UK House Price Index July 2017
The July data shows an annual price increase of 5.1% which takes the average property value in the UK to £226,185. House prices have risen by 1.1% since June 2017. The monthly index figure for the UK was 118.6.
In England, the July data shows an annual price increase of 5.4% which takes the average property value to £243,220. House prices have risen by 1% since June 2017.
Wales shows an annual price increase of 3.1% which takes the average property value to £150,846. House prices have fallen by 0.3% since June 2017.
London shows an annual price increase of 2.8% which takes the average property value to £488,729. House prices have risen by 0.3% since June 2017.
The regional data for England and Wales indicates that:
- the East Midlands experienced the greatest increase in average property price over the last 12 months, with a movement of 7.5%;
- the North East experienced the greatest monthly price growth with an increase of 3.3%;
- London saw the lowest annual price growth with an increase of 2.8%; and
- the South East saw the most significant monthly price fall of 0.4%.
The UK Property Transaction statistics showed that in July 2017 the number of seasonally adjusted property transactions completed in the UK with a value of £40,000 or above increased by 8.3% compared with July 2016. Comparing July 2017 with June 2017, property transactions increased by 1.3%.
Looking closer at the regional level of the UK, the highest annual growth was in the East Midlands (7.5%) while the slowest annual growth was in London (2.8%) in the 12 months to July 2017. This is the 8th consecutive month when house price growth in London has remained below the UK average. See the economic statement.
Sales during May 2017, the most up-to-date HM Land Registry figures available, show that:
- the number of completed house sales in England fell by 3.3% to 58,209 compared with 60,179 in May 2016;
- the number of completed house sales in Wales rose by 9% to 3,406 compared with 3,125 in May 2016;
- the number of completed house sales in London fell by 6.8% to 6,169 compared with 6,617 in May 2016;
- there were 539 repossession sales in England in May 2017;
- there were 74 repossession sales in Wales in May 2017; and
- the lowest number of repossession sales in England and Wales in May 2017 was in the East of England
|England by region||Monthly change % since June 2017||Annual change % since July 2016||Average price July 2017|
|East of England||0.8||7.1||£289,948|
|Yorkshire and the Humber||1.1||4.5||£158,220|
|Average price by property type (England)||July 2017||July 2016||Difference %|
|Wales||Monthly change % since June 2017||Annual change % since July 2016||Average price July 2017|
|Average price by property type (Wales)||July 2017||July 2016||Difference %|
|Average price by property type (London)||July 2017||July 2016||Difference %|
|Month||Sales 2017 England||Sales 2016 England||Difference %|
|Month||Sales 2017 Wales||Sales 2016 Wales||Difference %|
|Month||Sales 2017 London||Sales 2016 London||Difference %|
|England||Monthly price change % since June 2017||Annual price change % since July 2016||Average price July 2017|
|Former owner occupier||0.8||5.3||£274,984|
|Existing resold property||1.2||4.6||£238,125|
|Wales||Monthly price change % since June 2017||Annual price change % since July 2016||Average price July 2017|
|Former owner occupier||-0.7||3.0||£174,074|
|Existing resold property||-0.2||2.4||£147,350|
|London||Monthly price change % since June 2017||Annual price change % since July 2016||Average price July 2017|
|Former owner occupier||0.1||2.6||£549,874|
|Existing resold property||0.6||1.9||£484,536|
|Repossession sales||May 2017|
|East of England||9|
|Yorkshire and the Humber||93|
Kindly shared by Land Registry