Please Note: This Article is 5 years old. This increases the likelihood that some or all of it's content is now outdated.

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.

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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

Please Note: This Article is 5 years old. This increases the likelihood that some or all of it's content is now outdated.

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