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.