UK House Price Index May 2017
The May data shows an annual price increase of 4.7% which takes the average property value in the UK to £220,713. Monthly house prices have risen by 0.5% since April 2017. The monthly index figure for the UK was 115.8.
In England, the May data shows an annual price increase of 5% which takes the average property value to £237,662. Monthly house prices have risen by 0.5% since April 2017.
Wales shows an annual price increase of 3.8% which takes the average property value to £149,817. Monthly house prices have risen by 0.6% since April 2017.
London shows an annual price increase of 3% which takes the average property value to £481,345. Monthly house prices have fallen by 0.3% since April 2017.
The regional data indicates that:
- the East of England experienced the greatest increase in average property price over the last 12 months, with a movement of 7.5%;
- the North East experienced both the greatest monthly price growth with an increase of 1.8% and the lowest annual price growth with a movement of 1.6%; and
- London and the South East saw the most significant monthly price falls of 0.3% each.
The UK Property Transaction statistics showed that in May 2017 the number of seasonally adjusted property transactions completed in the UK with a value of £40,000 or above increased by 13.4% compared to May 2016. The unusually low level of transactions in May 2016 was associated with the introduction of the higher tax rates on additional properties introduced from 1 April 2016. Comparing May 2017 to April 2017, property transactions fell by 3.3%. See the economic statement.
Sales during March 2017, the most up-to-date HM Land Registry figures available, show that:
- the number of completed house sales in England fell by 44.3% to 62,342 compared with 111,901 in March 2016;
- the number of completed house sales in Wales fell by 35.5% to 3,451 compared with 5,354 in March 2016;
- the number of completed house sales in London fell by 57.5% to 6,941 compared with 16,322 in March 2016;
- there were 743 repossession sales in England in March 2017;
- there were 76 repossession sales in Wales in March 2017; and
- the lowest number of repossession sales in England and Wales in March 2017 was in the East of England.
| England by region | Monthly change % since April 2017 | Annual change % since May 2016 | Average price May 2017 |
| East Midlands | 1.3 | 7.2 | £180,903 |
| East of England | 0.7 | 7.5 | £284,097 |
| London | -0.3 | 3.0 | £481,345 |
| North East | 1.8 | 1.6 | £126,738 |
| North West | 0.7 | 3.8 | £153,297 |
| South East | -0.3 | 4.8 | £315,807 |
| South West | 0.4 | 5.5 | £243,969 |
| West Midlands | 0.8 | 5.3 | £183,942 |
| Yorkshire and the Humber | 1.1 | 4.4 | £155,268 |
| Average price by property type (England) | May 2017 | May 2016 | Difference % |
| Detached | £353,757 | £335,334 | 5.5 |
| Semi-detached | £220,793 | £209,006 | 5.6 |
| Terraced | £191,208 | £184,130 | 3.8 |
| Flat/maisonette | £226,959 | £215,654 | 5.2 |
| All | £237,662 | £226,370 | 5.0 |
| Wales | Monthly change % since April 2017 | Annual change % since May 2016 | Average price May 2017 |
| Wales | 0.6 | 3.8 | £149,817 |
| Average price by property type (Wales) | May 2017 | May 2016 | Difference % |
| Detached | £221,822 | £215,069 | 3.1 |
| Semi-detached | £144,909 | £138,484 | 4.6 |
| Terraced | £116,128 | £112,917 | 2.8 |
| Flat/maisonette | £112,812 | £104,659 | 7.8 |
| All | £149,817 | £144,296 | 3.8 |
| Average price by property type (London) | May 2017 | May 2016 | Difference % |
| Detached | £900,601 | £864,839 | 4.1 |
| Semi-detached | £579,413 | £557,920 | 3.9 |
| Terraced | £488,617 | £481,745 | 1.4 |
| Flat/maisonette | £428,569 | £414,351 | 3.4 |
| All | £481,345 | £467,485 | 3.0 |
| Month | Sales 2017 England | Sales 2016 England | Difference % |
| February | 55,289 | 64,679 | -14.5 |
| March | 62,342 | 111,901 | -44.3 |
| Month | Sales 2017 Wales | Sales 2016 Wales | Difference % |
| February | 2,992 | 3,188 | -6.1 |
| March | 3,451 | 5,354 | -35.5 |
| Month | Sales 2017 London | Sales 2016 London | Difference % |
| February | 6,362 | 8,171 | -22.1 |
| March | 6,941 | 16,322 | -57.5 |
| England | Monthly price change % since April 2017 | Annual price change % since May 2016 | Average price May 2017 |
| Cash | 0.7 | 5.2 | £223,769 |
| Mortgage | 0.5 | 4.9 | £244,662 |
| First time buyer | 1.2 | 5.0 | £200,770 |
| Former owner occupier | -0.1 | 4.9 | £268,135 |
| New build | -0.3 | 8.9 | £308,487 |
| Existing resold property | 0.6 | 4.7 | £233,153 |
| Wales | Monthly price change % since April 2017 | Annual price change % since May 2016 | Average price May 2017 |
| Cash | 0.2 | 3.4 | £145,421 |
| Mortgage | 0.7 | 4.1 | £152,422 |
| First time buyer | 1.2 | 3.9 | £130,125 |
| Former owner occupier | -0.1 | 3.7 | £172,585 |
| New build | 1.1 | 10.6 | £209,992 |
| Existing resold property | 0.5 | 3.5 | £146,556 |
| London | Monthly price change % since April 2017 | Annual price change % since May 2016 | Average price May 2017 |
| Cash | 0.0 | 4.1 | £512,564 |
| Mortgage | -0.3 | 2.6 | £471,925 |
| First time buyer | 0.0 | 2.9 | £422,225 |
| Former owner occupier | -0.6 | 3.0 | £541,333 |
| New build | -3.1 | 4.6 | £511,475 |
| Existing resold property | 0.0 | 2.8 | £478,916 |
| Repossession sales | March 2017 |
| East Midlands | 67 |
| East of England | 12 |
| London | 46 |
| North East | 95 |
| North West | 174 |
| South East | 72 |
| South West | 52 |
| Yorkshire and the Humber | 136 |
| West Midlands | 89 |
| England | 743 |
| Wales | 76 |
Kindly shared by Land Registry
