The October data shows an annual price increase of 6.9% which takes the average property value in the UK to £216,674. Monthly house prices have risen by 0.1% since September 2016. The monthly index figure for the UK was 113.6.

In England, the October data shows an annual price increase of 7.4% which takes the average property value to £232,655. Monthly house prices fell by 0.1% since September 2016.

Wales shows an annual price increase of 4.4% which takes the average property value to £147,065. Monthly house prices have risen by 1% since September 2016.

London shows an annual price increase of 7.7% which takes the average property value to £474,475. Monthly house prices fell by 1.2% since September 2016.

The 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 12.3%;
– the East of England also experienced the greatest monthly growth with an increase of 1.3%;
– the North East saw the lowest annual price growth with an increase of 2.7%;
– the North East also saw the most significant monthly price fall with a movement of -1.3%.

Home sales in the UK increased by 1.0% between September and October. Compared with October 2015 the level of home sales in October 2016 is 8.0% lower. See the economic statement.

Sales during August 2016, the most up-to-date Land Registry figures available, show that:

– the number of completed house sales in England fell by 20.3% to 67,396 compared with 84,565 in August 2015;
– the number of completed house sales in Wales fell by 11.6% to 3,558 compared with 4,025 in August 2015;
– the number of completed house sales in London fell by 39.3% to 6,607 compared with 10,881 in August 2015;
– there were 514 repossession sales in England in August 2016;
– there were 45 repossession sales in Wales in August 2016;
– the lowest number of repossession sales in England and Wales in August 2016 was in the East of England.

Access the full October UK HPI. For more information, click here.

Posted by root

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