August shows an annual price increase of 8.4%, taking the average property value in the UK to £218,964.
Monthly house prices increased by 1.3% since July 2016. In England, the August data shows an annual price increase of 9.2%, taking the average property value to £235,573. English monthly house prices have risen by 1.4% since July 2016.
In Wales the annual price increase was 2.7%, taking the average property value to £144,514. Welsh monthly house prices fell by 0.6% since July 2016.
London shows the biggest increase as expected with an annual price increase of 12.1%, taking the average property value to £488,908. London monthly house prices rose by 1.3% since July 2016.
According to the Land Registry regional data indicates that:
- the East of England experienced the greatest increase in its average property value over the last 12 months with a movement of 13.3%
- the South West experienced the greatest monthly growth with an increase of 2.3%
- the North East saw the lowest annual price growth with an increase of 3%
- the North East saw the only monthly price fall with a movement of -0.2%
UK home sales grew by 8.4% in the year to August, which is up slightly from 8.0% in July. Although demand and supply were broadly unchanged compared with the previous month, the indicators remained somewhat weaker than in 2015 and early 2016.
See the full statement – UK House Price Index (HPI) for August 2016 – here
UK House Prices show steady increase https://t.co/yMW3HNzM77
— LandlordZONE (@LandlordZONE) October 28, 2016