UK House Price Index August 2017

The August data shows an annual price increase of 5% which takes the average property value in the UK to £225,956. House prices have risen by 0.5% since July 2017. The monthly index figure for the UK was 118.5.

In England, the August data shows an annual price increase of 5.3% which takes the average property value to £243,520. House prices have risen by 0.7% since July 2017.

Wales shows an annual price increase of 3.4% which takes the average property value to £150,258. House prices have fallen by 0.1% since July 2017.

London shows an annual price increase of 2.6% which takes the average property value to £484,362. House prices have fallen by 1.0% since July 2017.

The regional data for England and Wales indicates that:

• the North West experienced the greatest increase in average property price over the last 12 months, with a movement of 6.5%;
• the North West also experienced the greatest monthly price growth with an increase of 2.3%;
• London saw the lowest annual price growth with an increase of 2.6%; and
• London also saw the most significant monthly price fall of 1.0%.

The UK Property Transaction statistics showed that the number of seasonally adjusted transactions on UK properties with a value of £40,000 or greater has increased by 6.6% between August 2016 and August 2017.  However, between July 2017 and August 2017, the number of seasonally adjusted property transactions decreased by 0.5%.

Looking closer at regional levels of the UK, the largest annual growth was in the North West at 6.5%. This was followed by the South West, East of England and the East Midlands; all of which had a growth rate of 6.4% in the year to August 2017. The lowest annual growth was in London, where prices increased by 2.6% over the year. This is the 9th consecutive month where the growth in London house prices has remained below the UK average. See the economic statement.

Sales during June 2017, the most up-to-date HM Land Registry figures available, show that:

• the number of completed house sales in England fell by 11% to 66,082 compared with 74,259 in June 2016;
• the number of completed house sales in Wales rose by 1.4% to 3,867 compared with 3,812 in June 2016;
• the number of completed house sales in London fell by 20% to 6,768 compared with 8,464 in June 2016;
• there were 618 repossession sales in England in June 2017;
• there were 64 repossession sales in Wales in June 2017; and
• the lowest number of repossession sales in England and Wales in June 2017 was in the East of England.

Access the full August UK HPI

Price change by region for England

Average price by property type for England

Price change for Wales

Average price by property type for Wales

Average price by property type for London

Sales volumes for England

Sales volumes for Wales

Sales volumes for London

Funding, buyer and building status for England

Funding, buyer and building status for Wales

Funding, buyer and building status for London

Repossession

Kindly shared by Land Registry